Global imbalances: a gathering storm
DOI:
https://doi.org/10.13133/2037-3643/9435Keywords:
Financial Crisis, Instability, RulesAbstract
This article provides a detailed analysis of the many factors that, over a period of several years, have contributed to the international financial crisis and highlights the global imbalances, both financial and economic, that continue to pose significant threats to the stability of the world economy. The examination goes beyond looking strictly at the case of the USA to include the positions of other relevant countries, and underscores the shifting relations between the USA and the rest of the world. The pertinent geopolitical aspects are covered, followed by a discussion on possible institutional changes in international financial agencies, prospective financial problems of the USA and their implications, monetary developments, external balances, and international economic problems.
JEL Codes: E50, E60, F30, F42, G01
References
AKTHAR M.A. (1987), “Adjustment of U.S. External Imbalances”, in Federal Reserve Bank of New York, Annual Report, pp. 7-48.
AUERBACH A.J. and GALE W.G. (2009), The Economic Crisis and the Fiscal Crisis: 2009 and Beyond. An Update, New York: Brookings Institutions.
BACEVICH A.J. (2008), The Limits of Power. The End of American Exceptionalism, New York: Metropolitan Books.
BANK FOR INTERNATIONAL SETTLEMENTS (2007), Triennial Central Bank Survey, Basel.
CONGRESS OF THE UNITED STATES (1987), Joint Economic Committee, Washington, DC.
ENGARDIO P. (2009), “Can the Future be Built in America?”, Business Week, September 21.
KENNEDY P. (1987), The Rise and Fall of Great Powers, New York: Random House.
PERISTIANI S. (2007), “Evaluating the Relative Strength of the U.S. Capital Markets”, in Federal Reserve Bank of New York, Current Issues, July.
SACCHETTI U. (1999), “Wither the US Economy”, BNL Quarterly Review, vol. 52 n. 208, pp. 69-94.
SACCHETTI U. (2005), “The US Economy. An Update”, BNL Quarterly Review, vol. 58 n. 232, pp. 3-20.
SACCHETTI U. (1979), “The SDR. Ten Years of Experience”, BNL Quarterly Review, vol. 32 n. 131, pp. 391-405..
UN DEPARTMENT OF ECONOMIC AND SOCIAL AFFAIRS (2008), Annual Report, New York.
WALKER D. (2007), Transforming Government to Meet the Demands of the 21st Century, Chicago: United States Government Accountability Office.
ZAKARIA F. (2008), The Post-American World, New York: W. W. Norton & Co.
Downloads
Published
How to Cite
Issue
Section
License
