Dancing in Unison ? Economists lack evidence of increasing synchronization of the world's economies

Robin Brooks, Kristin Forbes, Jean Imbs and Ashoka Mody
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Robin Brooks: IMF's Research Department - Fonds monétaire international

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Abstract: Globalization is increasing the links between the world's economies, particularly through capital markets and trade flows. Does the growing importance of these links mean that international policy coordination is now a necessity for effective policymaking? How sensible is it, in an increasingly global economy, to make policy decisions largely at the national level? These questions came to the fore when, after a decade of economic expansion, growth slowed simultaneously in early 2000 in the advanced economies known as the Group of Seven (G-7)--Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

Keywords: Financial Integration; International Business Cycles; Risk Sharing (search for similar items in EconPapers)
Date: 2003-06
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Published in Finance and Development, 2003, 40 (2), pp.46-49

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00612660

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