| HT PAREKH FINANCE COLUMN |
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| The Return of Fiscal Dominance Suman Bery countries with general government deficits above 10% of GDP. Just a year later, by end 2009, an astonishing 45% of global GDP was in countries with deficits above that threshold. These include the United States |
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The Return of Fiscal Dominance
Cross-border finance will increasingly be shaped by the fiscal crisis in the advanced countries.
Suman Bery (sbery@ncaer.org) is with the National Council of Applied Economic Research, New Delhi.
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