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Vertical Specialization And International Business Cycle Synchronization
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Book Synopsis Global Business Cycles by : Mr.Ayhan Kose
Download or read book Global Business Cycles written by Mr.Ayhan Kose and published by International Monetary Fund. This book was released on 2008-06-01 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common across all variables and countries; (ii) three group-specific factors, which capture fluctuations that are common to all variables and all countries within each group of countries; (iii) country factors, which are common across all aggregates in a given country; and (iv) idiosyncratic factors specific to each time series. Our main result is that, during the period of globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies and among the group of emerging market economies. Surprisingly, there has been a concomitant decline in the relative importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups of countries but divergence (or decoupling) between them.
Book Synopsis Global Declining Competition by : Mr.Federico J Diez
Download or read book Global Declining Competition written by Mr.Federico J Diez and published by International Monetary Fund. This book was released on 2019-04-26 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a new firm-level dataset on private and listed firms from 20 countries, we document five stylized facts on market power in global markets. First, competition has declined around the world, measured as a moderate increase in average firm markups during 2000- 2015. Second, the markup increase is driven by already high-markup firms (top decile of the markup distribution) that charge increasing markups. Third, markups increased mostly among advanced economies but not in emerging markets. Fourth, there is a non-monotonic relation between firm size and markups that is first decreasing and then increasing. Finally, the increase is mostly driven by increases within incumbents and also by market share reallocation towards high-markup entrants.
Book Synopsis Trade Integration and Business Cycle Synchronization by : Mr.Romain A Duval
Download or read book Trade Integration and Business Cycle Synchronization written by Mr.Romain A Duval and published by International Monetary Fund. This book was released on 2014-04-03 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reexamines the relationship between trade integration and business cycle synchronization (BCS) using new value-added trade data for 63 advanced and emerging economies during 1995–2012. In a panel framework, we identify a strong positive impact of trade intensity on BCS—conditional on various controls, global common shocks and country-pair heterogeneity—that is absent when gross trade data are used. That effect is bigger in crisis times, pointing to trade as an important crisis propagation mechanism. Bilateral intra-industry trade and trade specialization correlation also appear to increase co-movement, indicating that not only the intensity but also the type of trade matters. Finally, we show that dependence on Chinese final demand in value-added terms amplifies the international spillovers and synchronizing impact of growth shocks in China.
Book Synopsis Global Economic Prospects, June 2021 by : World Bank
Download or read book Global Economic Prospects, June 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-08-03 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Book Synopsis Global Interdependence, Decoupling, and Recoupling by : Yin-Wong Cheung
Download or read book Global Interdependence, Decoupling, and Recoupling written by Yin-Wong Cheung and published by MIT Press. This book was released on 2013-11-15 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investigations of the propagation and influence of global shocks among the economies of developed and developing countries.
Book Synopsis Trade Intensity and Business Cycle Synchronization by : César Calderón
Download or read book Trade Intensity and Business Cycle Synchronization written by César Calderón and published by . This book was released on 2002 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Measuring and Analyzing the Impact of GVCs on Economic Development by : World Trade Organization
Download or read book Measuring and Analyzing the Impact of GVCs on Economic Development written by World Trade Organization and published by World Trade Organization. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report is about a huge contribution to our deepening understanding of what the global economy really means and how it is changing. The report helpfully distinguishes elements of an economy that are tradable and the large set that are non-tradable. Clearly the tradables set is expanding with the support of enabling technology. The report argues that connectivity in the networks that define the evolving architecture of GVCs is important. This Global Value Chain Development Report is the result of intensive and detailed work in assembling and analyzing data on the structure of economies and on how they are linked. It creates a much clearer picture of evolving patterns of independence. It also presents a much clearer picture of comparative advantage. --Publisher description.
Book Synopsis Uncovering Value Added In Trade: New Approaches To Analyzing Global Value Chains by : Yuqing Xing
Download or read book Uncovering Value Added In Trade: New Approaches To Analyzing Global Value Chains written by Yuqing Xing and published by World Scientific. This book was released on 2015-07-13 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value chain trade has challenged economic implications of conventional trade statistics and transformed bilateral trade relationships into multilaterals. Conventional trade statistics exaggerate trade volumes and bilateral trade imbalances. It is imperative to measure trade in value-added and examine trade relations in the context of global value chains. This book is a collection of research papers on new approaches to measure trade in value added and the role of global value chains in modern international trade. It introduces the input output method for measuring trade and a direct approach for measuring the domestic value added of the People's Republic of China — the center of global assembly. In addition, it shows how to analyze trade relations in the context of global value chains.
Book Synopsis Global Economic Prospects, January 2019 by : World Bank Group
Download or read book Global Economic Prospects, January 2019 written by World Bank Group and published by World Bank Publications. This book was released on 2019-02-12 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: The outlook for the global economy has darkened. Global financing conditions have tightened, industrial production has moderated, trade tensions have intensified, and some large emerging market and developing economies have experienced significant financial market stress. Faced with these headwinds, the recovery in emerging market and developing economies has lost momentum. Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes. Debt vulnerabilities in emerging market and developing economies, particularly low-income countries, have increased. More frequent severe weather events would raise the possibility of large swings in international food prices, which could deepen poverty. In this difficult environment, it is of paramount importance for emerging market and developing economies to rebuild policy buffers while laying a stronger foundation for future growth by boosting human capital, promoting trade integration, and addressing the challenges associated with informality,
Book Synopsis The Great Trade Collapse: Causes, Consequences and Prospects by : Richard E. Baldwin
Download or read book The Great Trade Collapse: Causes, Consequences and Prospects written by Richard E. Baldwin and published by CEPR. This book was released on 2009 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book ICEBE 2020 written by Darmawan Napitupulu and published by European Alliance for Innovation. This book was released on 2021-04-19 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Proceeding book presented the International Conference of Economics, Business & Entrepreneurship (ICEBE), which is an international conference hosted by Faculty of Economics & Business Universitas Lampung (FEB-UNILA) in collaboration with Magister Manajemen Teknologi Universitas Multimedia Nusantara. Total 50 full papers presented were carefully reviewed and selected from 85 submissions with the topics not limited to Finance, Accounting, Marketing and Digital Innovation. The ICEBE 2020 Conference was conducted virtually, on 01 October 2020 which had been attended by academics and researchers from various universities worldwide including practitioners with the theme Innovation and Sustainability in the Digital Age.
Book Synopsis Asia and Global Production Networks by : Benno Ferrarini
Download or read book Asia and Global Production Networks written by Benno Ferrarini and published by Edward Elgar Publishing. This book was released on 2014-10-31 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book deploys new tools and measures to understand how global production networks change the nature of global economic interdependence, and how that in turn changes our understanding of which policies are appropriate in this new environment.
Download or read book Lessons from NAFTA written by Luis Serven and published by World Bank Publications. This book was released on 2004-11-15 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), 'Lessons from NAFTA' aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality. This book will be of interest to scholars and policymakers interested in international trade and development.
Book Synopsis World Development Report 2020 by : World Bank
Download or read book World Development Report 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-19 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Download or read book American Economic Journal written by and published by . This book was released on 2010 with total page 1202 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimating Trade Elasticities by : Jaime Marquez
Download or read book Estimating Trade Elasticities written by Jaime Marquez and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: One cannot exaggerate the importance of estimating how international trade responds to changes in income and prices. But there is a tension between whether one should use models that fit the data but that contradict certain aspects of the underlying theory or models that fit the theory but contradict certain aspects of the data. The essays in Estimating Trade Elasticities book offer one practical approach to deal with this tension. The analysis starts with the practical implications of optimising behaviour for estimation and it follows with a re-examination of the puzzling income elasticity for US imports that three decades of studies have not resolved. The analysis then turns to the study of the role of income and prices in determining the expansion in Asian trade, a study largely neglected in fifty years of research. With the new estimates of trade elasticities, the book examines how they assist in restoring the consistency between elasticity estimates and the world trade identity.
Book Synopsis Business Fluctuations and Cycles by : T. Nagakawa
Download or read book Business Fluctuations and Cycles written by T. Nagakawa and published by Nova Publishers. This book was released on 2008 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The business cycle or economic cycle refers to the periodic fluctuations of economic activity about its long term growth trend. The cycle involves shifts over time between periods of relatively rapid growth of output (recovery and prosperity), alternating with periods of relative stagnation or decline (contraction or recession). These fluctuations are often measured using the real gross domestic product. One of the government's main roles is to smooth out the business cycle and reduce its fluctuations. To call those alternances 'cycles' is rather misleading as they don't tend to repeat at fairly regular time intervals. Most observers find that their lengths (from peak to peak, or from trough to trough) vary, so that cycles are not mechanical in their regularity. Since no two cycles are alike in their details, some economists dispute the existence of cycles and use the word 'fluctuations' (or the like) instead. Others see enough similarities between cycles that the cycle is a valid basis of studying the state of the economy. A key question is whether or not there are similar mechanisms that generate recessions and/or booms that exist in capitalist economies so that the dynamics that appear as a cycle will be seen again and again. This new book presents leading-edge research in this field.
