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CAUSES OF Current Account DEFICITS
This could in theory come from any of the four parts of the current account. The UK loses a
lot of money on transfers as many families with links to developing countries in Africa and
Asia send transfers of money to relatives and also the…

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6. A sharp rise in commodity prices, especially oil and energy, can increase the import
bill strongly, as well as cause import cost push inflation. This happened during the boom
years of 20052008 and added to our current account deficit.

7.structural problems (p.121 in Bamford and Grant) A country like…

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