Alternative View of Petrodollar Recycling
In an alternative view of petrodollar recycling, based on balance of payments and banking data from the 1970s and 1980s, David Spiro shows that a large portion of Arab petrodollars were invested directly in US government securities, and in the financial markets of the largest five economies. OPEC countries were net lenders to commercial banks, but this was not the primary channel for petrodollar recycling.
Read more about this topic: Petrodollar Recycling
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