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The Evidence and Impact of Financial Globalization by Gerard Caprio

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Chapter 5

Global Imbalances

M.D. Chinn

University of Wisconsin, Madison, WI, USA

NBER, Cambridge, MA, USA

Outline

The Contested Landscape of Global Imbalances

In the years from 1998 to 2008, economists focused their attention on the causes and consequences of the expanding current account deficits and surpluses. The pattern of current account balances was interesting from an economic standpoint, in that it did ...

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