In the wake of the economic crisis, policymakers around the world renewed their focus on key imbalances in major economieswith an eye toward reducing vulnerabilities that led to market upheaval and global recession. Two aspects received particular attention: First, were the main global fault lines responsible for the crisis rooted in global imbalances? Second, is global rebalancing essential for securing durable recovery following the crisis? This volume presents seven case studies that provide an assessment of the ...
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In the wake of the economic crisis, policymakers around the world renewed their focus on key imbalances in major economieswith an eye toward reducing vulnerabilities that led to market upheaval and global recession. Two aspects received particular attention: First, were the main global fault lines responsible for the crisis rooted in global imbalances? Second, is global rebalancing essential for securing durable recovery following the crisis? This volume presents seven case studies that provide an assessment of the underlying causes and internal or global risks of key imbalances in these major systemic economies. Much of the material is derived from IMF staffs sustainability reports prepared for the G-20 Mutual Assessment Process (MAP). These studies offer essential analyses and assessments as inputs for global rebalancing scenarios. It also provides a multilateral perspective on the benefits from global rebalancing and collective actiondrawing from the country implications of the i
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