Global Rebalancing: A Roadmap for Economic Recovery

Books, August 9, 2013

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Global Rebalancing: A Roadmap for Economic Recovery

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Bibliographic details

• Authors: Hamid Faruqee, Krishna Srinivasan
• Published: August 9, 2013
• Series: Books
• DOI: https://doi.org/10.5089/9781475573664.071

Scope and Purpose

• Examines imbalances in seven major economies: China, France, Germany, India, Japan, the United Kingdom, and the United States.
• Evaluates key indicators agreed on by the G20 for identifying large imbalances, including:
  • public and private debt,
  • private saving,
  • countries external position.
• Describes a suite of corrective steps tailored for each country that, if implemented, could improve prospective economic outcomes and create sustainable and balanced growth for these economies and serve as a model for other G20 countries.

Major Analytical Themes

• Balance of payments and current account positions:
  • Current account deficits and current account surpluses are central diagnostic variables.
• Fiscal policy and public debt:
  • Fiscal consolidation and public debt dynamics are evaluated as part of adjustment strategies.
• Private sector dynamics and saving-investment balance:
  • Private saving and saving-investment balance are assessed across countries.
• Structural and policy reforms:
  • Product market reforms and revenue administration improvements are discussed as corrective measures.
• Sustainability and scenario analysis:
  • Upside scenario considerations are included as part of prospective outcome assessments.

Key Findings and Recommendations (as summarized on the landing page)

• Country-by-country diagnostics identify large imbalances using G20-agreed indicators.
• Tailored corrective steps are proposed for each of the seven economies to:
  • Reduce vulnerabilities from high public and private debt.
  • Rebalance external positions where persistent surpluses or deficits exist.
  • Strengthen fiscal policy frameworks and revenue administration.
  • Encourage sustainable private saving and investment patterns.
  • Implement product market and structural reforms to support balanced growth.

Publication and Metadata

• Authors: Hamid Faruqee, Krishna Srinivasan
• Publication date: August 9, 2013
• Pages: 178
• DOI: https://doi.org/10.5089/9781475573664.071
• Stock No: RRCAEA
• ISBN: 9781475573664
• Subjects and keywords include: Balance of payments, Current account deficits, Current account surpluses, Fiscal consolidation, Fiscal policy, Public debt, Revenue administration; BOOK, countries domestic, current account, deficit, Europe, Fiscal consolidation, Global, interest rate, private sector, product market, saving, saving-investment balance, surplus, surplus country, sustainability report, upside scenario

Global Rebalancing: A Roadmap for Economic Recovery, Hamid Faruqee and Krishna Srinivasan, August 9, 2013. DOI: https://doi.org/10.5089/9781475573664.071