Trade Integration and Business Cycle Synchronization PDF Download

Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Trade Integration and Business Cycle Synchronization PDF full book. Access full book title Trade Integration and Business Cycle Synchronization by Mr.Romain A Duval. Download full books in PDF and EPUB format.

Trade Integration and Business Cycle Synchronization

Trade Integration and Business Cycle Synchronization PDF Author: Mr.Romain A Duval
Publisher: International Monetary Fund
ISBN: 1475523599
Category : Business & Economics
Languages : en
Pages : 46

Get Book Here

Book Description
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.