- Author
- Bogołębska Joanna (Uniwersytet Łódzki)
- Title
- Akumulacja rezerw walutowych jako determinanta nierównowagi na rachunku obrotów bieżących
Accumulation of Foreign Reserves as a Determinant of the Current Account - Source
- International Business and Global Economy, 2013, nr 32, s. 40-53, bibliogr. 21 poz.
Biznes Międzynarodowy w Gospodarce Globalnej - Keyword
- Globalna polityka finansowa, Rezerwy walutowe, Rachunek obrotów bieżących
Global financial policy, Foreign exchange reserves, Current account - Note
- summ.
- Abstract
- W celu pełniejszego zrozumienia złożonych związków między dynamiczną akumulacją rezerw walutowych a narastaniem nadwyżek na rachunkach obrotów bieżących (CA) formułuje się nowe określenie na politykę intencjonalnego wpływania na wielkość odpływów kapitału oficjalnego netto. Tzw. zewnętrzna polityka finansowa (external financial policy), której głównym instrumentem jest akumulacja rezerw walutowych, stanowi istotny czynnik warunkujący krajowe salda płatnicze, ale także tzw. nierównowagi globalne (global imbalances). Efektywność tej polityki zależy od zakresu liberalizacji przepływów kapitałowych. W opracowaniu przedstawiono podstawowe wątki dyskusji teoretycznej i przegląd badań empirycznych dotyczące tej zależności. Analiza koncentruje się na doświadczeniach nadwyżkowych krajów azjatyckich ze względu na ich największy udział w globalnym przyroście rezerw i istotną rolę w nierównowagach globalnych.(abstrakt oryginalny)
In order to understand the complicated interlinkages between dynamic accumulation of foreign reserves and growing surpluses on the current accounts, a new sort of policy is being formulated, namely external financial policy. This is a policy of intentional influencing official capital outflows, mainly in the form of accumulation of reserves. Among many factors influencing the effectiveness of this policy is capital account liberalization, on which the article focuses. The article aims at presenting the main theoretical and empirical insights into this complex relation. It concentrates on the experiences of the Asian surplus countries due to their role in the global growth of reserves and global imbalances.(original abstract) - Full text
- Show
- Bibliography
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- Cited by
- ISSN
- 2300-6102
- Language
- pol
