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2013 | OriginalPaper | Chapter

12. US Savings Gap Versus Global Liquidity Reflux

Author : Satyendra Nayak

Published in: The Global Financial Crisis

Publisher: Springer India

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Abstract

The issue of global savings glut has created quite a stir in the academic, policy making, banking, investment, and market analyst circles. It manifests one of the fundamental changes in the global economy that has occurred over the last two decades under the new economic policy phase of globalization. While the broad hypothesis is indisputably acceptable, there is room for difference on the interpretation and causality of the phenomenon.

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Footnotes
1
Source: BIS Annual Report, 2009.
 
2
Bernanke, Ben, Chairman, The Federal Reserve Board, The speech on ‘Globalization and Monetary Policy’ given at the Fourth Economic Summit, Stanford Institute for Economic Policy Research, Stanford, California, March 2, 2007.
 
3
Source of data: Bureau of Economic Analysis, U S Department of Commerce.
 
4
Kuijs Louis, How will China’s Savings-Investment Balance Evolve?, World Bank China Research Paper, No.4, May,2006.
 
5
Source: OECD Center, Deutsch Bank 2008.
 
6
Bureau of Economic Analysis, US Department of Commerce.
 
7
This hypothesis is discussed in my earlier book, ‘Globalization and Indian Economy: Roadmap to Convertible Rupee’, Routledge, Taylor and Francis Group, New York, London, 2009. The figures 1 and 2 are from the author’s book, pp. 40, 57.
 
Literature
1.
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2.
go back to reference Nayak SS. Globalization and the Indian economy: roadmap to convertible rupee. New York: Routledge; 2008. p. 60–1. Nayak SS. Globalization and the Indian economy: roadmap to convertible rupee. New York: Routledge; 2008. p. 60–1.
3.
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5.
go back to reference Nurkse R. Problem of capital formation in underdeveloped countries. Oxford: Oxford University Press; 1966. p. 97–100. Nurkse R. Problem of capital formation in underdeveloped countries. Oxford: Oxford University Press; 1966. p. 97–100.
6.
go back to reference Nayak SS. Global monetary experience and India. Bombay: Kedien; 1991. p. 67–78. Nayak SS. Global monetary experience and India. Bombay: Kedien; 1991. p. 67–78.
Metadata
Title
US Savings Gap Versus Global Liquidity Reflux
Author
Satyendra Nayak
Copyright Year
2013
Publisher
Springer India
DOI
https://doi.org/10.1007/978-81-322-0798-6_12