Kim, Henry; Kim, Soyoung; Wang, Yunjong - Department of Economics, Tufts University - 2005
This paper documents evidence of business cycle synchronization in selected Asia Pacific countries in the 1990s. We … explain business cycle synchronization by the channel of international capital flows. Using the VAR method, we find that most … conclusion that capital market liberalization has contributed to business cycle synchronization in Asia. We also find that …