Andrieş, Alin Marius; Chiper, Alexandra-Maria; Ongena, … - 2022
international investment position (stock) imbalances still persist. In this paper, we explore the implications of countries’ net … the net international investment positions are responsible for this outcome, whereas debt flows do not contribute …External imbalances played a pivotal role in the run-up to the global financial crisis, being an important underlying …