Business Cycle Synchronization in Asia: The Role of Financial and Trade Linkages
Dai, Yuwen | October 2014
Abstract
In this research project, we attempt to examine the behavior of business cycles in Asia in order to deepen our understanding of and expand research on this topic. Given the importance of the People’s Republic of China, Japan, and the United States in the region economy, we use these three economies as our “reference countries” to study the synchronization of their business cycles with other Asian economies of interest. In particular, we investigate the potential determinants underlying the synchronization of their business cycles, including trade linkages, financial linkages, and policy similarities. From our panel data analysis, we find empirical evidence of the impacts of trade channels, financial channels, and policy channels in determining the degree of their business cycle synchronization.
Citation
Dai, Yuwen. 2014. Business Cycle Synchronization in Asia: The Role of Financial and Trade Linkages. © Asian Development Bank. http://hdl.handle.net/11540/1282. License: CC BY 3.0 IGO.ISSN
2313-5999
2313-6006
Keywords
Trade Finance
Rural Finance
Regional Development Finance
Public Financial Management
Public Finance
International Finance
Intergovernmental Finance
Financial System
Financial Flows
Financial Assets
Finance And Trade
Trade Finance
Local Finance
International Monetary Relations
Local Finance
Banks
Capital Market
financial statistics
Foreign trade
Municipal government
Metropolitan government
International banks and banking
Capital movements
Central banks and banking
Bills of exchange
Swaps
Banks and banking
Stock exchanges
Market
Exchange
Balance of trade
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