Reisen, Helmut (contributor); Grandes, Martín (contributor) - 2005
the
macroeconomic effects of business cycles in both OECD and non‐OECD areas. Faced with low
returns, pension …‐regional trade, and greater diversification of the exports of the “South” explain why the
traditional trade‐based business cycle linkages between the “North” and the “South” have
changed (Hoffmaister … Countries and All Developing Countries significant
and higher than 0.5. He also finds that for the group of the Asian NICs the respective correlation
is close to 1. This suggests the importance of trade links for the propagation of business …