...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Global Economy Journal >Business Cycle Synchronization and Vertical Trade Integration: A Case Study of the Eurozone and East Asia
【24h】

Business Cycle Synchronization and Vertical Trade Integration: A Case Study of the Eurozone and East Asia

机译：商业周期同步和垂直贸易欧元区和集成:一个案例研究东亚

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Business cycle synchronization is one of the crucial conditions for a currency union to be successful. Frankel and Rose (1998) argued that increased trade after euro adoption would increase business cycle synchronization ex-ante. However, the fallout of the Eurozone forcefully demonstrated that their optimistic prediction did not turn out to be true. One thing Frankel and Rose (1998) did not examine is how different types of trade (inter vs. intra, vertical vs. horizontal, etc.) intensify/dampens business cycle synchronization. In this light, this paper empirically examines how different types of trade affect business cycle synchronization in what way. This study takes two major economic blocs that have been going under rapid economic integrations: The original Eurozone members and East Asia – integration of former mainly developing by European government initiative and the latter naturally forming by the global supply chain and associated product segmentation. Comparing these two very different economic blocs with very different factor endowment structures would give us a more convincing answer to how different types of trade can influence business cycle synchronization differently. Our key finding is that, on the contrary to Frankel and Rose (1998), the impact of increased trade intensity on business cycle co-movement is ambiguous. The impact of trade on business cycle synchronization depends on types of trade. Intra-industry trade, especially vertical intra-industry trade which is rapidly growing in East Asia, has a strong positive effect on business cycle synchronization while inter-industry trade does not.
机译：商业周期同步是其中一个一个货币联盟至关重要的条件成功的。增加贸易后采用欧元增加商业周期同步事前的。然而,欧元区有力的影响证明他们的乐观预测没有被证明是正确的。玫瑰(1998)并没有检验是如何不同的类型的贸易(国际米兰与内部,垂直vs。水平等)加强/抑制了业务周期同步。探讨企业如何不同类型的贸易影响商业周期同步的道路已经在经济快速集成:最初的欧元区成员国东亚——前主要的集成由欧洲政府计划和发展中后者自然形成的全球供应链和相关产品细分。比较这两个截然不同的经济集团有不同的要素禀赋结构会给我们一个更有说服力的答案如何不同类型的贸易可以影响业务周期同步不同。发现是,弗兰克尔,相反玫瑰(1998),增加贸易的影响在商业周期co-movement强度模糊。同步取决于类型的贸易。产业内贸易,特别是垂直产业内贸易迅速增长东亚,有很强的积极的影响商业周期同步,产业间贸易不。

著录项

相似文献

  • 外文文献
  • 中文文献
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号