persistent current account surpluses were due primarily to Japan's large and persistent IS imbalances (the excess of saving over …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 …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 …

saving glut in the non-financial corporate sector and the current account surplus from a capital account perspective … for the joint dynamics of excess corporate saving and the current account surplus. Household saving shocks, by contrast …, cannot explain the correlation. We conclude that, explained through these factors, the corporate saving glut is an important …

We investigate for the case of Germany the positive correlation between the corporate saving glut in the non … corporate saving and the current account surplus. Household saving shocks, in contrast, cannot explain the correlation. We … conclude that the corporate saving glut, explained through these factors, is the main driver of the current account surplus. …

saving. The central objective of this paper is to investigate the extent to which the saving and investment rate of Asian … countries can be explained by the underlying fundamental determinants of saving and investment such as gross domestic product … promoting consumption rather than investment …

saving-investment balance. The results show that budget deficit, economic growth, FDI and financial intermediation are the …

towards profits and increased corporate saving. As a result, both economies' current account surpluses widened before the … global financial crisis, and that of Germany has proven more persistent as domestic investment has remained subdued …

account balance, budget deficit and investment for the period 1990–2011. The analysis is conducted within the framework of … international capital markets. Yet, investment is found to have a significant impact on the current account balance …

We investigate for Germany the positive correlation between the corporate savings glut in the non-financial corporate … corporate savings and the current account surplus. Private savings shocks, in contrast, cannot explain the correlation. We … conclude that a corporate savings glut is a main driver of the current account surplus. …