IMF Staff Country Reports

Kingdom of the Netherlands-Netherlands : Selected Issues

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

April 3, 2017

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This Selected Issues paper focuses on a steady increase in current account surpluses in ”Surplus 3” countries—Germany, the Netherlands, and Switzerland—since the mid-1990s. In Germany and the Netherlands, nonfinancial corporations seem to be behind the rising surpluses. In these countries, increasing corporate profits have not been converted into dividends, keeping a lid on consumption. In Switzerland, household savings seem to explain the bulk of the current account surplus: both mandatory and voluntary savings have been on an increasing trend since 2000. Trending net contributions to pension funds since 2000 and rising equity contribution for housing purchases are likely drivers.

Series:

Country Report No. 17/78

Subject:

Corporate sector Corporate taxation Current account surpluses Domestic demand Foreign investment Germany Global competitiveness Income taxes Netherlands Selected Issues Papers Switzerland Tax reforms Trade balances