Jury still out on global saving glut theory
New research published by the Reserve Bank of Australia finds limited support for the argument that financial crises have contributed to the current-account surpluses in developing economies.
The argument, known as the "global saving glut" theory, is corroborated by panel data gathered by researchers at the US Federal Reserve and prepared by the current chairman of the Fed, Ben Bernanke, for some regions, but not for others.
To read the paper, click here
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