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Global Imbalances

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Sinproh C., Sipko J.

Creative and Knowledge Society

2014

vol. 4

issue 1

Purpose of the article The aim of the paper is to analyze the global economic imbalances and factors that contributed to their deterioration in developed and emerging countries, primarily in the United States and China. The article assesses the main inevitable factors of the global economic imbalances that have driven the recent evolution of current account balances. In addition, the paper describes the theoretical framework of global imbalances and the relevant fundamental theories for better understanding in theoretical aspect of international economics and finance. Furthermore, provides overview of the fundamental causes and drivers of global imbalances, namely current account. Methodology/methods In relation to the subject and purpose of this paper have been used the logical methods of examination which mainly include analysis, correlation and regression analysis, abstraction, synthesis, induction and deduction, the methods of descriptive and mathematical statistics, comparative and empirical methods and the selected forecasting methods (causal prognosis methods). Scientific aim The global imbalances are considered as the most disputable and well known of the global current economic problem, which possibly explain the causes of the global financial crisis. The global financial imbalances were quite massive even before the outbreak of the global financial crisis in 2008. Therefore, the main scientific goal of this paper to analyse what is behind the current account imbalances in both countries, e.i. the USA and China. Findings The persistent current account imbalances reflected the imbalances in the world investment and savings ratios. Whereas the U.S. national savings rate kept falling, the Chinese savings rate rose. Current account imbalances will keep on growing due to a problem of insufficient global saving. Conclusions (limits, implications etc)The size of global imbalances has become narrow compared to the prior crisis’s level, but it did not vanish due to the implementation of global rebalancing process. Putting the current account imbalance to cooperation of all participating countries is strongly necessary. The policy response will need to involve many more countries, even G20 process, and coordinating this response will require considerable efforts of every party members.

Uwarunkowania przepływu polskich bezpośrednich inwestycji zagranicznych do krajów Unii Europejskiej. Model grawitacyjny z wykorzystaniem danych panelowych

80%

Lubacha-Sember J., Wojciecowski L., Uniwersytet Ekonomiczny w Krakowie

Ekonomia Międzynarodowa

2014

vol. 007

The purpose of this article is to test the hypothesis stating that the gravity model of the international trade explains FDI flows from Poland to 27 EU member states.It has been decided to verify how using augumeted gravity model of international trade is allowed to identify push and pull FDI factors as well as internationalization motives in FDI mode. The result verified the main hypothesis positively. Investment decisions concerning the selection of the target country are determined by the size of the market measured by GDP per capita what means market seeking motive is presence. It has been empirically proven that taxation differences and labor costs (efficiency seeking motives) have a significant influence upon decisions on investment FDI in particular host countries.

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1 Creative and Knowledge Society

1 Ekonomia Międzynarodowa

1 Lubacha-Sember J.

1 Sinproh C.

1 Sipko J.

1 Uniwersytet Ekonomiczny w Krakowie

1 Wojciecowski L.

2 2014

Search results

Global Imbalances

Uwarunkowania przepływu polskich bezpośrednich inwestycji zagranicznych do krajów Unii Europejskiej. Model grawitacyjny z wykorzystaniem danych panelowych