Saving and investment in a global economy
著者
書誌事項
Saving and investment in a global economy
Brookings Institution, c1993
- : hbk
- : pbk
大学図書館所蔵 全52件
  青森
  岩手
  宮城
  秋田
  山形
  福島
  茨城
  栃木
  群馬
  埼玉
  千葉
  東京
  神奈川
  新潟
  富山
  石川
  福井
  山梨
  長野
  岐阜
  静岡
  愛知
  三重
  滋賀
  京都
  大阪
  兵庫
  奈良
  和歌山
  鳥取
  島根
  岡山
  広島
  山口
  徳島
  香川
  愛媛
  高知
  福岡
  佐賀
  長崎
  熊本
  大分
  宮崎
  鹿児島
  沖縄
  韓国
  中国
  タイ
  イギリス
  ドイツ
  スイス
  フランス
  ベルギー
  オランダ
  スウェーデン
  ノルウェー
  アメリカ
注記
Includes bibliographical references (p. 177-182) and index
内容説明・目次
- 巻冊次
-
: pbk ISBN 9780815710431
内容説明
The emergence of large trade imbalances among the industrial countries during the 1980s-particularly the massive deficit of the United States and the surpluses of Germany and Japan-has led to growing disenchantment with the international economic system. But while many critics point to unfair trade practices as the cause of these imbalances, others contend that this emphasis is misplaced. In this provocative book by one of the nation's leading economists, Barry Bosworth argues that disparities are not the result of external infraction, but rather a reflection of domestic failures. He shows that the United States, for example, with its large government budget deficit and low rate of private saving, must borrow abroad to finance its investments. Similarly, trade surpluses of countries such as Japan reflect a surplus of national saving over domestic investment, rather than restrictive trade practices. Bosworth explains that large trade imbalances became possible in the 1980s because of the development of an international capital market that greatly reduced the barriers to borrowing and lending across national borders. The result is an international system in which national economies are closely linked through international capital markets as well as trade in goods and services. Using data from the major industrial countries, Bosworth highlights the process by which changes in domestic rates of saving and investment lead to changes in interest rates, exchange rates, and trade balances. He first examines why national saving and investment have fallen throughout the industrialized world. He then focuses on how exchange rates respond to trade imbalances, and considers whether the wide fluctuations in exchange rates are a cause for concern or simply an integral part of the international adjustment to the divergent patterns of national saving and investment.
- 巻冊次
-
: hbk ISBN 9780815710448
内容説明
The emergence of large trade imbalances among the industrial countries during the 1980s - particularly the massive deficit of the United States and the surpluses of Germany and Japan - has led to growing disenchantment with the international economic system. But while many critics point to unfair trade practices as the cause of these imbalances, Barry Bosworth contends that this emphasis is misplaced. Instead, he argues, the trade disparities are not the result of external infractions, but rather a reflection of domestic failures. The United States, for example, with its large government budget deficit and low rate of private saving, must borrow abroad to finance its investment. Similarly, trade surpluses of countries such as Japan are indicative of a surplus of national saving over investment needs, rather than restrictive trade practices. Bosworth explains that the existence of large trade imbalances became possible in the 1980s because of the development of an international capital market that greatly reduced the barriers to borrowing and lending across national borders.
The result is an international system in which national economies are closely linked through international capital markets as well as trade in goods and services. Bosworth uses data from the major industrial countries to highlight the process by which changes in domestic rates of saving and investment lead to changes in interest rates, exchange rates, and trade balances. He first examines the reasons for the decline in rates of national saving and investment that have been evident throughout the industrialized world. One conclusion is that large and sustained trade imbalances are likely to be a common feature of the international economy in the future. He then focuses on the role of exchange rates in the process of adjusting to trade imbalances, and considers whether the wide fluctuations in exchange rates that have occurred are a cause of concern or simply an integral part of the international adjustment ot the divergent patterns of national saving and investment.
「Nielsen BookData」 より