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Epilogue

In: Global Imbalances, Exchange Rates and Stabilization Policy

Author

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  • Anthony J. Makin

Abstract

A major theme of this book has been the macroeconomic causes and consequences of global imbalances, capital flows and exchange rate movements, phenomena that remain at the forefront of international economic policy discussion. With greater international integration of goods, services and assets markets, the average size of current account imbalances in emerging and advanced economies has increased markedly over recent decades, which has concerned domestic and international financial markets and policymakers. Specifically, policymakers worry that sizeable external deficits and debt levels overexpose economies to sudden shifts in investor sentiment that may precipitate currency and financial crises and recession.

Suggested Citation

  • Anthony J. Makin, 2009. "Epilogue," Palgrave Macmillan Books, in: Global Imbalances, Exchange Rates and Stabilization Policy, pages 181-192, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-25075-8_11
    DOI: 10.1057/9780230250758_11
    as

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