This study assesses the global imbalances across three regions (Chapter I), from Korean economy context (Chapter II), and from the perspective of history of economic thought (Chapter III). Chapter I demonstrates the asymmetry of the international financial arrangement (IFA) by examining contrast adjustments in the triangular pattern of international private capital flows among the center, creditor, and debtor periphery. Based on the asymmetry it concludes that decentralized efforts by individual country have limitations and international coordination is inevitable to minimize the negative externalities of the capital flows in the world economy. Chapter II investigates the implications of global imbalances on the Korean economy by assessing the impact of Korea's foreign reserve accumulation on the macro economy and analyzing the distributional impacts of an exchange rate. Chapter III studies the global imbalances and international capital flows in a broader political-economy context from the history of economic thought. It observes that from the historical perspective challenges for policy makers and economist' philosophical foundation on global imbalances and international capital flows could be a parallel from the past to the present, if not an exact repetition.
|Commitee:||Bernasek, Alexandra, Koontz, Stephen, Mushinski, David|
|School:||Colorado State University|
|School Location:||United States -- Colorado|
|Source:||DAI-A 75/10(E), Dissertation Abstracts International|
|Keywords:||Foreign reserve, Global imbalances, History of economic thought, International capital flows, Private capital|
Copyright in each Dissertation and Thesis is retained by the author. All Rights Reserved
The supplemental file or files you are about to download were provided to ProQuest by the author as part of a
dissertation or thesis. The supplemental files are provided "AS IS" without warranty. ProQuest is not responsible for the
content, format or impact on the supplemental file(s) on our system. in some cases, the file type may be unknown or
may be a .exe file. We recommend caution as you open such files.
Copyright of the original materials contained in the supplemental file is retained by the author and your access to the
supplemental files is subject to the ProQuest Terms and Conditions of use.
Depending on the size of the file(s) you are downloading, the system may take some time to download them. Please be