This paper integrates a few past inputs of the author on the causes for the present international economic downturn and tries to identify some of its main structural causes. The deficit of the balance of payments current account, in fact, with the subsequent creation of public and private certificates of indebtness, may seem to have generated the conditions for the turmoil on the financial and real markets through the creation of sometimes disputable financial instruments.
Real trubles and financial veil: the current accounts dilemma / P. Parravicini - In: Real and financial issues in the international economic downturn : University of Milan Papers and Proceedings of the 9. Round Table of Costantino Bresciani Turroni Foundation / [a cura di] G. Goisis, P. Parravicini. - Milano : McGraw-Hill, 2011. - ISBN 9788838673009. - pp. 87-100 (( Intervento presentato al 9. convegno L'economia reale e finanziaria a due anni dalla crisi tenutosi a Milano nel 2010.
Real trubles and financial veil: the current accounts dilemma
P. ParraviciniPrimo
2011
Abstract
This paper integrates a few past inputs of the author on the causes for the present international economic downturn and tries to identify some of its main structural causes. The deficit of the balance of payments current account, in fact, with the subsequent creation of public and private certificates of indebtness, may seem to have generated the conditions for the turmoil on the financial and real markets through the creation of sometimes disputable financial instruments.
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