On the Asymmetry of Global Spillovers: Emerging Markets Versus Advanced Economies

Rabah Arezki and Yang Liu

No 8662, Policy Research Working Paper Series from The World Bank

Abstract: This paper examines growth spillovers between emerging markets (EMs) and advanced economies (AEs). The empirical results based on a two-block set-up and covering the period 1991 to 2015 are twofold. First, the paper shows that the size of the spillovers running from EMs to AEs is about a fifth of these running from AEs to EMs. Second, results point to spillovers from EMs to AEs having increased over the second half of the sample period. The paper presents suggestive evidence that the (evolving) structure of interdependencies play an important role in explaining the existence of"asymmetrical spillovers"between these similar sized blocks.

Keywords: International Trade and Trade Rules; Natural Disasters; Macroeconomic Management; Investment and Investment Climate; Energy Demand; Energy and Mining; Energy and Environment (search for similar items in EconPapers)
Date: 2018-12-03
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:8662

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