The Current Account Sustainability of European Transition Economies

摘要: This article presents an analysis of the sustainability current accounts a group central and eastern European countries. Given link between national savings (public private) investment, account may yield instabilities in fundamental macroeconomic variables. Hence, this is paramount importance given 2008–11 debt crises faced by many economies, addition new countries to economic monetary union. By means unit root tests fractional integration it shown that, general, ratio gross domestic product stationary mean reverting process. However, some cases, shocks tend have long-lasting effects, implying that there no evidence potential default