Show simple record

dc.contributor.authorRankin, Keith
dc.description.abstractThis statistical presentation builds on previous papers (Rankin 2014a, 2014b) which explore the literature of financial balances. Using current account and general government net lending, the paper analyses private sector and government sector balances for 100 selected countries, including all the major national economies and selections representing the world's regions. This enables us to take a global view of the financial circumstances of national economies, and supra-national regional economies. For any country, domestic and foreign balances must add to zero, an accounting identity. This means that private and government balances combined equal the current account balance. For the world as a whole – a closed financial system – private and government balances add to zero, over any period of time. The world's current account balance is always zero, an accounting identity. In the long run, we would expect to see combined domestic balances in every country approach zero as short-term foreign imbalances resolve through exchange rate mechanisms. This paper uses the period from 1995-2014 as a proxy for the 'recent' long-run, and 2010-14 as the recent post-financial-crisis short run. With governments in many economies seeking to consolidate their fiscal balances in a recent period of private-sector financial caution, accommodations must be found if fiscal targets are to be achieved. The paper investigates which groupings of national economies have provided these accommodations. It notes that, especially over the longer term, New Zealand has an unusually accommodating financial profile.en_NZ
dc.publisherNew Zealand Association of Economists (NZAE)en_NZ
dc.rightsAll rights reserveden_NZ
dc.subjectgovernment debten_NZ
dc.subjectprivate debten_NZ
dc.subjectfiscal policyen_NZ
dc.subjectfinancial balancesen_NZ
dc.subjectnational economiesen_NZ
dc.titlePlacing nations' sectoral surpluses and deficits into their global contexten_NZ
dc.typeConference Contribution - Paper in Published Proceedingsen_NZ
dc.subject.marsden140212 Macroeconomics (incl. Monetary and Fiscal Theory)en_NZ
dc.subject.marsden140203 Economic Historyen_NZ
dc.identifier.bibliographicCitationRankin, K. R. (2015, July). Placing Nations' Sectoral Surpluses and Deficits into their Global Context. NZ Association of Economists (Ed.), 56th Annual Conference of the New Zealand Association of Economists.en_NZ
unitec.institutionUnitec Institute of Technologyen_NZ
unitec.conference.title56th Annual Conference of the New Zealand Association of Economistsen_NZ
unitec.conference.orgNew Zealand Association of Economists (NZAE)en_NZ
unitec.conference.locationWestpac Stadium, Waterloo Quay, Wellington, New Zealanden_NZ
dc.contributor.affiliationUnitec Institute of Technologyen_NZ
unitec.institution.studyareaAccounting and Finance

Files in this item


This item appears in

Show simple record

 Unitec Institute of Technology, Private Bag 92025, Victoria Street West, Auckland 1142