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    International Payments Imbalances

    Felipe, Jesus; Harrigan, Frank; Mehta, Aashish | April 2006
    Abstract
    The recent “global payments imbalances” have raised questions about their sustainability and how they can be resolved. Views on these issues are diverse. For developing Asia, the current account surpluses, positive savings-investment gaps, and reserve accumulation pose significant structural challenges: (i) investment rates in several countries are low by historical averages as well as when compared to assessments of needs; (ii) in the PRC, the current account surplus appears to reflect a glut of savings rather than a drought of investment; (iii) reserve accumulation points to the need for deeper and more efficient domestic and regional capital markets; and (iv) governments across Asia need to buttress social protection and insurance mechanisms to cope with possible future economic shocks
    Citation
    Felipe, Jesus; Harrigan, Frank; Mehta, Aashish. 2006. International Payments Imbalances. © Asian Development Bank. http://hdl.handle.net/11540/1457. License: CC BY 3.0 IGO.
    ISSN
    1655-5260
    Keywords
    Asian Development Bank
    Development
    Regional Economic Integration
    Financial Sector Policies
    Financial Risk Management
    Bond Financing
    Economic integration
    Development Bank
    Capital Market
    Regional Plans
    Regional Development Bank
    Development finance
    Development Banks
    Local government bonds
    Bonds
    Catastrophe bonds
    Bond funds
    Bond market
    Multilateral development banks
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    Citable URI
    http://hdl.handle.net/11540/1457
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    Author
    Felipe, Jesus
    Harrigan, Frank
    Mehta, Aashish
    Theme
    Finance
    Regional
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise