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The world economy is just starting to recover from the most disastrous episode in the history of financial …
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Global imbalances are defined. Several explanations for the development of large current account deficits and surpluses in key economies during the period after 1997 are discussed, including the saving-investment approach, the intertemporal approach, mercantilism and the Bretton Woods II...
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surprising development is attributable largely to rapid financial globalization, with cross-border flows worldwide rising as fast … if the current wave of globalization subsided or the rate at which U.S. investors buy foreign assets increased …
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