Bettin, Giulia; Presbitero, Andrea; Spatafora, Nicola - International Monetary Fund (IMF) - 2014
, and adverse shocks in both source and recipient economies. We exploit a novel, rich panel data set, covering bilateral … negatively correlated with the business cycle in recipient countries, and increase in response to adverse exogenous shocks, such … conditions in the source province. Nevertheless, in the presence of similar negative shocks to both source and recipient …