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The great synchronization of international trade collapse
Antonakakis, Nikolaos - In: Economics Letters 117 (2012) 3, pp. 608-614
In this paper we examine the extent of international trade synchronization during periods of international trade …–2011, our results suggest rather idiosyncratic patterns of international trade synchronization during collapses of international … trade and US recessions. During the great recession of 2007–2009, however, international trade experienced the most sudden …
Persistent link: https://www.econbiz.de/10010594085
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Business cycle synchronization during US recessions since the beginning of the 1870s
Antonakakis, Nikolaos - In: Economics Letters 117 (2012) 2, pp. 467-472
This paper examines the synchronization of business cycles across the G7 countries during US recessions since the 1870s …–2009 recession, business cycles co-movements increased to unprecedented levels. …
Persistent link: https://www.econbiz.de/10010580451
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If the United States sneezes, does the world need “pain-killers”?
Herrerias, M.J.; Ordóñez, J. - In: International Review of Economics & Finance 31 (2014) C, pp. 159-170
nonlinear framework allows the asymmetries of the business cycle to be captured properly to identify the synchronization …
Persistent link: https://www.econbiz.de/10011048282
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Financial Globalization, Growth and Volatility in Developing Countries
Prasad, Eswar; Rogoff, Kenneth S; Wei, Shang-Jin; Kose, … - National Bureau of Economic Research (NBER) - 2004
This paper provides a comprehensive assessment of empirical evidence about the impact of financial globalization on growth and volatility in developing countries. The results suggest that it is difficult to establish a robust causal relationship between financial integration and economic growth....
Persistent link: https://www.econbiz.de/10005085262
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Trends and Impacts of Real and Financial Globalization in the People's Republic of China and India since the 1980s
Srinivasan, TN - In: Asian Development Review 30 (2013) 1, pp. 1-30
The dynamic process of integration of national economies has a long history, with two distinct waves: one, from the middle of the 19th century until its interruption with outbreak of the First World War in 1913 till the end of the Second World War in 1945. The second wave is ongoing dating from...
Persistent link: https://www.econbiz.de/10010635932
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Financial Globalization, Growth and Volatility in Developing Countries
Kose, Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2004
This Paper provides a comprehensive assessment of empirical evidence about the impact of financial globalization on growth and volatility in developing countries. The results suggest that it is difficult to establish a robust causal relationship between financial integration and economic growth....
Persistent link: https://www.econbiz.de/10005136571
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Capital Market Integration and Wages
Chari, Anusha; Henry, Peter Blair; Sasson, Diego - National Bureau of Economic Research (NBER) - 2009
For three years after the typical emerging economy opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a control group of countries. The temporary increase in...
Persistent link: https://www.econbiz.de/10005033486
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Economic growth: trade, public finance, and the paradox of thrift
Smithin, John - In: Review of Keynesian Economics 2 (2014) 4, pp. 456-463
The classical argument for free trade stressed the possibilities of economic growth by exploiting the gains from trade. A trade surplus per se was not the main objective; presumably the argument was that trade would be balanced at the new higher growth rate. Moreover, the arguments for free trade...
Persistent link: https://www.econbiz.de/10011133481
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Chronicle of currency collapses: Re examining the effects on output
Bussière, Matthieu; Saxena, Sweta C.; Tovar, Camilo E. - In: Journal of International Money and Finance 31 (2012) 4, pp. 680-708
The impact of currency collapses (i.e. large nominal depreciations or devaluations) on real output remains unsettled in the empirical macroeconomic literature. This paper provides new empirical evidence on this relationship using a dataset for 108 emerging and developing economies over the...
Persistent link: https://www.econbiz.de/10010869442
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Monetary Misconceptions: New and Old Paradigmata and Other Sad Tales
Buiter, Willem H. - C.E.P.R. Discussion Papers - 2000
Several recent studies imply that the response of national saving to fiscal policy is non-monotonic. In this paper, we use two data sets to search for the circumstances in which such non-monotonic responses arise: one refers to a sample of OECD countries, as in previous studies, and one to a...
Persistent link: https://www.econbiz.de/10005124252