Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/109341
Authors: 
Adams, Charles
Park, Donghyun
Year of Publication: 
2009
Series/Report no.: 
ADB Economics Working Paper Series 157
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.
Subjects: 
Global imbalances
current account
global financial crisis
rebalancing
Asia
JEL: 
F32
F41
F43
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/igo
Document Type: 
Working Paper

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