No money left for climate protection?

Menusch Khadjavi, Sonja Peterson (), Sebastian Petrick and Wilfried Rickels

Open Access Publications from Kiel Institute for the World Economy from Kiel Institute for the World Economy (IfW Kiel)

Abstract: The ongoing global financial crisis has been preceded by a steady rise in global current account imbalances. Recently, in the course of the global recession, global imbalances have declined, albeit without having disappeared completely. As the outlook for global growth gets brighter, it is important to be aware of the possibility of again arising global imbalances in the future, since many of the structural reasons for the foregoing build up of imbalances remain largely in place. This is particularly important against the background of a close relationship between the global imbalances and the financial crisis. Important steps that would help to avoid the reoccurrence of unsustainable global imbalances and contribute to stabilize the global economy in the medium run are a tighter regulation of financial markets, the strengthening of the role of the IMF in monitoring global capital markets, and the development of social security systems and financial markets in emerging economies.

Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/32966/1/621188751.pdf (application/pdf)

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:zbw:ifwkie:32966

Access Statistics for this paper

More papers in Open Access Publications from Kiel Institute for the World Economy from Kiel Institute for the World Economy (IfW Kiel) Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().