Saving, Investment, Financial Integration, and the Balance of Payments [electronic resource]
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TextSeries: IMF Working Papers; Working Paper ; No. 89/102Publication details: Washington, D.C. : International Monetary Fund, 1989Description: 1 online resource (40 p.)ISBN: 145194831X :ISSN: 1018-5941Subject(s): Capital Market | Capital Markets | Capital Mobility | Current Account Balance | Current Account | Germany | Japan | United Kingdom | United StatesAdditional physical formats: Print Version:: Saving, Investment, Financial Integration, and the Balance of PaymentsOnline resources: IMF e-Library | IMF Book Store Abstract: 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.
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.
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