Current accounts and financial flows in the euro area

• Published in: Journal of international money and finance Vol. 48; pp. 291 - 313
• Main Authors: Hobza, Alexandr, Zeugner, Stefan
• Format: Journal Article
• Language: English
• Published: Kidlington Elsevier Ltd 01.11.2014; Elsevier Science Ltd
• Subjects: Capital movement; Current account; Current accounts; Debt management; Eastern Europe; Economic analysis; Economic crisis; Euro area; Eurozone; External imbalances; Financial crisis; Financial instruments; International financial flows; International monetary economics; Studies; Trade deficit; Trade flows; Western Europe; Europe; F41; F32; Current account; International financial flows; F34; F36; External imbalances; Euro area

We construct a new database of bilateral financial flows among euro area countries and their major world partners and explore the role of financial links in the accumulation and then adjustment of current account imbalances in the euro area. The data show that the geography of financial flows can di...