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dc.contributor.authorKose, M. Ayhanen
dc.contributor.authorPrasad, Eswaren
dc.contributor.authorTerrones, Marco E.en
dc.date.accessioned2009-01-28T16:15:34Z-
dc.date.available2009-01-28T16:15:34Z-
dc.date.issued2003-
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x702en
dc.subject.jelE32en
dc.subject.jelF42en
dc.subject.jelF41en
dc.subject.ddc330en
dc.subject.keywordmacroeconomic fluctuationsen
dc.subject.keywordtrade and financial integrationen
dc.subject.keywordinternational transmission of shocksen
dc.subject.stwKonjunkturzusammenhangen
dc.subject.stwGlobalisierungen
dc.subject.stwAußenwirtschaften
dc.subject.stwSchätzungen
dc.subject.stwWelten
dc.subject.stwIndustriestaatenen
dc.subject.stwEntwicklungsländeren
dc.titleHow Does Globalization Affect the Synchronization of Business Cycles?-
dc.typeWorking Paperen
dc.identifier.ppn362201285en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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