Global Imbalances and the Financial Crisis: Link or No Link?

By C. Borio, Piti Disyatat. 2011

519 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/7201b3ff80e3bad73f32dceaf76cc4ee3a75b274

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Citations in the corpus

Financial Flows, Financial Crises, and Global Imbalances (2012, background): “Borio and Disyatat (2011) give an insightful summary of this second perspective.”
Dilemma not Trilemma: The Global Financial Cycle and Monetary Policy Independence (2015, unknown): “As pointed out in Brunnermeier et al. (2012) and Borio and Disyatat (2011), there is a positive feedback loop between greater credit supply, asset price inflation and a compression of spreads.”
Capital Flows, Cross-Border Banking and Global Liquidity (2012, unknown): “Our ndings reinforce the argument in Borio and Disyatat (2011), Obstfeld (2012a, 2012b) and Gourinchas and Obstfeld (2012) on the importance of gross capital ows between countries in determining nancial conditions.”
WHAT DRIVES CAPITAL FLOWS TO EMERGING MARKETS? A SURVEY OF THE EMPIRICAL LITERATURE (2018, unknown): “Gross means that non-resident capital inflows are analyzed separately from resident capital outflows (Borio and Disyatat 2011; Obstfeld 2012).”
Rising inequality as a cause of the present crisis (2015, background): “Borio and Disyatat (2011) argue that capital flows are due not to savings decisions but to portfolio decisions and that they are prone to large swings because of what they call an excess elasticity of the financial system.”
Financial Globalisation and the Crisis (2012, unknown): “At a global level, Blanchard and Milesi-Ferretti (2010) highlight that the factors driving current account balances varied across different phases.”
The U.S. left behind? Financial globalization and the rise of IPOs outside the U.S. (2013, background): “See Borio and Disyatat (2011) for a discussion of the limitations of using measures of external net claims. from their updated and extended data set that includes annual measures of the sum of a country's external assets and liabilities.9 Each year, we sum across each country's external assets and…”
Financialization in Developing and Emerging Countries (2013, background): “In a very influential paper, Borio and Disyatat (2011) criticize the conventional, excess-savings view of global imbalances.”
Domestic Credit Growth and International Capital Flows (2013, unknown): “Still, it is important to emphasise that financial integration can influence credit dynamics even if the current account is in balance (Borio and Disyatat 2011, Gourinchas 2012, Obstfeld 2012a, 2012b).”