Trade intensity and business cycle synchronization:: Are developing countries any different?

被引:175
作者
Calderon, Cesar
Chong, Alberto
Stein, Ernesto
机构
[1] World Bank, Washington, DC 20433 USA
[2] Interamer Dev Bank, Washington, DC 20577 USA
关键词
bilateral trade; cycle synchronization; LDCs; intra-industry trade; integration;
D O I
10.1016/j.jinteco.2006.06.001
中图分类号
F [经济];
学科分类号
02 ;
摘要
Trade intensity increases the business cycle co-movement among industrial countries. Using annual information for 147 countries for the period 1960-99 we find that the impact of trade intensity on business cycle correlation among developing countries is positive and significant, but substantially smaller than that among industrial countries. Our findings suggest that differences in the responsiveness of cycle synchronization to trade integration between industrial and developing countries are explained by differences in the patterns of specialization and bilateral trade. (c) 2006 Elsevier B.V. All rights reserved.
引用
收藏
页码:2 / 21
页数:20
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