1 “... on international capital mobility. In contrast, the rapid pace of financial globalization during recent years poses...”

2 “...Although Europe in the aggregate is a not a major contributor to global current account imbalances...”

3 “...After widening substantially in the period preceding the global financial crisis, current account...”

4

5 “...We examine whether the cross-country incidence and severity of the 2008-2009 global recession...”

6 “...This paper has two objectives. First, it reviews the recent dynamics of global imbalances (both...”

7 Subjects: “...Global Financial Crisis, 2008-2009...”

8 “... and the global level. We focus on trends in net and gross external positions, and the composition...”

9 “... by calculating the importance of these locations in the global aggregate of cross-border investment positions...”