Mr.Philip R. Lane

Global Imbalances and External Adjustment after the Crisis

This paper has two objectives. First, it reviews the recent dynamics of global imbalances (both “flow” and “stock” imbalances), with a special...

International Financial Integration in the Aftermath of the Global Financial Crisis

This paper documents the evolution of international financial integration since the global financial crisis using an updated dataset on external asset...

External Adjustment and the Global Crisis

After widening substantially in the period preceding the global financial crisis, current account imbalances across the world have contracted to a sig...

The Cross-Country Incidence of the Global Crisis

We examine whether the cross-country incidence and severity of the 2008-2009 global recession is systematically related to pre-crisis macroeconomic an...

The External Wealth of Nations

Measures of Foreign Assets and Liabilities for Industrial and Developing Countries

Capital flows are closely monitored, but surprisingly little is known about the stocks of external assets and liabilities held by countries, especiall...

International Financial Integration

In recent decades, the foreign assets and liabilities of advanced economies have grown rapidly relative to GDP, with the increase in gross cross-holdi...