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2012 | 273 Globalne aspekty kryzysu strefy euro | 157--173
Tytuł artykułu

Kierunki przepływów kapitałowych w gospodarce światowej

Treść / Zawartość
Warianty tytułu
Directions of Capital Flows in the Global Economy
Języki publikacji
PL
Abstrakty
Celem artykułu jest analiza kierunków przepływów kapitału w gospodarce światowej z uwzględnieniem głównych kapitałodawców i kapitałobiorców, oraz próba odpowiedzi na pytanie, czy trwający w gospodarce światowej kryzys gospodarczy wywarł na nie istotny wpływ. (fragment tekstu)
EN
The aim of the paper is to analyze the directions of capital flows in the global economy including major lenders and borrowers, and the answer to the question whether the ongoing global economic crisis affected their structure. During the period 2003 2011 the so called Lucas paradox could be observed. This paradox is understood as the incompatibility between the directions of capital flows in the global economy and the assumptions of the neoclassical model. Group of lenders is dominated by the developing countries, while the group of borrowers - by the developed ones. In the period 2008 2011 the economic crisis has caused shifts in the groups of lenders and borrowers. The United States has remained the leading net importer of capital, but in 2011 Germany became the main net exporter of capital replacing China at this place. (original abstract)
Twórcy
  • Uniwersytet Łódzki
Bibliografia
  • Alfaro L., S. Kalemli-Ozcan, V. Volosovych "Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation" NBER Working Paper 11901, December 2005 (1)
  • Alfaro L., S. Kalemli-Ozcan, V. Volosovych "Capital Flows in a Globalized World: the Role of Policies and Institutions", NBER Working Paper 11696, October 2005 (2)
  • Block B., K. Forbes, "Capital Flows to Emerging Markets: The Myths and Realities" paper prepared for the Conference "Myths and Realities of Globalization" at the Federal Reserve Bank of Dallas, November 4, 2004, www.whitehouse.gov/cea/forbes-capitalflows- mythstealitics-20041104.pdf
  • Caselli F., J. Feyrer "The Marginal Product of Capital", paper presented at the 7th Jacques Polak Annual Research Conference hosted by the IMF, Wsahington D.C., November 9-10, 2006 www.imf.org/extcrnal/np/res/seminars/2006/arc/pdf/cas.pdf
  • Clemens M.A., "Do Rich Countries Invest Less in Poor Countries than the Poor Countries Themselves?", Center for Global Development, Working Paper No. 19, December 2002. http://www.cgdev.org/content/publications/detail/2771
  • "Global Financial Stability Report" April 2004, IMF, www.imf.org
  • "Global Financial Stability Report" April 2006, IMF, www.imf.org
  • "Global Financial Stability Report" April 2008, IMF, www.imf.org
  • "Global Financial Stability Report" April 2010, IMF, www.imf.org
  • "Global Financial Stability Report" April 2012, IMF, www.imf.org
  • Gourinchas P.-O., O. Jeanne "Capital Flows to Developing Countries: The Allocation Puzzle", NBER Working Paper 13602, November 2007
  • Janicka M., "Liberalizacja przepływów kapitałowych w gospodarce światowej. Przypadek Polski", Wydawnictwo Uniwersytetu Łódzkiego, Łódź 2010
  • Lane P.R., G.M. Milesi-Ferretti "The External Weak of Nations: Measures of Foreign Assets and Liabilities for Industrial and Developing Countries" Journal of International Economics, No. 55/2001
  • Lane P.R., "The Macroeconomics of International Finance Trade" Institute for International Studies, Economics Department, Trinity College Dublin, Discussion Paper No. 13, August 2003
  • Lucas, R.E., Jr. "Why Doesn't Capital Flow from Rich to Poor Countries?", "American Economic Review", Paper and Proceedings 80 (May 1990)
  • McKinley T., "The Monopoly of Global Capital Flows: Who Needs Structural Adjustment Now?", International Poverty Centre, United Nations Development Programme, Working Paper No. 12, March 2006, www.undp.org/povertycentre
  • McKinsey Global Institute "Mapping Global Capital Markets 2011", http://www.mckinsey.com/ insights/mgi/research/financial markets/mappingglobal capital markets 2011
  • Obstfeld M., K. Rogoff "Global Current Account Imbalances and Exchange Rate Adjustments", "Brookings Papers on Economic Activity", No. 1, 2005
  • Reinhart CM., K.S. Rogoff "Serial Default and the "Paradox" of Rich to Poor Capital Flows", NBER Working Paper 10296, February 2004
  • Schmitz B., von Hagen Juergen, "Current Account Imbalances and Financial Integration in the Euro Area", Centre for Economic Policy Research, Discussion Paper No. 7262, April 2009
  • "World Economic Outlook" April 2008, IMF, www.imf.org
  • "World Economic Outlook" April 2012, IMF, www.imf.org
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171217803

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