A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2012; you can also visit the original URL.
The file type is application/pdf.
Global Imbalances and Foreign Asset Expansion by Developing Economy Central Banks
2012
Social Science Research Network
Preserved Fulltext
Over the past 10 years, central banks and governments throughout the developing world have accumulated foreign exchange reserves and other official assets at an unprecedented rate. This paper shows that this official asset accumulation has driven a substantial portion of the recent large global current account imbalances. These net official capital flows have become large relative to the size of the industrial economies, and they are a significant factor contributing to the weakness of the
doi:10.2139/ssrn.2028099
fatcat:2lq4x5agxvgwdne6dzszoposjq