In this paper, I find (1) that Japan showed massive and persistent current account surpluses from at least 1981 and … until at least 2011, (2) that Professor Ronald McKinnon was correct, at least in the case of Japan, and that these large and … persistent current account surpluses were due primarily to Japan's large and persistent IS imbalances (the excess of saving over …

Relations between national public and private savings, domestic investment, and the current account are analyzed with … of aggregate savings on investment is found and government deficits tend to increase current account imbalances … for the US, Japan, Germany and the UK are compared with estimation results from partial modeling approached adopted in the …

This paper calculates the levels of optimal national saving, investment, and the current account balance for five Asian … economies—Hong Kong SAR, Japan, Singapore, Malaysia, and the Philippines—for the period 1997–2050 using a simulation approach …

services, Foreign Direct Investment . net inflows, savings). Part four highlights the results of the research alongside other …, interacting in a complex manner (domestic credit, export of goods and services, Foreign Direct Investment . net inflows, saving … means of two catalytic factors: the dynamics of the domestic credit, respectively that of the savings, variables with a …