, trade, FDI, dynamic correlation
JEL classification: E32, F15, J50
The World Institute for Development Economics … Development Economics Research (UNU-WIDER)
Katajanokanlaituri 6 B, 00160 Helsinki, Finland
Typescript prepared by the authors …). ‘International business cycles and the
ERM: Is there a European business cycle?’, International Journal of Finance
and Economics, 2 …