지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2013.8
- 수록면
- 313 - 341 (29page)
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초록· 키워드
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The recent financial crisis, as the most important event in the world economy, has affected countries substantially through structural changes in socio-economic and political issues. The co-movements of international business cycles have generally increased as a result of the global financial crisis and that is because of simultaneous fall in economic activity in many economies during the global financial crisis. Accordingly, Fidrmuc and Korhonen (2010) analyze the transmission of global financial crisis to business cycles in China and India, displaying a low degree of synchronization with the OECD countries, which is consistent with the decoupling hypothesis. In addition, IMF (2008) argues that the current slowdown of the world economy could have a significantly larger impact on Asian economies than earlier global downturns, because of more extensive trade and financial integration of Asian economies.
The objective of this paper is to evaluate a possible synchronized relationship between recent financial crisis and international business cycles in the selected Asian countries. By using annual data of GDP growth rates during 1980-2010, we test a relationship between recent financial crisis, arising originally from the US, and international business cycles. The paper thus analyzes moving correlations between financial crisis and business cycles in Asia, using dynamic econometric methods. In addition, it studies how the financial crisis has influenced co-movements of output in Asian economies for different frequencies in the framework of the spectral analysis. Overall, analyzing spectrally the determinants of the selected Asian economies’ GDPs (such as Korea, Japan, China, etc.) has indicated a significant synchronized effect of the business cycles and the recent global crisis on such economies.
The objective of this paper is to evaluate a possible synchronized relationship between recent financial crisis and international business cycles in the selected Asian countries. By using annual data of GDP growth rates during 1980-2010, we test a relationship between recent financial crisis, arising originally from the US, and international business cycles. The paper thus analyzes moving correlations between financial crisis and business cycles in Asia, using dynamic econometric methods. In addition, it studies how the financial crisis has influenced co-movements of output in Asian economies for different frequencies in the framework of the spectral analysis. Overall, analyzing spectrally the determinants of the selected Asian economies’ GDPs (such as Korea, Japan, China, etc.) has indicated a significant synchronized effect of the business cycles and the recent global crisis on such economies.
목차
1. INTRODUCTION
2. THE RELATED LITERATURE
3. DATA DESCRIPTION ON THE CASE STUDY
4. MODEL SPECIFICATION AND EMPIRICAL FINDINGS
5. SPECTRAL ANALYSIS
6. CONCLUSION
REFERENCES
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UCI(KEPA) : I410-ECN-0101-2014-300-002821429