Business Cycle Synchronization and Regional Integration : A Case Study for Central America

In early January 2003, the United States and Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua launched official negotiations for the Central American Free Trade Agreement (CAFTA), a treaty that would expand NAFTA-style trade barrier reductions to Central America. With deeper trade integra...

Full description

Bibliographic Details
Main Author:	Fiess, Norbert
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNT APPAREL ASYMMETRIC SHOCKS BILATERAL RELATIONSHIPS BUSINESS CYCLE BUSINESS CYCLE FLUCTUATIONS BUSINESS CYCLE SYNCHRONIZATION BUSINESS CYCLES BUSINESS CYCLES SYNCHRONIZATION CENTRAL AMERICA CENTRAL AMERICAN CENTRAL BANK COMPETITIVE ADVANTAGES CURRENCY CURRENCY AREA CURRENCY UNION DEEPER TRADE INTEGRATION ECONOMIC ACTIVITY ECONOMIC INTEGRATION ECONOMIC TIME SERIES EMPIRICAL EVIDENCE EMPIRICAL STUDIES EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPORT GROWTH EXPORT EXPORTS FREE TRADE FREE TRADE AREA IDIOSYNCRATIC SHOCKS IMPACT OF TRADE IMPACT OF TRADE INTEGRATION IMPACT OF TRADE LIBERALIZATION IMPORTS INDUSTRIAL PRODUCTION INDUSTRY TRADE MACROECONOMIC POLICIES MACROECONOMIC SYNCHRONIZATION MEASURE OF TRADE MONETARY COORDINATION MONETARY POLICY MONETARY UNIFICATION PRODUCERS REAL GDP REGIONAL INTEGRATION REGIONAL TRADE REPORTING SPECIALIZATION STRUCTURAL CHANGE TRADE AGREEMENT TRADE BARRIERS TRADE DATA TRADE EXPANSION TRADE FLOWS TRADE INTENSITY TRADE PATTERNS TRADE STRUCTURE TRANSACTION COSTS
Online Access:	http://documents.worldbank.org/curated/en/2005/04/5800513/business-cycle-synchronization-regional-integration-case-study-central-america http://hdl.handle.net/10986/8949

id	okr-10986-8949
recordtype	oai_dc
spelling	okr-10986-89492021-04-23T14:02:42Z Business Cycle Synchronization and Regional Integration : A Case Study for Central America Fiess, Norbert ACCOUNT APPAREL ASYMMETRIC SHOCKS BILATERAL RELATIONSHIPS BUSINESS CYCLE BUSINESS CYCLE FLUCTUATIONS BUSINESS CYCLE SYNCHRONIZATION BUSINESS CYCLES BUSINESS CYCLES SYNCHRONIZATION CENTRAL AMERICA CENTRAL AMERICAN CENTRAL BANK COMPETITIVE ADVANTAGES CURRENCY CURRENCY AREA CURRENCY UNION DEEPER TRADE INTEGRATION ECONOMIC ACTIVITY ECONOMIC INTEGRATION ECONOMIC TIME SERIES EMPIRICAL EVIDENCE EMPIRICAL STUDIES EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPORT GROWTH EXPORT EXPORTS EXPORTS EXPORTS EXPORTS FREE TRADE FREE TRADE AREA IDIOSYNCRATIC SHOCKS IMPACT OF TRADE IMPACT OF TRADE INTEGRATION IMPACT OF TRADE LIBERALIZATION IMPORTS INDUSTRIAL PRODUCTION INDUSTRY TRADE MACROECONOMIC POLICIES MACROECONOMIC SYNCHRONIZATION MEASURE OF TRADE MONETARY COORDINATION MONETARY POLICY MONETARY UNIFICATION PRODUCERS REAL GDP REGIONAL INTEGRATION REGIONAL TRADE REPORTING SPECIALIZATION STRUCTURAL CHANGE TRADE AGREEMENT TRADE BARRIERS TRADE DATA TRADE EXPANSION TRADE FLOWS TRADE INTENSITY TRADE PATTERNS TRADE STRUCTURE TRANSACTION COSTS In early January 2003, the United States and Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua launched official negotiations for the Central American Free Trade Agreement (CAFTA), a treaty that would expand NAFTA-style trade barrier reductions to Central America. With deeper trade integration between Central America and the United States, it is expected that there will be closer links in business cycles between Central American countries and the United States. The paper finds a relatively low degree of business cycle synchronization within Central America as well as between Central America and the United States. The business cycle synchronization is expected to increase only modestly with further trade expansion, making the coordination of macroeconomic policies within CAFTA somewhat less of a priority. 2012-06-25T17:31:36Z 2012-06-25T17:31:36Z 2005-04 http://documents.worldbank.org/curated/en/2005/04/5800513/business-cycle-synchronization-regional-integration-case-study-central-america http://hdl.handle.net/10986/8949 English Policy Research Working Paper; No. 3584 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Latin America & Caribbean Central America
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCOUNT APPAREL ASYMMETRIC SHOCKS BILATERAL RELATIONSHIPS BUSINESS CYCLE BUSINESS CYCLE FLUCTUATIONS BUSINESS CYCLE SYNCHRONIZATION BUSINESS CYCLES BUSINESS CYCLES SYNCHRONIZATION CENTRAL AMERICA CENTRAL AMERICAN CENTRAL BANK COMPETITIVE ADVANTAGES CURRENCY CURRENCY AREA CURRENCY UNION DEEPER TRADE INTEGRATION ECONOMIC ACTIVITY ECONOMIC INTEGRATION ECONOMIC TIME SERIES EMPIRICAL EVIDENCE EMPIRICAL STUDIES EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPORT GROWTH EXPORT EXPORTS EXPORTS EXPORTS EXPORTS FREE TRADE FREE TRADE AREA IDIOSYNCRATIC SHOCKS IMPACT OF TRADE IMPACT OF TRADE INTEGRATION IMPACT OF TRADE LIBERALIZATION IMPORTS INDUSTRIAL PRODUCTION INDUSTRY TRADE MACROECONOMIC POLICIES MACROECONOMIC SYNCHRONIZATION MEASURE OF TRADE MONETARY COORDINATION MONETARY POLICY MONETARY UNIFICATION PRODUCERS REAL GDP REGIONAL INTEGRATION REGIONAL TRADE REPORTING SPECIALIZATION STRUCTURAL CHANGE TRADE AGREEMENT TRADE BARRIERS TRADE DATA TRADE EXPANSION TRADE FLOWS TRADE INTENSITY TRADE PATTERNS TRADE STRUCTURE TRANSACTION COSTS
spellingShingle	ACCOUNT APPAREL ASYMMETRIC SHOCKS BILATERAL RELATIONSHIPS BUSINESS CYCLE BUSINESS CYCLE FLUCTUATIONS BUSINESS CYCLE SYNCHRONIZATION BUSINESS CYCLES BUSINESS CYCLES SYNCHRONIZATION CENTRAL AMERICA CENTRAL AMERICAN CENTRAL BANK COMPETITIVE ADVANTAGES CURRENCY CURRENCY AREA CURRENCY UNION DEEPER TRADE INTEGRATION ECONOMIC ACTIVITY ECONOMIC INTEGRATION ECONOMIC TIME SERIES EMPIRICAL EVIDENCE EMPIRICAL STUDIES EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPORT GROWTH EXPORT EXPORTS EXPORTS EXPORTS EXPORTS FREE TRADE FREE TRADE AREA IDIOSYNCRATIC SHOCKS IMPACT OF TRADE IMPACT OF TRADE INTEGRATION IMPACT OF TRADE LIBERALIZATION IMPORTS INDUSTRIAL PRODUCTION INDUSTRY TRADE MACROECONOMIC POLICIES MACROECONOMIC SYNCHRONIZATION MEASURE OF TRADE MONETARY COORDINATION MONETARY POLICY MONETARY UNIFICATION PRODUCERS REAL GDP REGIONAL INTEGRATION REGIONAL TRADE REPORTING SPECIALIZATION STRUCTURAL CHANGE TRADE AGREEMENT TRADE BARRIERS TRADE DATA TRADE EXPANSION TRADE FLOWS TRADE INTENSITY TRADE PATTERNS TRADE STRUCTURE TRANSACTION COSTS Fiess, Norbert Business Cycle Synchronization and Regional Integration : A Case Study for Central America
geographic_facet	Latin America & Caribbean Central America
relation	Policy Research Working Paper; No. 3584
description	In early January 2003, the United States and Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua launched official negotiations for the Central American Free Trade Agreement (CAFTA), a treaty that would expand NAFTA-style trade barrier reductions to Central America. With deeper trade integration between Central America and the United States, it is expected that there will be closer links in business cycles between Central American countries and the United States. The paper finds a relatively low degree of business cycle synchronization within Central America as well as between Central America and the United States. The business cycle synchronization is expected to increase only modestly with further trade expansion, making the coordination of macroeconomic policies within CAFTA somewhat less of a priority.
format	Publications & Research :: Policy Research Working Paper
author	Fiess, Norbert
author_facet	Fiess, Norbert
author_sort	Fiess, Norbert
title	Business Cycle Synchronization and Regional Integration : A Case Study for Central America
title_short	Business Cycle Synchronization and Regional Integration : A Case Study for Central America
title_full	Business Cycle Synchronization and Regional Integration : A Case Study for Central America
title_fullStr	Business Cycle Synchronization and Regional Integration : A Case Study for Central America
title_full_unstemmed	Business Cycle Synchronization and Regional Integration : A Case Study for Central America
title_sort	business cycle synchronization and regional integration : a case study for central america
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/04/5800513/business-cycle-synchronization-regional-integration-case-study-central-america http://hdl.handle.net/10986/8949
_version_	1764407323221032960

Business Cycle Synchronization and Regional Integration : A Case Study for Central America

Similar Items