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Does Openness to International Financial Flows Contribute to Productivity Growth?
Kose, M. Ayhan; Prasad, Eswar; Terrones, Marco E. - Institute for the Study of Labor (IZA) - 2008
Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output growth, far less attention has been paid to its...
Persistent link: https://www.econbiz.de/10005822435
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How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility?
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - Institute for the Study of Labor (IZA) - 2006
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom – that output volatility and growth are negatively correlated. We reexamine this relationship in the context of globalization – a term typically used...
Persistent link: https://www.econbiz.de/10005233764
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Global Business Cycles: Convergence or Decoupling?
Kose, M. Ayhan; Otrok, Christopher; Prasad, Eswar - Institute for the Study of Labor (IZA) - 2008
, consumption, and investment – into different factors. These are: (i) a global factor, which picks up fluctuations that are common … globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies … importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups …
Persistent link: https://www.econbiz.de/10005566406