AbstractIn recent years, oil-exporting countries have experienced windfall gains with the rise in the price of oil. A look at how oil exporters "recycle" their revenues reveals that roughly half of the petrodollar windfall has gone to purchase foreign goods, especially from Europe and China, while the remainder has been invested in foreign assets. Although it is difficult to determine where the funds are first invested, the evidence suggests that the bulk are ending up, directly or indirectly, in the United States.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.
Volume (Year): 12 (2006)
Issue (Month): Dec ()
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- Jean-Pierre Allegret & Cécile Couharde & Dramane Coulibaly & Valérie Mignon, 2013.
"Current Accounts and Oil Price Fluctuations in Oil-Exporting Countries: the Role of Financial Development,"
2013-19, CEPII research center.
- Jean-Pierre Allegret & Cécile Couharde & Dramane Coulibaly & Valérie Mignon, 2013. "Current accounts and oil price fluctuations in oil-exporting countries: the role of financial development," EconomiX Working Papers 2013-29, University of Paris West - Nanterre la Défense, EconomiX.
- Ansgar Belke & Daniel Gros, 2009.
"A Simple Model of an Oil Based Global Savings Glut – The “China Factor” and the OPEC Cartel,"
Ruhr Economic Papers
0128, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
- Ansgar Belke & Daniel Gros, 2009. "A Simple Model of an Oil Based Global Savings Glut: The "China Factor" and the OPEC Cartel," Discussion Papers of DIW Berlin 911, DIW Berlin, German Institute for Economic Research.
- Goknur Umutlu & Yilmaz Yildız, 2011. "The Effect of Global Liquidity on Macroeconomic Parameters," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 1(3), pages 167-181, September.
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