Has Globalization Really Increased Business Cycle Synchronization?
نویسندگان
چکیده
منابع مشابه
Globalization and Business Cycle Synchronization:
This paper empirically investigates the impact of globalization on the business cycle comovement of individual US states with the rest of the national economy and with the rest of world. Regressions with panel data over the period 1990-2005 provide strong evidence in support of the conventional wisdom that rising global integration over time, through either trade or foreign direct investment fl...
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This paper examines whether European integration, manifesting itself in increased trade and FDI linkages, new specializations and economic policy coordination, contributed to the synchronization of business cycles in the enlarged EU. We estimate the effects on bilateral growth rate correlations in 1995-2008 in a simultaneous equations model which permits to model endogenous relationships and un...
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The phenomenon of globalization, which refers to the rising trade and nancial integration of the world economy, has gathered steam in recent decades. The growth rate of world trade has been greater than that of world output in almost all years since 1960, and the cumulative increase in the volume of world trade is almost three times larger than that of world output over this period. A more dr...
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This paper analyses the evolution of the business cycle worldwide synchronization since 1960. For that, it purposes a correlation index that allows to measure the cross-country synchronization period per period rather than using time windows. This new methodlogy allows to control for outliers when synchronizion across countries increased/droped unexpectedly in single years, and so, it can check...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2772560