Transmission of Chinas Shocks to the BRIS Countries

Mustafa Akir and Alain Kabundi ()
Authors registered in the RePEc Author Service: Mustafa Çakır

No 6345, Working Papers from South African Reserve Bank

Abstract: This paper investigates the impact of China on the BRIS countries, namely Brazil, Russia, India and South Africa. We identify Chinese supply and demand shocks and assess their transmission to BRIS in a structural dynamic factor model framework estimated over the period 1995Q2-2009Q4. The findings show that Chinese supply shocks are more important than its demand shocks. Supply shocks produce positive and significant output responses in all BRIS countries. While supply shocks have a permanent impact on the BRIS countries, the effects of demand shocks are short-lived. Both supply and demand shocks are transmitted through trade rather than financial linkages. However, the responses of BRIS countries are heterogeneous and therefore they require different policy responses

Date: 2014-07-22
New Economics Papers: this item is included in nep-cis
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Journal Article: Transmission of China's Shocks to the BRIS Countries (2017)
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