Global Imbalances: 1996-2008
Öz
Global Imbalances refer to relatively large current account deficits or surpluses of the countries. The US current account deficits that have reached record high levels in the mid-2000s, have been offset by emerging countries, particularly by China and oil exporters. Thus, capital has flowed from the periphery to the core for the first time. The paper reviews the 1996-2008 era in which global imbalances have started to widen and reached unprecedented levels. Evolution of global imbalances is assessed, particularly within the scope of developments in US economy. Furthermore the paper surveys basic approaches attempt to explain global imbalance in the era, with structural reasons.
Anahtar Kelimeler
Global Imbalances,Saving-Investment Balance,Current Account Balance
Kaynakça
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