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Global Imbalances as Constraints to the Economic Activity in the World Economy

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Economic Policies, Governance and the New Economics

Part of the book series: International Papers in Political Economy Series ((IPPE))

Abstract

Since the beginning of the 2000s, the phenomenon of the global imbalances has been the object of special attention by economists and the international institutions. As we will see later, before the crisis there was a clear division between those that interpreted these imbalances as a disequilibrium and those that argued that they were a new kind of world equilibrium (the so-called ‘Bretton Woods II’ hypothesis), where the countries with current account surpluses were financing the countries with current account deficits.

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Author information

Authors and Affiliations

  1. Department of Applied Economics V, University of the Basque Country UPV-EHU, Spain

    Jesús Ferreiro, Patricia Peinado & Felipe Serrano

Authors
  1. Jesús Ferreiro
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  2. Patricia Peinado
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  3. Felipe Serrano
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Editor information

Editors and Affiliations

  1. Department of Land Economy, University of Cambridge, UK

    Philip Arestis (Director) (Director)

  2. University of Leeds, UK

    Malcolm Sawyer (Professor of Economics) (Professor of Economics)

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© 2013 Jesús Ferreiro, Patricia Peinado and Felipe Serrano

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Ferreiro, J., Peinado, P., Serrano, F. (2013). Global Imbalances as Constraints to the Economic Activity in the World Economy. In: Arestis, P., Sawyer, M. (eds) Economic Policies, Governance and the New Economics. International Papers in Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137023513_4

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