Database of publications / Global Imbalances and Financial Stability

This paper discusses two opposing views on global imbalances: The "traditional view", which regards the imbalances as a threat to global economic and financial stability, and the "new paradigm" view, which considers that they are the natural consequence of economic and financial globalization. Published by the IMF.

http://www.imf.org/extern…bs/ft/wp/2007/wp07111.pdf