Title How does globalization affect the synchronization of business cycles? / M. Ayhan Kose, Eswar S. Prasad, and Marco E. Terrones

Published [Washington, D.C.] : International Monetary Fund, ©2003

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Description 1 online resource (13 pages) Series IMF working paper, 2227-8885 ; WP/03/27 IMF working paper ; WP/03/27. Summary 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 stronger for 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 Bibliography Includes bibliographical references (page 13) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL English digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Business cycles International economic integration Globalization. Industrial productivity. Consumption (Economics) Labor productivity. Performance technology. globalism. Performance technology Labor productivity Business cycles Consumption (Economics) Globalization Industrial productivity International economic integration Form Electronic book Author Prasad, Eswar S., 1965- author Terrones, Marco, author International Monetary Fund. Western Hemisphere Department. International Monetary Fund. Asia and Pacific Department. International Monetary Fund. Research Department. ISBN 1451892233 9781451892239 128109272X 9781281092724 9781451844542 1451844549 1462373275 9781462373277 1452729107 9781452729107 9786613775771 6613775770

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