El fenómeno de los ‘global imbalances’ y la crisis financiera actual

Jesus Ferreiro () and Felipe Serrano

EKONOMIAZ. Revista vasca de Economía, 2009, vol. 72, issue 03, 180-197

Abstract: The phenomenon of the global imbalances is one of the causes of the current financial and economic crisis. The financial flows associated to these imbalances are in the origin of the generalized crisis in the international financial markets, which are incapable to absorb efficiently these huge capital inflows. The current experience shows that export-led strategies of growth are unsustainable if they are implemented by big economies whose external disequilibria can generate big systemic risks.

Keywords: global imbalances; imbalance of the balance of payments; international capital flows; financial crisis (search for similar items in EconPapers)
JEL-codes: F01 F36 F49 G01 (search for similar items in EconPapers)
Date: 2009
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