Global Imbalances: Non-conventional View

Vladimir Popov

No w0160, Working Papers from Center for Economic and Financial Research (CEFIR)

Abstract: Maintaining today’s global imbalances would help to overcome the major disproportion of our times – income gap between developed and developing countries. This gap was widening for 500 years and only now, in the recent 50 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 would go into debt, allowing developing countries to have trade surpluses that would help them develop faster. Previously, in 16-20th century, it was the West that was developing faster, accumulating surpluses in trade with “the rest” and using these surpluses to buy assets in developing countries, while “the rest” were going into debt. Now it is time for “the rest” to accumulate assets and for the West to go into debt.

Pages: 16 pages
Date: 2010-05
New Economics Papers: this item is included in nep-cba, nep-cis, nep-his, nep-hme and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.cefir.ru/papers/WP160.pdf (application/pdf)

Related works:
Journal Article: Global Imbalances: An Unconventional View (2013)
Working Paper: Global Imbalances: Non-conventional View (2010)
Working Paper: Global imbalances: an unconventional view (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cfr:cefirw:w0160

Access Statistics for this paper

More papers in Working Papers from Center for Economic and Financial Research (CEFIR) Contact information at EDIRC.
Bibliographic data for series maintained by Julia Babich ().