Economic Integration and Business Cycle Synchronization in Asia-Reference-Cited by-同舟云学术

Economic Integration and Business Cycle Synchronization in Asia

Published:2013-01 Issue:1 Volume:12 Page:76-99
ISSN:1535-3516
Container-title:Asian Economic Papers
language:en
Short-container-title:Asian Economic Papers

Author:

Gong Chi¹,Kim Soyoung²

Affiliation:

1. Core Research Center of Asia Center Room 515, Building 220 Seoul National University San 56-1, Sillim-Dong, Gwanak-Gu, Seoul 151-746, Korea

2. Department of Economics Seoul National University San 56-1, Sillim-Dong, Gwanak-Gu, Seoul 151-746, Korea

Abstract

This paper examines the effects of internal (or regional) vs. external (inter-regional) integration and of trade vs. financial integration on regional business cycle synchronization in Asia. The empirical results show the following: (1) similar and strong common external linkages have significant positive effects on regional business cycle synchronization; (2) after controlling for external linkages, internal trade integration has a positive effect on regional business cycle synchronization but internal financial integration has a negative effect; and (3) the measures of external linkages, particularly the measure of external financial linkages, are more important than those of internal linkages in explaining regional business cycle co-movements.

Publisher

MIT Press - Journals

Subject

Political Science and International Relations,Economics and Econometrics,Finance

Link

https://www.mitpressjournals.org/doi/pdf/10.1162/ASEP_a_00188

Reference19 articles.

1. International Real Business Cycles

2. Business Cycles and the Asset Structure of Foreign Trade

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