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We investigate the role of budget balances, financial development and openness, in the evolution of global imbalances. Financial development -- or the lack thereof -- has received considerable attention as a possible contributing factor to the development of persistent and expanding current...
Persistent link: https://www.econbiz.de/10012465286
fluctuations in savings on domestic investment and the current account? In the long run, we find that countries invest the marginal …Faced with income fluctuations, countries smooth their consumption by raising savings when income is high, and vice … versa. How much of these savings do countries invest at home and abroad? In other words, what are the effects of …
Persistent link: https://www.econbiz.de/10012469683
scarcity of saving in LATAM, thereby increasing investment and growth. Yet, the data and several case studies suggest that the … savings and investments were taxed in an arbitrary and unpredictable way, the credibility of a new regime could not be assumed … saving and investment rates tends to be a time consuming process. This also suggests that greater political instability and …
Persistent link: https://www.econbiz.de/10012467540
' associated with increasing the financing share of foreign savings. In fact, the evidence suggests the opposite: throughout the …
Persistent link: https://www.econbiz.de/10012468068
Chinese economy, including its unusually low labor share and unusually high saving and investment rates. Interestingly, the …
Persistent link: https://www.econbiz.de/10012459000
region. In terms of sheer magnitudes, China's national savings and current account surpluses dominate the region's saving-investment … growth. Investment growth has dominated GDP growth in China during this decade but is also important in the cases of India … and Vietnam. <br> <br>To examine the global implications of domestic growth patterns in Asia, I analyze saving-investment …
Persistent link: https://www.econbiz.de/10012463480
This essay discusses the reasons for and implications of the decline in real interest rates around the world over the past several decades. It suggests that the decline in interest rates is largely explicable from trends in saving, growth, and markups. In this environment, greater government...
Persistent link: https://www.econbiz.de/10013210052
will remain - highly prone to secular stagnation. But for extraordinary fiscal policies, real interest rates would have … in larger part a reflection of changes in saving and investment propensities rather than the safety and liquidity …
Persistent link: https://www.econbiz.de/10012480142
This paper revisits the association between investment and growth. The empirical findings highlight substantial … heterogeneity for the effect of investment on growth and suggest a possible negative association. Results based on a battery of … cross-sectional and time-series regressions show that the link between investment and growth has weakened over time and that …
Persistent link: https://www.econbiz.de/10012460870
Persistent link: https://www.econbiz.de/10000742921