On the Asymmetry of Global Spillovers : Emerging Markets versus Advanced Economies
This paper examines growth spillovers between emerging markets and advanced economies. The empirical results, based on a two-bloc setup and cover 1991 to 2015, are twofold. First, the paper shows that the size of the spillovers running from emergin...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/378711543854766001/On-the-Asymmetry-of-Global-Spillovers-Emerging-Markets-Versus-Advanced-Economies http://hdl.handle.net/10986/30984 |
| Summary: | This paper examines growth spillovers
between emerging markets and advanced economies. The
empirical results, based on a two-bloc setup and cover 1991
to 2015, are twofold. First, the paper shows that the size
of the spillovers running from emerging markets to advanced
economies is about a fifth of those running from advanced
economies to emerging markets. Second, the results point to
spillovers from emerging markets to advanced economies
having increased over the second half of the sample period.
The paper presents suggestive evidence that the (evolving)
structure of interdependencies plays an important role in
explaining the existence of "asymmetrical
spillovers" between these similar size blocs. |
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