This paper studies the changes in world business cycles during 1960-2003. We employ a Bayesian dynamic latent factor … globalization period (1986-2003). The results indicate that the common (G-7) factor explains a larger fraction of output …, consumption, and investment volatility in the globalization period than in the BW period. These findings suggest that the degree …

globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …

context of globalization-a term typically used to describe the phenomenon of growing international trade and financial …

The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by …

This paper documents stylized facts on the process of structural transformation around the world and empirically …

Financial globalization has increased dramatically over the past three decades, particularly for advanced economies … principle, financial globalization should enhance international risk sharing, reduce macroeconomic volatility, and foster …

declined over the same period. In short, the recent era of globalization has witnessed the emergence of regional business …

countries, the South, driven by the process of globalization?the phenomenon of rising international trade and financial flows … economic activity on the Emerging South has declined during the globalization period (1986-2005). In contrast, the growth …