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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP13066 |
DP13066 Twenty Five Years of Global Imbalances | |
Maurice Obstfeld | |
发表日期 | 2018-07-22 |
出版年 | 2018 |
语种 | 英语 |
摘要 | As international capital markets expanded in breadth and depth after the middle 1990s, global current account imbalances also expanded markedly. Some have linked the origin of the subsequent Global Financial Crisis (GFC) to these global imbalances. This essay proposes answers to four questions about the recent history of global imbalances. Why did global imbalances expand after the mid-1990s? What circumstances and concomitant factors provide clues about the origins of the GFC? If one accepts that a mono-causal story about the GFC based on global imbalances is inaccurate, how should one view the potential threats from excessive global imbalances today? And finally, what policy implications follow? |
主题 | International Macroeconomics and Finance |
关键词 | Global imbalances Global financial crisis (gfc) Current account Imf external sector report |
URL | https://cepr.org/publications/dp13066 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541871 |
推荐引用方式 GB/T 7714 | Maurice Obstfeld. DP13066 Twenty Five Years of Global Imbalances. 2018. |
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