Prasad, Eswar; Terrones, Marco; Kose, M. Ayhan - International Monetary Fund (IMF) - 2005
integration that has intensified since the mid-1980s. Using a comprehensive new data set, we document that, while the basic … negative association between growth and volatility has been preserved during the 1990s, both trade and financial integration … controls, the estimated coefficient on the interaction between volatility and trade integration is significantly positive. We …