Hwang, Sun Ho; Kwon, Dohyoung - 2022
favorable shock to global demand and supply has a strong and positive effect on emerging markets, whereas an unanticipated rise … global shocks. In particular, the demand shock is the most critical, explaining roughly 30% of the fluctuation in output …, explaining about 20% respectively, whereas the supply shock is closely associated with the medium-to-long-term variation …
