Abstract
The current account imbalances of many advanced and emerging economies have widened significantly as a proportion of GDP in the wake of the international capital market liberalization that began in the early 1980s. As a result, international borrower countries, especially the US, Australia and New Zealand, have experienced sharp rises in external indebtedness.
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© 2009 Anthony J. Makin
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Makin, A.J. (2009). External Imbalances and National Income. In: Global Imbalances, Exchange Rates and Stabilization Policy. Palgrave Macmillan, London. https://doi.org/10.1057/9780230250758_4
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DOI: https://doi.org/10.1057/9780230250758_4
Publisher Name: Palgrave Macmillan, London
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