Trade intensity and business cycle synchronization: East Asia versus Europe

被引：15

作者：

Rana, Pradumna Bickram ^{[1
]}

Cheng, Tianyin ^{[2
]}

Chia, Wai-Mun ^{[2
]}

机构：

[1] Nanyang Technol Univ, Rajaratnam Sch Int Studies, Singapore, Singapore

[2] Nanyang Technol Univ, Sch Humanities & Social Sci, Div Econ, Singapore, Singapore

来源：

JOURNAL OF ASIAN ECONOMICS | 2012年 / 23卷 / 06期

关键词：

Economic integration; Trade intensity; Intra-industry trade; Business cycle synchronization; East Asia;

D O I：

10.1016/j.asieco.2011.11.003

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper provides a comparative analysis of the relationship between trade intensities and synchronization of business cycles in East Asia and Europe (EU-15). It extends the work of Shin and Wang (2004, 2005) by providing a comparative perspective between East Asia and Europe. The paper finds that intra-industry trade, rather than inter-industry trade, is the major factor in explaining business cycle co-movements in both regions. The paper also supports the hypothesis that the relationship between trade intensity and output co-movement is stronger in East Asia than in Europe. The major policy implication of this finding is that East Asia needs to further strengthen macroeconomic policy coordination within the region. (C) 2011 Elsevier Inc. All rights reserved.

引用

页码：701 / 706

页数：6

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