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

Jarko Fidrmuc, Iikka Korhonen and Bátorová Ivana

No 2011-9, CEI Working Paper Series from Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University

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 negative at business-cycle frequencies and positive for short-run developments. Furthermore, trade and financial flows of OECD countries and China reduce 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.

Keywords: Globalization; business cycles; synchronization; trade; FDI; dynamic correlation (search for similar items in EconPapers)
JEL-codes: E32 F15 F41 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2011-12
New Economics Papers: this item is included in nep-bec, nep-mac and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/28508/wp2011-9.pdf

Related works:
Journal Article: China in the World Economy: Dynamic Correlation Analysis of Business Cycles (2013)
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)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hit:hitcei:2011-9

Access Statistics for this paper

More papers in CEI Working Paper Series from Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University Contact information at EDIRC.
Bibliographic data for series maintained by Reiko Suzuki ( this e-mail address is bad, please contact ).