01694cas a2200241 a 4500 AALejournalIMF001827 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451847437 1018-5941 BD-DhAAL BD-DhAAL Pitchford, J. Current Account Deficits, External Liabilities and Economic Policy / J. Pitchford. Washington, D.C. : International Monetary Fund, 1992. 1 online resource (52 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 assesses the policy significance of foreign liabilities and the current account deficits that give rise to them. Current account imbalances are shown to have some capacity to indicate difficulties elsewhere in the economy, but are imperfect indicators and subject to potential misinterpretation. The paper concludes that successful pursuit of internal balance could be an important factor in stabilizing current account balances, but, beyond that, there seems no good reason for using macroeconomic policy to target the current account as such. However, there may be grounds for microeconomic action to remedy specifically identified problems. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1992/054 Full text available on IMF http://elibrary.imf.org/view/journals/001/1992/054/001.1992.issue-054-en.xml IMF e-Library