Causes and Consequences of Global Imbalances: Perspective from Developing Asia. Asian Development Review, Vol. 26(1), pp. 19-47
Adams, Charles; Park, Donghyun | March 2009
Abstract
Global current account imbalances are one of the key macroeconomic
imbalances that underlie the global financial crisis. The central objective of
this paper is to analyze the causes and consequences of global imbalances
from the perspective of developing Asia. More specifically, the paper
examines the root causes of the large and persistent current account surpluses
that have emerged in the region since the Asian crisis. The paper also explores
the consequences of global imbalances for the region, in terms of welfare and
economic growth. Based on the analysis, a number of concrete policy
directions are recommended that will help Asia rebalance its demand and
growth toward domestic sources.
Citation
Adams, Charles; Park, Donghyun. 2009. Causes and Consequences of Global Imbalances: Perspective from Developing Asia. Asian Development Review, Vol. 26(1), pp. 19-47. © Asian Development Bank. http://hdl.handle.net/11540/1685. License: CC BY 3.0 IGO.Citable URI
http://hdl.handle.net/11540/1685Metadata
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