caa a22 4500 605534403 CHVBK 20210128100842.0 cr unu---uuuuu 210128e20151101xx s 000 0 eng 10.1007/s10663-014-9276-9 doi (NATIONALLICENCE)springer-10.1007/s10663-014-9276-9 Gehringer Agnieszka Georg-August-University of Göttingen, Platz der Göttinger Sieben 3, 37073, Göttingen, Germany aut New evidence on the determinants of current accounts in the EU [Elektronische Daten] [Agnieszka Gehringer] Growing external imbalances in Europe have been recognized as an important aggravating element in searching for solutions out of the current crisis. This paper takes a closer look at the determinants of current accounts in the European economies. The standard set of the determinants discussed in the past literature is extended by factors that seem to have played an important role in Europe over the last decades. Such factors relate particularly to the dynamics of consumption and connected to this credit concession to the private sector, as well as to the increasingly preponderant presence of low-productive and non-tradable construction activities in the economic structure. Additionally, the growth of per capita output played a significant role in explaining current account positions. This evidence speaks in favour of the catching up still going on within Europe. Springer Science+Business Media New York, 2014 Current account imbalances nationallicence European integration nationallicence Consumption dynamics nationallicence Private credit nationallicence Non-tradables nationallicence Construction nationallicence Empirica Springer US; http://www.springer-ny.com 42/4(2015-11-01), 769-793 0340-8744 42:4<769 2015 42 10663 https://doi.org/10.1007/s10663-014-9276-9 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10663-014-9276-9 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Gehringer Agnieszka Georg-August-University of Göttingen, Platz der Göttinger Sieben 3, 37073, Göttingen, Germany aut NATIONALLICENCE 773 0- Empirica Springer US; http://www.springer-ny.com 42/4(2015-11-01), 769-793 0340-8744 42:4<769 2015 42 10663