Cookies

We use cookies to ensure that we give you the best experience on our website. By continuing to browse this repository, you give consent for essential cookies to be used. You can read more about our Privacy and Cookie Policy.


Durham Research Online
You are in:

Global imbalances in the XIX, XX and the XXI centuries.

Eugeni, S. (2016) 'Global imbalances in the XIX, XX and the XXI centuries.', Economics letters., 145 . pp. 69-72.

Abstract

We establish a new stylized fact: while the current account and the trade balances are positively correlated during the second globalization (1990s–2010s), they were negatively correlated during the first globalization (1870s–1910s). We show that the reason behind is that the world interest rate is currently low relatively to the world growth rate due to a “global saving glut”, while this was not the case during the first globalization.

Item Type:Article
Full text:(AM) Accepted Manuscript
Available under License - Creative Commons Attribution Non-commercial No Derivatives.
Download PDF
(462Kb)
Status:Peer-reviewed
Publisher Web site:http://dx.doi.org/10.1016/j.econlet.2016.05.018
Publisher statement:© 2016 This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
Date accepted:18 May 2016
Date deposited:07 June 2016
Date of first online publication:01 June 2016
Date first made open access:01 December 2017

Save or Share this output

Export:
Export
Look up in GoogleScholar