Global imbalances

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Chapter 9 in Financial Crises, 1929 to the Present, Second Edition, 2017, pp 175-180 from Edward Elgar Publishing

Abstract: Chapter 9 discusses global imbalances. Global imbalances have generated the conditions for crisis, from the Great Depression through the Great Recession. Imbalances in currency stability and power, government debt, trade deficits, financial stocks and flows, have repeatedly laid the foundation for crisis. The success of the intentional, imposed stability and balance of the Bretton Woods period provides the exception that proves the rule: global imbalances allow crisis conditions to arise and ripen. Keywords: global imbalances, current account deficit, Bretton Woods, currency instability, financial instability

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2017
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