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Autor
Siddiqui Kalim (University of Huddersfield, United Kingdom)
Tytuł
Can Global Imbalances Continue? The State of the United States Economy
Źródło
Argumenta Oeconomica Cracoviensia, 2020, no 2(23), s. 11-32, rys., bibliogr. 50 poz.
Słowa kluczowe
Neoliberalizm, Rachunek obrotów bieżących
Neoliberalism, Current account
Uwagi
Klasyfikacja JEL: E50, 60, F30, G15.
summ.
Kraj/Region
Stany Zjednoczone Ameryki
United States of America (USA)
Abstrakt
Objective: This study investigates the issue of global imbalances by exploring, in a historical context, the interconnections between the United States current account imbalances and the processes underlying allocative inefficiency, financialisation and austerity politics.

Research Design & Methods: A comprehensive review of published studies is the research methodology used in this article. Published secondary data from both governments and international institutions are presented and discussed.

Findings: The study find that the deep nature of the current imbalances and economic crisis in the United States could adversely affect the rest of the world. Although the IMF and other institutions of global governance have now questioned the effectiveness of neoliberal policies, the severe measures the IMF advocates in response to current account deficits could presage yet another era of antigrowth austerity measures in the United States.

Implications/Recommendations: There are features of the current account US imbalances situation that have the potential to exacerbate negative trends and to further fuel adverse economic and political outcomes. The study suggests that a coordinated, US-led international response to a future global recession could be even more deficient than the current response to climate change.

Contribution: The paper makes a contribution to the literature on the failures of global governance and critically examines the economic risks of the current situation that are being compounded by the political approach of the Trump Administration, which characterises US trade partners as adversaries in need of coercion through tariffs and strident rhetoric. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka SGH im. Profesora Andrzeja Grodka
Pełny tekst
Pokaż
Bibliografia
Pokaż
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Cytowane przez
Pokaż
ISSN
1642-168X
Język
eng
URI / DOI
http://dx.doi.org/doi.org/10.15678/AOC.2020.2301
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