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English Abstract: Most previous studies on business cycles in emerging markets have focused on elucidating the differences between advanced and emerging countries. However, the present study investigates the differences in two groups of emerging countries, namely, those in Asia and Latin...
Persistent link: https://www.econbiz.de/10012607054
sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth … volatility. Expanding the sample to 121 developing countries confirms this result, although this role of shock-absorber fades … away as economies grow richer. Stock market development, by contrast, appears neither to be a shock-absorber nor a shock …
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In 2007, Hausmann, Hwang and Rodrik (HHR) demonstrated that export specialization patterns have important implications for economic growth. The authors developed an indicator of income level linked to the country’s exports they called EXPY and showed that higher values of the indicator lead to...
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emerging BRICS nations than on developed economies. The impact of the PRC’s GDP growth shock on the rest of emerging Asia is …
Persistent link: https://www.econbiz.de/10011757623
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This paper investigates the role of “absorptive capacity” to manage unexpected shocks to their real economy, with a focus on small, open, natural resource-dependent economies. A quarterly panel data series for 45 countries is constructed, including 23 developing Asian countries for empirical...
Persistent link: https://www.econbiz.de/10011579034