Economic Integration and Business Cycle Synchronization in Asia

被引：10
|
作者：
Gong, Chi [1 ]
Kim, Soyoung [2 ]
机构：
[1] Seoul Natl Univ, Core Res Ctr, Asia Ctr, Seoul 151746, South Korea
[2] Seoul Natl Univ, Dept Econ, Seoul 151746, South Korea
来源：
ASIAN ECONOMIC PAPERS | 2013年 / 12卷 / 01期
关键词：
FINANCIAL INTEGRATION; TRADE; REAL;
D O I：
10.1162/ASEP_a_00188
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
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.
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页码：76 / 99
页数：24
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