aThis book contributes to the debate on the decoupling of emerging economies from the advanced economies with a new, empirical investigation approach. Taking counterfactual experiments performed using a time-varying panel VAR model, the author argues that over the last thirty years, emerging economies have become less vulnerable to shocks spreading from advanced economies. This resilience to external shocks has changed in a non-progressive manner over time, with phases of greater resilience followed by others of lower resilience and vice versa. This research outlines its wave-like path and presents new results that contribute to the discussion.Synchronization, International Spillovers and the Decoupling Hypothesis Antonio Pesce ... Am Econ Rev 93(1):1216a1239 Kose AM, Prasad ES, Terrones ME ( 2003b) How does globalization affect the synchronization of business cycles?
|Title||:||Economic Cycles in Emerging and Advanced Countries|
|Publisher||:||Springer - 2015-04-20|