000			02294cam a2200337 a 4500
005			20150623165225.0
008			941125s1994 nyu b 000 0 eng d
010			_a 93044094
020			_a0333613430
040			_aCaOWTU _beng
050	0	0	_aHG4538 _b.M335 1994
060			_a332.042 _bMI
082	0	0	_a332.042 _220
082	0		_a332.042$220
084			_a332.042 _bMI
100	1		_aMakin, A. J.
245	1	0	_aInternational capital mobility and external account determination _h[Book /] _cA.J. Makin.
260			_aNew York, NY : _bSt. Martin's Press, _c1994.
300			_axiii, 147 p. : _bill. ; _c24 cm.
504			_aIncludes bibliographical references (p. 123-140) and index.
505	0		_a1. Introduction -- 2. The External Accounting Framework -- 3. Traditional Approaches to the External Accounts -- 4. Capital-theoretic Approaches to the External Accounts -- 5. Capital Mobility and the External Accounts -- 6. Policy Issues and Conclusion.
520			_aThis book examines the causes, consequences and policy implications of international capital movements and nations' balance of payments accounts in the context of an increasingly integrated global economy. After providing a detailed macroeconomic accounting framework for open economies, the book critically evaluates traditional theoretical approaches to balance of payments analysis, such as the classical, elasticities, absorption, monetary and Keynesian-inspired approaches. Alternative capital-centred approaches are then outlined to highlight the real significance of capital movements and external 'imbalances' in the financially liberalised world economy.
520	8		_aThe book sustains the argument that external 'imbalances' are not themselves problematic, as they may simply reflect increased international trade in saving, which is welfare-enhancing. This has obvious policy implications since there is a widespread, yet misunderstood, view in international financial markets and economic policy circles that external account 'imbalances' are undesirable and hence should be targeted explicitly by the authorities.
521			_aAll age.
650		0	_aInvestments, Foreign.
650		0	_aBalance of payments.
650		0	_aBalance of trade.
001			0000023950
003			0000
942			_cBK
999			_c14032 _d14032