Imbalances could treble in next two decades: Bank's Haldane
Bank of England executive director Andy Haldane charts course of global imbalances, pointing to trends likely to widen them
Financial integration and differences in savings behaviour could treble global imbalances by 2040, Andy Haldane, the executive director for financial stability at the Bank of England, said in a speech published Tuesday.
Cross-country GDP convergence was one structural factor which would shape the path of financial integration, Haldane said, noting that the convergence of international income levels is a well established empirical phenomenon. "Accompanying this GDP convergence is likely to be a
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