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El fenómeno de los ‘global imbalances’ y la crisis financiera actual

Author

Listed:
  • Jesús Ferreiro Aparicio

    (Universidad del País Vasco / Euskal Herriko Unibertsitatea)

  • Felipe Serrano Pérez

    (Universidad del País Vasco / Euskal Herriko Unibertsitatea)

Abstract

The phenomenon of the global imbalances is one of the causes of the current financial and economic crisis. The financial flows associated to these imbalances are in the origin of the generalized crisis in the international financial markets, which are incapable to absorb efficiently these huge capital inflows. The current experience shows that export-led strategies of growth are unsustainable if they are implemented by big economies whose external disequilibria can generate big systemic risks.

Suggested Citation

  • Jesús Ferreiro Aparicio & Felipe Serrano Pérez, 2009. "El fenómeno de los ‘global imbalances’ y la crisis financiera actual," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 72(03), pages 180-197.
    • Handle: RePEc:ekz:ekonoz:2009317
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    More about this item

    Keywords

    global imbalances; imbalance of the balance of payments; international capital flows; financial crisis;
    All these keywords.

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F49 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Other
    • G01 - Financial Economics - - General - - - Financial Crises

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