Hidden Bibliographic Details
| Other authors / contributors: | Bayoumi, Tamim A., author.
Tulin, Volodymyr, author.
International Monetary Fund. Western Hemisphere Department.
|
|---|
| ISBN: | 1283517027
9781283517027
1451911777
9781451911770
|
|---|
| Notes: | Includes bibliographical references (pages 37-39).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
|
|---|
| Summary: | This paper examines the roles of U.S. financial innovation, financial globalization, and the savings glut hypothesis in explaining the rise in U.S. external debt, first in a portfolio balance model, and then empirically. Perhaps surprisingly, financial deepening and falling home bias in industrialized countries explain a large share of external financing. The savings glut hypothesis (including difficult-to-track petrodollar recycling) and U.S. financial innovation are also important, in part as a cause of declining home bias in industrialized countries. The latter underscores the importance of not looking at these factors in isolation, but rather as a constellation of forces that can be self-reinforcing.
|
|---|
| Other form: | Print version: Balakrishnan, Ravi. Globalization, gluts, innovation or irrationality. [Washington, D.C.] : International Monetary Fund, Western Hemisphere Dept., ©2007
|
|---|
| Standard no.: | 10.5089/9781451911770.001
|
|---|
