Trade Integration And Business Cycle Synchronization

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Trade Integration and Business Cycle Synchronization

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Author : Mr.Romain A Duval
Publisher : International Monetary Fund
ISBN 13 : 1475523599
Total Pages : 46 pages
Book Rating : 4.4/5 (755 download)

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.

Costs and Benefits of Economic Integration in Asia

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Author : Robert J. Barro
Publisher : Oxford University Press
ISBN 13 : 0199780773
Total Pages : 304 pages
Book Rating : 4.1/5 (997 download)

Book Synopsis Costs and Benefits of Economic Integration in Asia by : Robert J. Barro

Download or read book Costs and Benefits of Economic Integration in Asia written by Robert J. Barro and published by Oxford University Press. This book was released on 2011-01-04 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Costs and Benefits of Economic Integration in Asia brings together authoritative essays that identify and examine various initiatives to promote economic integration in Asia.

Macroeconomic Policies in the World Economy

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Author : Horst Siebert
Publisher : Springer Science & Business Media
ISBN 13 : 9783540219170
Total Pages : 364 pages
Book Rating : 4.2/5 (191 download)

Book Synopsis Macroeconomic Policies in the World Economy by : Horst Siebert

Download or read book Macroeconomic Policies in the World Economy written by Horst Siebert and published by Springer Science & Business Media. This book was released on 2004-08-02 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: The integration of goods and financial markets has progressed on a global scale in recent years. Thus, the cyclical patterns in the world economy may have changed too. Against this background, experts in international economics analyze the synchronization of business cycles and their volatility in this book. Is there an European business cycle? What is the role of multinational corporations and monetary policy in transmitting business cycles? Further, they discuss the need and feasibility of internationally coordinating monetary and exchange rate policies and the quantitative effects of tax competition.

Hysteresis and Business Cycles

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Author : Ms.Valerie Cerra
Publisher : International Monetary Fund
ISBN 13 : 1513536990
Total Pages : 50 pages
Book Rating : 4.5/5 (135 download)

Book Synopsis Hysteresis and Business Cycles by : Ms.Valerie Cerra

Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.

World Business Cycles

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Author : Economist Newspaper Limited
Publisher : Economist Newspaper Limited
ISBN 13 :
Total Pages : 198 pages
Book Rating : 4.:/5 (318 download)

Book Synopsis World Business Cycles by : Economist Newspaper Limited

Download or read book World Business Cycles written by Economist Newspaper Limited and published by Economist Newspaper Limited. This book was released on 1982 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Global Business Cycles

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Author : Mr.Ayhan Kose
Publisher : International Monetary Fund
ISBN 13 : 1451870019
Total Pages : 51 pages
Book Rating : 4.4/5 (518 download)

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.

World Development Report 2020

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Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 1464814953
Total Pages : 545 pages
Book Rating : 4.4/5 (648 download)

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.

Trade Integration and Business Cycle Synchronization

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Author : Mr.Romain A Duval
Publisher : International Monetary Fund
ISBN 13 : 1475522460
Total Pages : 46 pages
Book Rating : 4.4/5 (755 download)

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.

Lessons from NAFTA

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Author : Luis Serven
Publisher : World Bank Publications
ISBN 13 : 0821383744
Total Pages : 432 pages
Book Rating : 4.8/5 (213 download)

Book Synopsis Lessons from NAFTA by : Luis Serven

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.

China's Changing Trade and the Implications for the CLMV

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Author : Mr.Koshy Mathai
Publisher : International Monetary Fund
ISBN 13 : 1475531710
Total Pages : 84 pages
Book Rating : 4.4/5 (755 download)

Book Synopsis China's Changing Trade and the Implications for the CLMV by : Mr.Koshy Mathai

Download or read book China's Changing Trade and the Implications for the CLMV written by Mr.Koshy Mathai and published by International Monetary Fund. This book was released on 2016-09-01 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s trade patterns are evolving. While it started in light manufacturing and the assembly of more sophisticated products as part of global supply chains, China is now moving up the value chain, “onshoring” the production of higher-value-added upstream products and moving into more sophisticated downstream products as well. At the same time, with its wages rising, it has started to exit some lower-end, more labor-intensive sectors. These changes are taking place in the broader context of China’s rebalancing—away from exports and toward domestic demand, and within the latter, away from investment and toward consumption—and as a consequence, demand for some commodity imports is slowing, while consumption imports are slowly rising. The evolution of Chinese trade, investment, and consumption patterns offers opportunities and challenges to low-wage, low-income countries, including China’s neighbors in the Mekong region. Cambodia, Lao P.D.R., Myanmar, and Vietnam (the CLMV) are all open economies that are highly integrated with China. Rebalancing in China may mean less of a role for commodity exports from the region, but at the same time, the CLMV’s low labor costs suggest that manufacturing assembly for export could take off as China becomes less competitive, and as China itself demands more consumption items. Labor costs, however, are only part of the story. The CLMV will need to strengthen their infrastructure, education, governance, and trade regimes, and also run sound macro policies in order to capitalize fully on the opportunities presented by China’s transformation. With such policy efforts, the CLMV could see their trade and integration with global supply chains grow dramatically in the coming years.

Global Economic Prospects, June 2021

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Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 1464816662
Total Pages : 339 pages
Book Rating : 4.4/5 (648 download)

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.

Uncovering Value Added In Trade: New Approaches To Analyzing Global Value Chains

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Author : Yuqing Xing
Publisher : World Scientific
ISBN 13 : 9814656372
Total Pages : 181 pages
Book Rating : 4.8/5 (146 download)

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.

European Business Cycle Convergence

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Author : Jennifer Schneider
Publisher : Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
ISBN 13 : 9783631639740
Total Pages : 218 pages
Book Rating : 4.6/5 (397 download)

Book Synopsis European Business Cycle Convergence by : Jennifer Schneider

Download or read book European Business Cycle Convergence written by Jennifer Schneider and published by Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften. This book was released on 2013 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is the euro area getting closer with regard to business cycles? The study investigates the linkage between business cycle convergence and financial portfolio choice for a panel of 18 European countries. For this purpose an index is constructed which measures the similarity of investment portfolios. The idea is that financial portfolio choice has an impact on business cycles and contributes to convergence via the consumption-wealth linkage. The background of the analysis is the International Asset Pricing Model (IAPM). The results of fixed effects GMM TSLS estimations confirm the linkage. The effect is higher for country-pairs that are built by one euro area member and one member outside the euro area.

Trade Integration and Business Cycle Synchronization in East Asia

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Author : Kwanho Shin
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (318 download)

Book Synopsis Trade Integration and Business Cycle Synchronization in East Asia by : Kwanho Shin

Download or read book Trade Integration and Business Cycle Synchronization in East Asia written by Kwanho Shin and published by . This book was released on 2003 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Measuring and Analyzing the Impact of GVCs on Economic Development

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Author : World Trade Organization
Publisher : World Trade Organization
ISBN 13 : 9789287041258
Total Pages : 0 pages
Book Rating : 4.0/5 (412 download)

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.

Financial Integration and Asset Returns

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Author : Philippe J. Martin
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.X/5 (6 download)

Book Synopsis Financial Integration and Asset Returns by : Philippe J. Martin

Download or read book Financial Integration and Asset Returns written by Philippe J. Martin and published by . This book was released on 1999 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Trade Integration and Business Cycle Synchronization in Europe

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Author : Kwan-ho Sin
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (318 download)

Book Synopsis Trade Integration and Business Cycle Synchronization in Europe by : Kwan-ho Sin

Download or read book Trade Integration and Business Cycle Synchronization in Europe written by Kwan-ho Sin and published by . This book was released on 2003 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: