Inflation co-movement in emerging and developing Asia: the monsoon effect

Patrick Blagrave

Applied Economics Letters, 2020, vol. 27, issue 15, 1277-1283

Abstract: Co-movement (synchronicity) in food-inflation rates among emerging and developing countries in Asia is partly due to common rainfall shocks – a result which the paper terms the ‘monsoon effect’. Economies with higher trade integration and co-movement in nominal effective exchange rates also experience greater food-inflation co-movement. In the context of the growing literature on the globalization of inflation, these results suggest that common weather patterns are partly responsible for any role played by a so-called ‘global factor’ among inflation rates in emerging and developing economies, in Asia at least.

Date: 2020
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Working Paper: Inflation Co-Movement in Emerging and Developing Asia: The Monsoon Effect (2019)
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DOI: 10.1080/13504851.2019.1676869

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