Lee, Hyun-Hoon; Park, Cyn-Young; Pyun, Ju Hyun - 2022
of 72 economies during 2010-2019, we find that real and financial integration generates heterogeneous impacts on business … cycle comovement. Trade integration, particularly through intermediate input trade, drives business cycle synchronization … global value chains. Higher debt market integration is also associated with more synchronized business cycle comovement …