It is generally assumed that current deficits are intrinsically bad and in need of correction.
The Current Account and Foreign Debt
argues that this is not always the case. The author analyses a broad range of issues in support of this argument. These include:
* Approaches to current account balance
* Short run issues
* Longer run issues
* Policy
The book can be read as an integrated whole, or alternatively, each chapter can be consulted without reference to the others.
provides the counterbalance to a common misapprehension in economic theory. It will be a valuable guide for all those interested in international monetary theory.