China in the World Economy: Dynamic Correlation Analysis of Business Cycles

Jarko Fidrmuc, Iikka Korhonen and Ivana Bátorová

CESifo Economic Studies, 2013, vol. 59, issue 2, 392-411

Abstract: We analyze globalization and business cycles in China and selected OECD countries using dynamic correlation analysis. We show that dynamic correlations of business cycles of OECD countries and China are low at business-cycle frequencies and positive for short-run developments. Furthermore, trade of OECD countries and China lowers the degree of business-cycle synchronization within the OECD area, especially at business-cycle frequencies. Thus, different degrees of participation in globalization can explain the differences between the business cycles of OECD countries. (JEL codes: E32, F15, F41) Copyright The Authors 2012. Published by Oxford University Press on behalf of Ifo Institute, Munich. All rights reserved. For permissions, please email: journals.permissions@oup.com, Oxford University Press.

Date: 2013
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Related works:
Working Paper: China in the World Economy: Dynamic Correlation Analysis of Business Cycles (2011)
Working Paper: China in the World Economy: Dynamic Correlation Analysis of Business Cycles (2008)
Working Paper: China in the world economy: dynamic correlation analysis of business cycles (2008)
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