Here, g is the rate of growth of GDP. Trade openness (open) is the ratio of value of exports plus value of imports to real GDP, and inflation (cpi) is measured by the natural log of consumer price index.
While, among emerging countries, commodity price, real GDP growth, trade openness and de jure capital openness are positively correlated with net foreign asset, exchange rate stability index is negatively related to current account balance.
Where ln is for natural logarithm, GDPPC is the Growth Rate of GDP per Capital, GEXP is Government Expenditure, CPI is Consumer Price Index, TO is Trade Openness, GCF is Gross Capital Formation, DCB is Domestic Credit to Private Sector and M2/M1 is the ration Broad-to-Narrow Money.
They did not worry about damaging their brand and they paid the price for their honesty and openness -- yet in the process, they sent a valuable message: drugs are a personal choice, and some of the most dangerous drugs are legal.
WE'VE been talking a lot lately about openness in travel pricing.
Ed Prado, who runs Tradebonds, claims to be able to offer his retail customers prices up to 1.5 percentage points lower than they could get from traditional brokers.A senior bond trader at one big Wall Street firm concedes that a lack of openness in the price-setting process is currently the main point of "friction" (ie, dealers' profits) in the market, and that the Internet will reduce this.
Gassée consistently pushed the Apple product line in two directions, towards more "openness" in terms of expandability and interoperability, and towards higher price.
When I meet business leaders from the very carbon-intensive industries, their openness to a carbon price is striking.
In particular, current account balance has positive link with commodity price real GDP growth and trade openness in emerging economies, whereas negative link in developed economies.
Thus, the result confirms that there is no surprise change that obtained in the main specifications in Tables 4 and 5. To sum up, all of global current account determinants (real GDP growth rate, net foreign assets, commodity price index, real effective exchange rate, trade openness, exchange rate stability and de facto capital openness) show the significant effect on current account balance.
