Greece's current account drivers and forecasts An empirical study
Greece Macro Monitor – Focus Notes
31 March 2014
The present study employs cointegration techniques and a vector correction model (VECM) to identify and analyze the main drivers of Greece’scurrent account in recent decades and, especially, in the years following the euro adoption. Our econometric results provide broad-based support to the key findings of a number of earlier empirical studies on the determinants of the current account.