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This study examines the relationship between current-account imbalances and economic growth during the 2008-2009 financial and economic crisis for 179 countries (covered by IMF data) and within the EU-27 countries (covered by Eurostat data). The countries are divided into 4 groups by GDP per...
Persistent link: https://www.econbiz.de/10010406280
Economic Growth and External Stabilisation (defined in terms of Current Account Balance as a percentage of GDP) is a top priority for policy-makers, while laying out the macroeconomic framework for Indian economy. Government of India had targeted for an average GDP growth rate of 9 percent and a...
Persistent link: https://www.econbiz.de/10011446274
This paper examines the regional and global growth effects of current account imbalances in Japan, Germany, and the … vector autoregression (SVAR) framework to show that positive shocks to current account balances in the PRC, Germany, and …
Persistent link: https://www.econbiz.de/10012175573
In the present contribution, we concentrate on the process of financial liberalization in a specific context of European economic and monetary integration. We implement de facto and de jure measures of financial liberalization and find that formal aspects of financial openness generate a...
Persistent link: https://www.econbiz.de/10011374352
This paper develops composite indicators of financial integration within the euro area for both price-based and quantity-based indicators covering money, bond, equity and banking markets. Prior to aggregation, individual integration indicators are harmonised by applying the probability integral...
Persistent link: https://www.econbiz.de/10012104477
Germany is often criticized for its large current account surpluses. The surpluses are caused by differences in … economic growth between Germany and its major trading partners, the innovative strength of German enterprises, as well as … Economic and Monetary Union (EMU) induced large net capital exports of Germany into the peripheral economies which mirrored the …
Persistent link: https://www.econbiz.de/10010369264
Germany is often criticized for its large current account surpluses. The surpluses are caused by differences in … economic growth between Germany and its major trading partners, the innovative strength of German enterprises, as well as … Economic and Monetary Union (EMU) induced large net capital exports of Germany into the peripheral economies which mirrored the …
Persistent link: https://www.econbiz.de/10010985179
China's rise has been the economic success story of the past four decades but economic growth has been slowing and domestic imbalances have widened. This paper analyses the recent evolution of China's imbalances, the risks they pose to the economic outlook and the potential impact of a...
Persistent link: https://www.econbiz.de/10011792634
In this overview we try to explain, first, why funds continued to flow towards emerging economies while fundamentals in host countries had been deteriorating before the Asian crisis (rising external deficit, with a significant liquid component appreciating exchange rates; low capital formation,...
Persistent link: https://www.econbiz.de/10010279100
Persistent link: https://www.econbiz.de/10011333766