The S-Curve in Emerging Markets

The cross-correlation function between terms of trade and trade balance has been found to resemble a pattern that is labelled the S-curve. Support for this pattern has been provided for developed and less developed countries by previous research. This paper investigates the S-curve for 10 emerging economies and provides further support for the S-curve using monthly trade data since these countries initiated market reforms. Comparative Economic Studies (2008) 50, 341–351. doi:10.1057/palgrave.ces.8100236