bank for international settlements · current account balance3 current and previous cycle in the...
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BANK FOR INTERNATIONAL SETTLEMENTS
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1"
BANK FOR INTERNATIONAL SETTLEMENTS" Restricted
Global imbalan(:es and exchange rates
Table 1
Changes in current account imbalances 1997-2003
Country/region
United States
Euro area
Japan
Emerging Asia
Latin America
Transition economies
Others
Total
Source: IMF.
Table 2
Table 3
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Graph 3 Saving and investment in the United Sta te s
As a percentage 01 GDP
12
8
4
o
-4
-8
I I I I I I I1997 1998 1999 2000 2001 2002 2003 -12
, Delined as gross saving less gross investment.
Source: US Bureau 01 Economic Analysis (SGB table 5.1).
Graph 4 Current account and long-term capital in the United States
In billions of US dollars600
500
400
300
200
100
o
I I I I I I II I I I I I '-100
1997 1998 1999 2000 2001 2002 2003
Source: US Bureau 01 Economic Analysis.
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Graph 5 US current account and domestic saving-investment balances
As a percentage of GDP
I:=::J Current account-Public sector saving/investment-Private sector saving/investment
6
4
l/ 2
o-
-2
-4
-6-
c 1 I I I I I , I , I 1 "1 1 1 I I , 1 I 1 I I I I I 1 I I 1 1 I , , I I , , I I I , , I I 1 ; ,1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
Source: US Bureau 01 Economic Analysis.
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