Saving, Investment, Financial Integration, and the Balance of Payments [electronic resource] - Washington, D.C. : International Monetary Fund, 1989. - 1 online resource (40 p.) - IMF Working Papers; Working Paper ; No. 89/102 . - IMF Working Papers; Working Paper ; No. 89/102 .

This paper examines the extent of international financial integration, and its consequences for the current account. The evidence indicates that financial liberalization in the 1970s and 1980s has resulted in a substantial movement towards closer integration of world capital markets. By reducing constraints on international capital flows, this movement makes the current account more of a residual factor in agents' decisions.

145194831X : 10.00 USD

1018-5941

10.5089/9781451948318.001 doi


Capital Market
Capital Markets
Capital Mobility
Current Account Balance
Current Account


Germany
Japan
United Kingdom
United States

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