International adjustment and rebalancing of global demand: where do we stand?
Yannick Kalantzis, Soledad Zignago, Pascal Towbin
Abstract
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Yannick Kalantzis, Soledad Zignago, Pascal Towbin
Abstract
Open-access reader
During the financial crisis, the global economy experienced a collapse in cross-border capital flows and a rapid adjustment of global imbalances. One of the striking features of this adjustment is its asymmetric nature:domestic demand declined in countries with a current account deficit,but only rose slightly in surplus economies.
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During the financial crisis, the global economy experienced a collapse in cross-border capital flows and a rapid adjustment of global imbalances. One of the striking features of this adjustment is its asymmetric nature:domestic demand declined in countries with a current account deficit,but only rose slightly in surplus economies.
Key concepts: Current account, Global imbalances, Economics, China, Capital flows, Financial crisis, Capital account, International economics