TY  - JOUR
TI  - IS THE CURRENT ACCOUNT SURPLUS IN GULF ECONOMIES SUSTAINABLE? AN EMPIRICAL ANALYSIS FOR UNIT ROOT TEST WITH TWO STRUCTURAL BREAKS
AB  - As the current deficit damages the economy more than the current account surplus,researchers generally concentrate on the current account deficit and its sustainability. Thecurrent account deficit of the USA, which is the the highest deficit in the world, matches withthe current account surpluses of Germany, China, Japan and oil-exporting countries. Theexhaustibility oil resources, the emergence of renewable energy sources so as to take place ofoil, the slowdown in the global growth led by China and India, and the decrease in oil revenueswith the increase in the oil supply in other countries, generate anxiety in the economies of theGulf Countries. In this point, the examination of the sustainability of the current accountsurplus also gains importance. In this respect, this study, testing the sustainability of thecurrent account balance of the Gulf Economies, having current account surplus and being inthe position of oil exporters, is a valuable contribution to the literature. This paper analysessustainability of the current account surplus of Gulf Economies between 1980 and 2016 byutilising the minimum LM unit root test for stationary. As for the outcomes, the unit root nullhypothesis could be rejected, it is a constant process in Bahrain, Iran, Kuwait and UnitedArab Emirates. The results obtained are also important for the policymakers.
AU  - ÇİĞDEM, GÜLGÜN
PY  - 2018
JO  - Akademik Hassasiyetler
VL  - 5
IS  - 10
SN  - 2148-5933
SP  - 171
EP  - 188
DB  - TRDizin
UR  - http://search/yayin/detay/309537
ER  -