Global Economic Imbalances in the Modern World
Alexandra Viktorovna Bozhechkova,
Sofya Igorevna Kolesnik and
Pavel Vyacheslavovich Trunin
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Alexandra Viktorovna Bozhechkova: Gaidar Institute for Economic Policy, Moscow, Russia
Sofya Igorevna Kolesnik: Gaidar Institute for Economic Policy, Moscow, Russia
Pavel Vyacheslavovich Trunin: Gaidar Institute for Economic Policy, Moscow, Russia
Russian Foreign Economic Journal, 2025, issue 3, 23-42
Abstract:
The article focuses on a comprehensive analysis of global economic imbalances. It examines their main causes and factors, including the impact of globalization, the COVID-19 pandemic and international crises, as well as the role of international investment position and asset revaluation. The study suggests that slower global growth and lower volatility in energy markets may slightly reduce the imbalances. However, the dominance the US dollar contributes to their persistence. The shift towards a multipolar monetary system could weaken these imbalances in the long term, although the United States are likely to preserve its monetary hegemony.
Keywords: global imbalances; current account; reserve currencies; investment position; asset revaluation (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2025_03_23-42
DOI: 10.24412/2072-8042-2025-3-23-42
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