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dc.contributor.authorKose, M. Ayhanen_US
dc.contributor.authorPrasad, Eswaren_US
dc.contributor.authorTerrones, Marco E.en_US
dc.coverage.temporal1960-1999en_US
dc.date.accessioned2009-01-28T16:15:34Z-
dc.date.available2009-01-28T16:15:34Z-
dc.date.issued2003en_US
dc.identifier.urihttp://hdl.handle.net/10419/20635-
dc.description.abstractThis paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and financial integration enhance global spillovers of macroeconomic fluctuations is mostly limited to industrial countries. One striking result is that, on average, cross-country consumption correlations have not increased in the 1990s, precisely when financial integration would have been expected to result in better risk-sharing opportunities, especially for developing countries.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesIZA Discussion paper series 702en_US
dc.subject.jelE32en_US
dc.subject.jelF42en_US
dc.subject.jelF41en_US
dc.subject.ddc330en_US
dc.subject.keywordmacroeconomic fluctuationsen_US
dc.subject.keywordtrade and financial integrationen_US
dc.subject.keywordinternational transmission of shocksen_US
dc.subject.stwKonjunkturzusammenhangen_US
dc.subject.stwGlobalisierungen_US
dc.subject.stwAußenwirtschaften_US
dc.subject.stwSchätzungen_US
dc.subject.stwWelten_US
dc.subject.stwIndustriestaatenen_US
dc.subject.stwEntwicklungsländeren_US
dc.titleHow Does Globalization Affect the Synchronization of Business Cycles?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn362201285en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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