Global Imbalances: An Unconventional View
Maintaining today’s global imbalances would help overcome the major disproportion of our times — income gap between developed and developing countries. This gap was widening for 500 years, since the XVI century, and only now, in recent 60 years, there are some signs that this gap is starting to decrease. The chances to close this gap sooner rather than later would be better, if the West goes into debt, allowing developing countries to have trade surpluses that would help them develop faster. Previously, in the XVI—XX centuries, it was the West that developed faster, accumulating surpluses in the trade with "the rest of the world" and using them to buy assets in developing countries, while "the rest of the world" was going into debt. Now it is time for "the rest" to accumulate international assets and for the West to go into debt.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Feldstein, Martin & Horioka, Charles, 1980.
"Domestic Saving and International Capital Flows,"
Royal Economic Society, vol. 90(358), pages 314-329, June.
- Dani Rodrik, 2006.
"The social cost of foreign exchange reserves,"
International Economic Journal,
Taylor & Francis Journals, vol. 20(3), pages 253-266.
- Dani Rodrik, 2006. "The Social Cost of Foreign Exchange Reserves," NBER Working Papers 11952, National Bureau of Economic Research, Inc.
- Dani Rodrik, 2006. "The Social Cost of Foreign Exchange Reserves," Working Papers id:357, eSocialSciences.
- Rodrik, Dani, 2006. "The Social Cost of Foreign Exchange Reserves," CEPR Discussion Papers 5483, C.E.P.R. Discussion Papers.
- Polterovich, Victor & Popov, Vladimir, 2003. "Accumulation of Foreign Exchange Reserves and Long Term Growth," MPRA Paper 20069, University Library of Munich, Germany.
When requesting a correction, please mention this item's handle: RePEc:nos:voprec:2013-01-4. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sergei Parinov)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.