Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/20635 
Erscheinungsjahr: 
2003
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 702
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
This 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.
Schlagwörter: 
macroeconomic fluctuations
trade and financial integration
international transmission of shocks
JEL: 
E32
F42
F41
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
411.82 kB





Publikationen in EconStor sind urheberrechtlich geschützt.