01842cas a2200265 a 4500 AALejournalIMF001572 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451842043 1018-5941 BD-DhAAL BD-DhAAL Zanforlin, Luisa. Are African Current Account Deficits Different? : Stylized Facts, Transitory Shocks, and Decomposition Analysis / Luisa Zanforlin, Cesar Calderon, Alberto Chong. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the behavior of current account deficits in Africa and estimates whether the deficits are excessive with respect to fundamentals. The findings are the deficits are (i) not very persistent; (ii) positively linked with domestic growth; (iii) strongly linked with public (and private) savings, suggesting that fiscal consolidation in IMF-supported programs may be relatively effective; (iv) linked with aid flows, so as to close the external gap, and (v) linked with currency depreciation and the terms of trade. The deficit is "excessive," as it is almost 3 percent of the gross national disposable income above the equilibrium level. Mode of access: Internet Calderon, Cesar. Chong, Alberto. IMF Working Papers; Working Paper ; No. 2001/004 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/004/001.2001.issue-004-en.xml IMF e-Library