NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Linking External Sector Imbalances and Changing Financial Instability before the 2008 Financial Crisis

John Whalley, Manmohan Agarwal, Jing Wang, Sean Walsh, Chen Yan

NBER Working Paper No. 17645
Issued in December 2011

---- Acknowledgments ----

We are grateful to the Ontario Research Fund (ORF) and the Center for International Governance Innovation (CIGI) for support. We thank Daniel Schwanen and Li Chunding for discussions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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