Responses to Trade Shocks in Emerging Economies

Aleksandar Shivarov ()
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Aleksandar Shivarov: University of Economics - Varna

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2016, issue 2, 58-65

Abstract: The paper investigates responses of emerging economies to external shocks originating from the international trade system. Emerging economies are characterised by increasing openness to foreign trade, which offer the promise of fast economic growth but also contain the risk of social disturbance in times of crisis. The effects of terms of trade shocks and shifting demand patterns are explored through an empirical model for the Bulgarian economy and compared to existing research on other emerging economies.

Keywords: trade shocks; terms of trade; emerging economies; Bulgaria; impulse response function (search for similar items in EconPapers)
JEL-codes: A00 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:vra:journl:y:2016:i:2:p:58-65

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