Causes and Consequences of Global Imbalances: Perspective from Developing Asia
Adams, Charles; Park, Donghyun | April 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, we examine the root causes of the large and persistent current account surpluses that have emerged in the region since the Asian crisis. We also explore the consequences of global imbalances for the region, in terms of welfare and economic growth. Based on our analysis, we recommend a number of concrete policy directions to 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 Bank. http://hdl.handle.net/11540/1804. License: CC BY 3.0 IGO.ISSN
1655-5252
Keywords
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
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http://hdl.handle.net/11540/1804Metadata
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