Chapter 10 The Decoupling of Asia-Pacific?

James Yetman

A chapter in The Evolving Role of Asia in Global Finance, 2011, pp 235-253 from Emerald Group Publishing Limited

Abstract: Standard measures of business cycle comovement, based on correlation coefficients, are very sensitive to the phase of the business cycle, as well as to regional crises. Adjusting for these factors overturns the empirical result that Asia-Pacific economies are becoming decoupled from the United States over time. An alternative, intuitive, measure of business cycle comovement is proposed, based on the difference between output growth rates adjusted for its long-run average. The new measure suggests that Asia-Pacific economies are becoming more strongly coupled with the United States over time.

Keywords: Decoupling; correlation; comovement (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eme:fegzzz:s1574-8715(2011)0000009015

DOI: 10.1108/S1574-8715(2011)0000009015

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