model. The model contains a world factor, country-specific factors, sector-specific factors, and idiosyncratic components … country-factors. The world factor appears to play a minimal role because, when using aggregate data, the world factor captures … in the volatility of world shocks during the globalization period, rather than a lower sensitivity of sectoral growth to …

world have altered the transmission mechanism of international business cycles to Latin America. Evidence based on a Global … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China's economic growth in the future for both Latin America and the rest of the world economy …