IDEAS home Printed from https://ideas.repec.org/a/psl/pslqrr/201012.html
   My bibliography  Save this article

Global imbalances: a gathering storm

Author

Listed:
  • Ugo Sacchetti

Abstract

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.

Suggested Citation

  • Ugo Sacchetti, 2010. "Global imbalances: a gathering storm," PSL Quarterly Review, Economia civile, vol. 63(252), pages 7-38.
    • Handle: RePEc:psl:pslqrr:2010:12
    as

    Download full text from publisher

    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9435/9330
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bank for International Settlements, 1986. "Recent innovations in international banking (Cross Report)," CGFS Papers, Bank for International Settlements, number 01.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Casselmann, Farina, 2013. "Financial services regulation in the wake of the crisis: The Capital Requirements Directive IV and the Capital Requirements Regulation," IPE Working Papers 18/2013, Berlin School of Economics and Law, Institute for International Political Economy (IPE).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Goodhart, Charles, 1989. "The Conduct of Monetary Policy," Economic Journal, Royal Economic Society, vol. 99(396), pages 293-346, June.
    2. William R. White, 1996. "International agreements in the area of banking and finance: accomplishments and outstanding issues," BIS Working Papers 38, Bank for International Settlements.
    3. C.P. Kindleberger, 1995. "Asset inflation and monetary policy," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 48(192), pages 17-37.
    4. Grung Moe, Thorvald, 2015. "Shadow banking: policy challenges for central banks," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(2), pages 31-42.
    5. Idil Uz Akdogan, 2020. "The effects of macroprudential policies on managing capital flows," Empirical Economics, Springer, vol. 58(2), pages 583-603, February.
    6. Piet Clement & Ivo Maes, 2013. "The BIS and the Latin American debt crisis of the 1980s," Working Paper Research 247, National Bank of Belgium.
    7. C.P. Kindleberger, 1995. "Asset inflation and monetary policy," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 48(192), pages 17-37.
    8. Fernando J. Cardim De Carvalho, 1997. "Financial Innovation and the Post Keynesian Approach to the “Process of Capital Formation”," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 19(3), pages 461-487, March.
    9. Lee,Jeong Yeon, 2000. "The role of foreign investors in debt market development - conceptual frameworks and policy issues," Policy Research Working Paper Series 2428, The World Bank.
    10. Ivo Maes, 2009. "On the origins of the BIS macro-prudential approach to financial stability: Alexandre Lamfalussy and financial fragility," Working Paper Research 176, National Bank of Belgium.
    11. Gabriele Galati & Richhild Moessner, 2013. "Macroprudential Policy – A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 27(5), pages 846-878, December.
    12. John Kambhu, 1998. "Dealers' hedging of interest rate options in the U.S. dollar fixed-income market," Economic Policy Review, Federal Reserve Bank of New York, vol. 4(Jun), pages 35-58.
    13. Mr. Robert M Heath, 2015. "What has Capital Liberalization Meant for Economic and Financial Statistics," IMF Working Papers 2015/088, International Monetary Fund.
    14. Ivo Maes, 2010. "Alexandre Lamfalussy and the origins of the BIS macro-prudential approach to financial stability," PSL Quarterly Review, Economia civile, vol. 63(254), pages 265-292.
    15. Stephen F. Quinn & John T. Harvey, 1998. "Speculation and the Dollar in the 1980s," Journal of Economic Issues, Taylor & Francis Journals, vol. 32(2), pages 315-323, June.
    16. David T LLEWELLYN & Mark J HOLMES, 1991. "In Defence Of Mutuality: A Redress To An Emerging Conventional Wisdom," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 62(3), pages 319-354, July.
    17. Andrew Cornford, 1996. "Some Recent Innovations in International Finance: Different Faces of Risk Management and Control," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(2), pages 493-508, June.
    18. Studart, Rogerio, 2000. "Financial opening and deregulation in Brazil in the 1990s Moving towards a new pattern of development financing?," The Quarterly Review of Economics and Finance, Elsevier, vol. 40(1), pages 25-44.
    19. Velauthapillai, Jeyakrishna, 2015. "Makroprudenzielle Regulierung – eine kurze Einführung und ein Überblick," EconStor Preprints 116781, ZBW - Leibniz Information Centre for Economics.
    20. E Philip Davis, 1996. "The Role of Institutional Investors in the Evolution of Financial Structure and Behaviour," RBA Annual Conference Volume (Discontinued), in: Malcom Edey (ed.),The Future of the Financial System, Reserve Bank of Australia.

    More about this item

    Keywords

    Financial Crisis; Instability; Rules;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F30 - International Economics - - International Finance - - - General
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • G01 - Financial Economics - - General - - - Financial Crises

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:psl:pslqrr:2010:12. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Carlo D'Ippoliti (email available below). General contact details of provider: http://www.economiacivile.it .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.