Asian and Global Initiatives for Rebalancing the Global Economy

John Malcolm Dowling and Pradumna Bickram Rana

Chapter 8 in Asia and the Global Economic Crisis, 2010, pp 126-140 from Palgrave Macmillan

Abstract: Abstract It has become fashionable to talk about rebalancing the global economy to put greater stress on saving in the deficit industrial countries and on consumption in the surplus Asian economies. This approach is particularly important if one believes that the cause of the global recession originated in a persistent imbalance in global saving and investment. And even if one believes that the source was the result of increased financial risk taking and a flawed regulatory environment that encouraged excessive consumption and increased financial leverage, it is important to consider the implications of a continuation of the imbalance in global saving and investment moving forward. Certainly a return to the status quo of high saving and export-led growth by Asian economies combined with large US current account deficits and low saving rates is not tenable.

Keywords: Exchange Rate; Global Economy; Saving Rate; Asian Economy; Precautionary Saving (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
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:pal:palchp:978-0-230-30702-5_8

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230307025

DOI: 10.1057/9780230307025_8

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().