Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/31532
Authors: 
Kregel, Jan
Year of Publication: 
2008
Series/Report no.: 
Working papers // The Levy Economics Institute 528
Abstract: 
While the traditional approach to the adjustment of international imbalances assumes industrialized countries at a similar level of development and with similar production structures, such imbalances have historically been the result of a process of catching up by late-industrializing developing countries. This may call for an alternative approach that assesses how these imbalances can be managed in order to support developing countries' efforts to achieve successful industrialization and integration into the global trade and financial system. In this light, the paper presents an alternative explanation of the existence and persistence of the currently high levels of imbalances and suggests reasons why they may persist in the medium term.
Subjects: 
Economic Development
International Investment
Current Account Adjustment
International Policy
JEL: 
F01
F21
F32
F42
O11
Document Type: 
Working Paper

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