This study explores the changing direction and degree of financial integration of the emerging economies, People’s Republic of China (PRC) and India, with ASEAN-5 and compares it to the developed economies, the US and Japan, in a time-varying framework. The concordance and rolling...

In a previous work (Fariña and Rojo (2003) the authors proposed a new concept for the business cycle, the ‘Climate Cycle’, a hidden and a latent sign behind a very extensive package of socio-economic and economic indicators, arising from the co-movements among their cyclical patterns. In...