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Development
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Economic Theory
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Finance
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Financial integration
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PDX Scholar
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We investigate the role of budget balances, financial development and openness, in the evolution of global imbalances. Financial development – or the lack thereof – has received considerable attention ...
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We consider the origins of global current account imbalances. We first discuss how the expansion of the US current account deficit and the decrease in global real interest rates can be reconciled with ...
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3. [Article] A Forensic Analysis of Global Imbalances
We examine whether the behavior of current account balances changed in the years preceding the global crisis of 2008-09, and assess the prospects for global imbalances in the post-crisis period. Changes ...Citation