Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

Results found: 5

first rewind previous Page / 1 next fast forward last

Search results

Search:
in the keywords:  global imbalances
help Sort By:

help Limit search:
first rewind previous Page / 1 next fast forward last
1
Publication available in full text mode
Content available

Global imbalances from the flow and stock perspective

100%
Knap R.
Journal of Management and Financial Sciences
|
2019
|
issue 38
19-31
EN
The objective of the paper is to identify global payment imbalances from the flow and stock perspective in the years of 2000-2017 as well as to define the causes of differences in the development of global imbalances in both of the analysed aspects. In order to achieve the objective, current account balances and international investment positions that are systemically significant to economies were analysed with the use of descriptive statistics techniques and specific analytical indicators. From the conducted studies it arises that after the outbreak of the global financial crisis, the global flow imbalance declined, whereas the global stock imbalance rose significantly. The demonstrated divergence was caused by insufficient changes in current account balances (flow imbalances) in order to cause a decrease in net international investment positions (stock imbalances) systematically significant to economies and by a weakened impact of the transactions registered in the balance of payment (flows) on the change of an international investment position (stock).
2

Global Imbalances

72%
Sinproh C., Sipko J.
Creative and Knowledge Society
|
2014
|
vol. 4
|
issue 1
EN
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.
3
Publication available in full text mode
Content available

Międzynarodowa koordynacja polityk gospodarczych w warunkach kryzysu finansowego i nierównowag globalnych

72%
Bogołębska J.
Acta Universitatis Lodziensis. Folia Oeconomica
|
2015
|
vol. 6
|
issue 317
EN
Increased interest in coordination of macroeconomic policies, which is due to both the instability of the global economy as the consequence of financial crisis and the phenomenon of global imbalances, has been observed during last years. The main arguments for coordinated actions are: negative spillover effects of monetary policy implemented unilateral in globalized and integrated global economy, especially in times of economic downturns and difficulties in adoption of adjustment policies unilaterally. However, both the uncertainty about the effects and difficulties with implementation are the main brakes for coordinated actions. Both theoretical and empirical studies on international coordination of macroeconomic policies stress that the significance of it falls in times of stability and economic booms.
PL
Wzrost  zainteresowania  koordynacją  polityk  gospodarczych,  obserwowany w ostatnich latach, jest konsekwencją niestabilności gospodarki światowej wynikającej z globalnego kryzysu finansowego oraz napięć związanych z nierównowagami globalnymi. Ze względu na negatywne efekty zewnętrzne (spillover), jakie polityka monetarna realizowana na poziomie krajowym generuje w warunkach zglobalizowanej i zintegrowanej gospodarki światowej, szczególnie w okresach dekoniunktury gospodarczej oraz trudności w jednostronnym wdrażaniu polityk dostosowawczych wobec problemu nierównowag globalnych, coraz częściej postulowana jest potrzeba skoordynowanych działań w zakresie polityki gospodarczej, mimo niepewności związanej z ich skutkami oraz trudności z ich uruchomieniem. Znaczenie takich działań w okresie dobrej koniunktury gospodarczej i stabilności finansowej spada, co podkreślają zarówno badania teoretyczne, jak i empiryczne.
4

Global Imbalances - Their Sustainability and the Role of the Dollar

72%
Balicki A.
Folia Oeconomica Stetinensia
|
2012
|
vol. 10
|
issue 1
99-109
EN
This paper aims at delivering some analysis on the complex issue of global imbalances in the pattern of exports and imports of goods and services and simultaneous flow of capital in the world economy during the last decade. It discusses why these flows were principally streaming from developing to developed countries and what are their main driving forces. It also embarks on the problem of sustainability of global imbalances and the dollar playing an important role in reshaping them.
5

The Influence of Global Imbalances on the Build-up of the Current Financial Crisis

58%
Twardosz A.
Argumenta Oeconomica Cracoviensia
|
2013
|
issue 9
43-66
EN
The issue of global imbalances already emerged in the pre-crisis era, albeit in a different context. Research was mostly concentrated on analysing how distortions in the external positions of the main countries would affect future turbulence on foreign exchange markets and in the real sector before reaching new equilibrium points. This article addresses the problem in a different manner by describing the causal link between monetary and fiscal expansion and the resulting increase in trade deficit. The process of reinvestment of foreign exchange reserves by surplus countries affects credit, stock and real estate markets, thus paving the way for future turmoil.
PL
Nierównowagi globalne były przedmiotem licznych badań już w okresie poprzedzającym ostatni kryzys finansowy i gospodarczy, jednakże dotyczyły innych aspektów. Badania te koncentrowały się głównie na analizie wpływu nierównowag bilansu płatniczego na rynki walutowe oraz na sektor realny. W niniejszym artykule podjęto problem nierównowag globalnych w odmienny sposób – przez opisanie ciągu zdarzeń przyczynowo-skutkowych, z którego wynika, że to właśnie nadmierna ekspansja monetarna i fiskalna skutkowały wzrostem deficytu bilansu płatniczego Stanów Zjednoczonych. Proces inwestowania rosnących nadwyżek finansowych przez główne kraje eksportujące miał wpływ na rynki kredytowe oraz aktywów (giełda i nieruchomości), co doprowadziło do przyszłych zawirowań gospodarczych.
first rewind previous Page / 1 next fast forward last
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.