Saving And Investment In A Global Economy

Author: Barry Bosworth
Editor: Brookings Inst Press
ISBN:
File Size: 66,20 MB
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The emergence of large trade imbalances among the industrial countries during the 1980s-particularly the massive deficit of the United States and the surpluses of Germany and Japan-has led to growing disenchantment with the international economic system. But while many critics point to unfair trade practices as the cause of these imbalances, others contend that this emphasis is misplaced.In this provocative book by one of the nation's leading economists, Barry Bosworth argues that disparities are not the result of external infraction, but rather a reflection of domestic failures. He shows that the United States, for example, with its large government budget deficit and low rate of private saving, must borrow abroad to finance its investments. Similarly, trade surpluses of countries such as Japan reflect a surplus of national saving over domestic investment, rather than restrictive trade practices.Bosworth explains that large trade imbalances became possible in the 1980s because of the development of an international capital market that greatly reduced the barriers to borrowing and lending across national borders. The result is an international system in which national economies are closely linked through international capital markets as well as trade in goods and services.Using data from the major industrial countries, Bosworth highlights the process by which changes in domestic rates of saving and investment lead to changes in interest rates, exchange rates, and trade balances. He first examines why national saving and investment have fallen throughout the industrialized world. He then focuses on how exchange rates respond to trade imbalances, and considers whether the wide fluctuations in exchange rates are a cause for concern or simply an integral part of the international adjustment to the divergent patterns of national saving and investment.

Egypt In The Global Economy

Author:
Editor: World Bank Publications
ISBN: 9780821340660
File Size: 62,99 MB
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This report summarizes Egypt's recent economic progress, highlights key opportunities and challenges currently facing its government and people, and outlines a strategy for securing its future prosperity on the brink of a new millennium. On the external front, it emphasizes reforming the trade regime, boosting exports, and entering into a partnership agreement with the European Union. On the domestic front, it outlines a range of structural reforms to promote higher savings and productive investment and policies to ensure that macroeconomic stability is maintained.

Saving And Investment In A Global Economy

Author: Barry Bosworth
Editor: Brookings Institution Press
ISBN: 9780815710431
File Size: 12,70 MB
Format: PDF, ePub
Read: 6292
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The emergence of large trade imbalances among the industrial countries during the 1980s - particularly the massive deficit of the United States and the surpluses of Germany and Japan - has led to growing disenchantment with the international economic system. But while many critics point to unfair trade practices as the cause of these imbalances, Barry Bosworth contends that this emphasis is misplaced. Instead, he argues, the trade disparities are not the result of external infractions, but rather a reflection of domestic failures.

Capital Flows Saving And Investment In The World Economy

Author: Showkat Ali
Editor: Taylor & Francis
ISBN: 9780815330738
File Size: 63,20 MB
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This study examines the major macroeconomic determinants and the structural relationships of current account variability, capital flows, saving and investment in open economies that are linked to the international financial markets. It explores the appropriateness of domestic policy responses (such as money stock growth, government spending, openness criteria, GDP growth) and the size of population or the impact of external shocks (such as exchange rate variability and the terms of trade uncertainty) for determining the domestic saving-investment comovement and capital flows worldwide. This analysis finds that even high positive correlations between national saving and investment rates could naturally arise within a perfect capital mobility framework where domestic policy variability and external shocks are likely to play a significant role for capital inflow.

Saving And Investment In A Global Economy

Author: Barry Bosworth
Editor: Brookings Inst Press
ISBN:
File Size: 31,74 MB
Format: PDF, ePub, Docs
Read: 5487
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The emergence of large trade imbalances among the industrial countries during the 1980s-particularly the massive deficit of the United States and the surpluses of Germany and Japan-has led to growing disenchantment with the international economic system. But while many critics point to unfair trade practices as the cause of these imbalances, others contend that this emphasis is misplaced.In this provocative book by one of the nation's leading economists, Barry Bosworth argues that disparities are not the result of external infraction, but rather a reflection of domestic failures. He shows that the United States, for example, with its large government budget deficit and low rate of private saving, must borrow abroad to finance its investments. Similarly, trade surpluses of countries such as Japan reflect a surplus of national saving over domestic investment, rather than restrictive trade practices.Bosworth explains that large trade imbalances became possible in the 1980s because of the development of an international capital market that greatly reduced the barriers to borrowing and lending across national borders. The result is an international system in which national economies are closely linked through international capital markets as well as trade in goods and services.Using data from the major industrial countries, Bosworth highlights the process by which changes in domestic rates of saving and investment lead to changes in interest rates, exchange rates, and trade balances. He first examines why national saving and investment have fallen throughout the industrialized world. He then focuses on how exchange rates respond to trade imbalances, and considers whether the wide fluctuations in exchange rates are a cause for concern or simply an integral part of the international adjustment to the divergent patterns of national saving and investment.

International Macroeconomics In The Wake Of The Global Financial Crisis

Author: Laurent Ferrara
Editor: Springer
ISBN: 3319790757
File Size: 41,41 MB
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This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

The Decline In Saving

Author: Barry P. Bosworth
Editor: Brookings Institution Press
ISBN: 0815721366
File Size: 32,40 MB
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Longtime Brookings economist and former presidential adviser Barry Bosworth examines why saving rates in the United States have fallen so precipitously over the past quarter century, why the initial consequences were surprisingly benign, and how reduced saving will affect the future well-being of Americans. The Decline in Saving provides an extensive and unparalleled account of the complexity of present saving patterns, an issue made even more serious by the 2008–09 global economic and financial crises. It objectively examines saving at both the individual household and the aggregate economy levels to understand whether the U.S. decline in saving is truly a threat to American prosperity. Highlights from The Decline in Saving: "The magnitude of the two-decade-long fall in household saving has been truly astonishing; it is even more surprising in view of the fact that the large cohort of baby boomers should have been in their peak saving years." "If Americans save so little, why are they so rich? This divergence emerges because the conventional measure of saving excludes all forms of capital gains...." "Saving behavior appears to be influenced in important ways by country-specific institutional factors along with a few common determinants, such as income growth, demographic changes, and variations in private wealth." "In the aggregate, the United States has had a negative net national saving rate since the onset of the financial crisis, and it now relies on foreign resource inflows to finance all its capital accumulation and a portion of its consumption." "The optimistic projections of just a few years ago about the future well-being of retirees now seem seriously dated."

The Evolving Role Of China In The Global Economy

Author: Yin-Wong Cheung
Editor: MIT Press
ISBN: 0262018233
File Size: 10,58 MB
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China is now the world's second largest economy and may soon overtake the United States as the world's largest. This book offers a systematic analysis of four factors in China's rapid economic growth: exchange rate policy, savings and investment, monetary policy and capital controls, and foreign direct investment.

Economics

Author: Michael Parkin
Editor:
ISBN:
File Size: 66,15 MB
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Saving Investment And Growth In Developing Countries

Author: Klaus Schmidt-Hebbel
Editor: World Bank Publications
ISBN:
File Size: 45,86 MB
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Kitchen Table Economics And Investing

Author: Damian Lillicrap
Editor:
ISBN: 9780702251566
File Size: 76,53 MB
Format: PDF, Mobi
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The global economy is likely to get worse before it gets better. We can no longer sit back and expect that our superannuation or pension programs will see us comfortably through retirement. Unless we take an interest in how much we are putting aside and how our money is being invested – and the earlier in our working lives the better – there is a good chance that we will end up with less than we expect. This timely book explains, in everyday language, the driving forces behind the economic issues we face, and how they are likely to play out. It also lays out the basics of saving and investing for retirement, then builds on these basics for those who wish to go further. Find out more about: * equities, bonds, cash, and property * gold and currency * borrowing and leverage in investing * dynamic asset allocation, for the more experienced investor Damian Lillicrap offers a rare insider's view of the finance and investment industry and shares over two decades of expertise gained from working in the world's major financial markets. He relates the economies of countries to the budgets that families deal with around their kitchen tables; the same home truths apply to both. If you don't know where to start to get your superannuation or pension in order, if you want to make sense of the finance news, if you are concerned about the legacy you are leaving your children, then you must read Kitchen Table Economics and Investing.

The World Economy

Author: Beth V. Yarbrough
Editor: South-Western Pub
ISBN:
File Size: 70,64 MB
Format: PDF, Mobi
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By presenting the fundamentals of international economics clearly with a strong presentation of theory, policy and applications, The World Economy: Trade and Finance is an excellent choice for a broad range of trade and finance courses with an international economic focus. This text is believed to be the most technically accurate text available on the market. Yarbrough and Yarbrough's mission with this text is to allow the student to discover how key economic tools will help them understand international issues that affect them daily. At the end of each chapter you will find 3 to 5 cases to allow the instructor to bring in more applied material into the theoretical discussion.

Conference Series

Author:
Editor:
ISBN:
File Size: 77,65 MB
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Seismic Shifts

Author: Jane Sneddon Little
Editor:
ISBN:
File Size: 77,51 MB
Format: PDF, ePub
Read: 1880
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Review Of Economic Conditions In Italy

Author:
Editor:
ISBN:
File Size: 49,75 MB
Format: PDF, Docs
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Financial Markets And Capital Income Taxation In A Global Economy

Author: Paolo Roberti
Editor: North-Holland
ISBN:
File Size: 47,71 MB
Format: PDF, Kindle
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The book describes the developments and the evidence, the problems and the interrelationships among problems, the outlook, and the intricate balance between the national and the international dimensions of the policy issues faced by tax administrations in OECD countries in the field of financial markets and capital income taxation in the wake of profound technological change and market globalization. The book provides a broad perspective of the problems, comparing thoughts on how the problems may be best dealt with, and using lessons from experience with theoretical and policy developments in a number of countries including the EU, North America and Australia. The book focuses on the following topics: • falling barriers, increased capital mobility, and the challenges of capital market globalization • the implications, for capital income taxation, of technological innovation and new financial products • tax distortions and international market pressures for national tax system conformity • questions of national tax sovereignty and the constraints imposed on governments by tax competition • the growing need for tax cooperation • emerging national and international capital taxation issues, including the premise that international cooperation may be key to solving, or at least alleviating, the existing and predicted tax problems.

Growth And Competition In The New Global Economy

Author: Ulrich Hiemenz Published by Oecd Publ
Editor: Development Centre Seminars
ISBN:
File Size: 12,90 MB
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This publication offers a stimulating, well-informed tour of the issues which policy makers will have to resolve if the integration of the NEEs into the world economy is to be facilitated

Proceedings Of The World Bank Annual Conference On Development Economics

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Editor:
ISBN:
File Size: 44,47 MB
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The Chinese Economic Renaissance

Author: Dilip K. Das
Editor: Palgrave MacMillan
ISBN:
File Size: 75,33 MB
Format: PDF, Kindle
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Following the launch in China of economic reforms and the 'open door policy', a new era of economic growth and global integration dawned. In 2008 China completed three decades of broad-based market-oriented macroeconomic reforms and restructuring. This book traces China's economic renaissance.

Accounting For The Global Economy

Author: Joke Luttik
Editor: Palgrave Macmillan
ISBN: 9780312213305
File Size: 46,70 MB
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The book describes the construction method for a global accounting framework, referred to as the world accounting matrix (WAM). The WAM allows for the consistent presentation of international trade and finance figures in relation to domestic saving and investment. The book shows how a WAM can be used for the analysis of trade and finance in a global context. In addition, it shows how the WAM can contribute to the solution of the large statistical problems in national and global macroeconomic data.