Macroeconomic integration in Asia Pacific: Common stochastic trends and business cycle coherence

Enzo Weber

No 2006-039, SFB 649 Discussion Papers from Humboldt University Berlin, Collaborative Research Center 649: Economic Risk

Abstract: This paper addresses the question of macroeconomic integration in the Asian Pacific region. Economically, the analysis is based on the notions of stochastic long-run convergence and business cycle coherence. The econometric procedure consists of tests for cointegration, the examination of vector error correction models, several variants of common cycle tests and forecast error variance decompositions. Results in favour of cyclical synchrony can be partly established, and are even exceeded by the broad evidence for equilibrium relations. In these domains, several leading countries are identified.

Keywords: Real Convergence; Cointegration; Common Cycles; Asia Pacific (search for similar items in EconPapers)
JEL-codes: C32 E32 F15 (search for similar items in EconPapers)
Date: 2006
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Journal Article: Macroeconomic Integration in Asia-Pacific: Common Stochastic Trends and Business Cycle Coherence (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:sfb649:sfb649dp2006-039

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