Supplementary material for: "Trade Reforms and Current Account Imbalances" by Jiandong Ju (PBC school of Finance, Tsinghua University), Kang Shi (Chinese University of Hong Kong) and Shang-Jin Wei (Columbia Business School, CEPR, FISF, and NBER). This folder contains the data and the codes that generate the figures and tables in the paper. They are saved in two sub-folder. The first one contains the data and the code for Table 2, and the second one contains the codes that replicate Figures 2-7 and Tables 4-5. Note that Figure 1 is constructed from publicly available data noted below. Table 3 is explained in the paper. *************************************************** FOLDER 1 - Data and regression *************************************************** (1) reg_sample10.dta: this file contains the data needed to replicate Table 2. The dataset is merged from several databases: IMF International Financial Statistics (IFS) database, BIS effective exchange rate indices, WTO trade statistics, Penn World Table 9.0 as well as three databases on capital control. The date of last access is July 14, 2020. The detailed description, source and website link for each variable are as follows: country: country name. year: from 1989 to 2010. event year = 0; years before a trade reform = -1; years after a trade reform = 1. The data filter criteria is in Section 2.2 of the paper. code_wdi: WDI country code code_ifs: IFS country code. Region: the region each country is located in. IncomeGroup: the income group that a country belongs to according to the IMF. ca: current account balance as percentage in GDP, from the IMF IFS database (https://data.imf.org/?sk=4c514d48-b6ba-49ed-8ab9-52b0c1a0179b&sId=-1). delta_ca: the change in ca before and after trade reform capital intensity: capital stock/GDP. The source is the 2002 US Standard Make and Use Tables. The estimation procedures are in Section 2.2 of the paper. delta_intensity: the change in capital intensity before and after trade reform. rer: real exchange rate. The source is BIS effective exchange rate indices(https://www.bis.org/statistics/eer.htm?m=6%7C381%7C676). delta_rer: the change in real exchange rate before and after a trade reform. ka_fkrsu: overall Financial openness index. The source is Fernandez et al 2015 (http://www.columbia.edu/~mu2166/fkrsu/). delta_fkrsu: the change in ka_fkrsu before and after a trade reform. ka_lb: IMF Aggregate Openness Index (overall). The source is IMF (https://www.imf.org/external/datamapper/datasets/CL/1). delta_fkrsu: the change in ka_lb before and after a trade reform. ka_ci: Financial openness index from Chinn-Ito 2006 (http://web.pdx.edu/~ito/Chinn-Ito_website_old.htm) delta_ci: the change in variable ka_ci before and after a trade reform. rca_service: relative comparative advantage in service trade. The source is WTO trade statistics (https://www.wto.org/english/res_e/res_e.htm). The estimation procedure is following Barattieri 2014 (https://www.sciencedirect.com/science/article/pii/S0022199613001128). rca_good: relative comparative advantage in good trade. The source is WTO trade statistics (https://www.wto.org/english/res_e/res_e.htm). The estimation procedure is following Barattieri 2014 (https://www.sciencedirect.com/science/article/pii/S0022199613001128). ini_rcas: initial RCA in service trade. The last value of rca_service before a trade reform. ini_rcag: initial RCA in good trade. The last value of rca_good before a trade reform. (2) reg.do: this file contains the stata code to run the regressions. Other data *************************************************** The data for Figure 1 is publicly available and can be download from the links below. The description and source of the data in Table 3 is explained in the paper. The date of last access is July 14, 2020. (1) The data on the weighted average tariff rates is from World Integrated Trade Solution (WITS) database (https://wits.worldbank.org/wits/wits/witshelp/Content/Data_Retrieval/T/QQ/B6.Quick_Query_TRN2.htm). (2) The data on China's current account balance is from IMF international financial statistics (IFS) database (https://data.imf.org/?sk=4c514d48-b6ba-49ed-8ab9-52b0c1a0179b&sId=-1). *************************************************** FOLDER 2 - Model *************************************************** (1) CallDynare.m: this file contains the code to replicate the results represented in Figure 2-7 and Table 4 & 5. It calls other files in the same folder. (2) Findss.m: this file computes the steady states for the baseline model. It is called by CallDynare.m file. (3) Findss_credit.m: this file computes the steady states for the model with credit constraint. It is called by CallDynare.m file. (4) simul2.mod: this file computes the transition path for the baseline model based on dynare platform and replicates the results in Figure 2-4. It is called by CallDynare.m file. (5) simul_sen.mod: this file computes the transition path based on dynare platform to check the model sensitivity to the value of psi_b and psi_k. It replicates the results in Figure 5. It is called by CallDynare.m file. (6) simul_credit2.mod: this file computes the transition path for the model with credit constraint based on dynare platform and replicates the results in Figure 6-7. It is called by CallDynare.m file. (7) param.mat: this file contains the parameter values used by CallDynare.m file. (8) shocks.mat: this file contains the shock values used by CallDynare.m file. (9) var.mat: this file contains the variable values at the initial steady state, used by CallDynare.m file.