Trade Finance Specialization And Synchronization

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Trade Finance Specialization And Synchronization

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Author : Mr.Jean Imbs
language : en
Publisher: International Monetary Fund
Release Date : 2003-04-01

Trade Finance Specialization And Synchronization written by Mr.Jean Imbs and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-04-01 with Business & Economics categories.

The paper investigates the determinants of business cycles synchronization across regions. It uses both international and intranational data to evaluate the linkages between trade in goods, trade in financial assets, specialization and business cycles synchronization using a system of simultaneous equations. The results are as follows: (i) Simultaneity is important, as both trade and financial openness have a direct and an indirect effect on cycle synchronization. (ii) A variety of alternative measures of financial integration suggest that regions with strong financial links are significantly more synchronized, though they are also more specialized. (iii) Specialization patterns have a sizable effect on business cycles, beyond their reflection of intra-industry trade, and of openness to goods and assets trade. (iv) The estimated role of trade is in line with existing models once intra-industry trade is controlled for. The results relate to a recent strand of international business cycle models with incomplete markets and transport costs, and, on the empirical side, point to an important omission in the usual criteria defining an optimal currency area, namely specialization patterns.

Trade Finance Specialization And Synchronization

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Author : Jean M. Imbs
language : en
Publisher:
Release Date : 2006

Trade Finance Specialization And Synchronization written by Jean M. Imbs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

The paper investigates the determinants of business cycles synchronization across regions. It uses both international and intranational data to evaluate the linkages between trade in goods, trade in financial assets, specialization and business cycles synchronization using a system of simultaneous equations. The results are as follows: (i) Simultaneity is important, as both trade and financial openness have a direct and an indirect effect on cycle synchronization. (ii) A variety of alternative measures of financial integration suggest that regions with strong financial links are significantly more synchronized, though they are also more specialized. (iii) Specialization patterns have a sizable effect on business cycles, beyond their reflection of intra-industry trade, and of openness to goods and assets trade. (iv) The estimated role of trade is in line with existing models once intra-industry trade is controlled for. The results relate to a recent strand of international business cycle models with incomplete markets and transport costs, and, on the empirical side, point to an important omission in the usual criteria defining an optimal currency area, namely specialization patterns.

Trade Integration And Business Cycle Synchronization

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Author : Mr.Romain A Duval
language : en
Publisher: International Monetary Fund
Release Date : 2014-04-03

Trade Integration And Business Cycle Synchronization written by Mr.Romain A Duval and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-03 with Business & Economics categories.

This paper reexamines the relationship between trade integration and business cycle synchronization (BCS) using new value-added trade data for 63 advanced and emerging economies during 1995–2012. In a panel framework, we identify a strong positive impact of trade intensity on BCS—conditional on various controls, global common shocks and country-pair heterogeneity—that is absent when gross trade data are used. That effect is bigger in crisis times, pointing to trade as an important crisis propagation mechanism. Bilateral intra-industry trade and trade specialization correlation also appear to increase co-movement, indicating that not only the intensity but also the type of trade matters. Finally, we show that dependence on Chinese final demand in value-added terms amplifies the international spillovers and synchronizing impact of growth shocks in China.

Has Globalization Really Increased Business Cycle Synchronization

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Author : Eric Monnet
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-08

Has Globalization Really Increased Business Cycle Synchronization written by Eric Monnet and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-08 with Business & Economics categories.

This paper assesses the strength of business cycle synchronization between 1950 and 2014 in a sample of 21 countries using a new quarterly dataset based on IMF archival data. Contrary to the common wisdom, we find that the globalization period is not associated with more output synchronization at the global level. The world business cycle was as strong during Bretton Woods (1950-1971) than during the Globalization period (1984-2006). Although globalization did not affect the average level of co-movement, trade and financial integration strongly affect the way countries co-move with the rest of the world. We find that financial integration de-synchronizes national outputs from the world cycle, although the magnitude of this effect depends crucially on the type of shocks hitting the world economy. This de-synchronizing effect has offset the synchronizing impact of other forces, such as increased trade integration.

The Fundamentals Of Trade Finance 3rd Edition

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Author : Joseph F. Greco, Ph.D
language : en
Publisher: Bublish, Inc.
Release Date : 2020-12-30

The Fundamentals Of Trade Finance 3rd Edition written by Joseph F. Greco, Ph.D and has been published by Bublish, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-30 with Business & Economics categories.

With the existence of the World Trade Organization, North American Free Trade Agreement and the European Union, trade continues to play a crucial role in an ever-globalizing economy. Technology and economic integration will only continue to foster the growth of trade. Exporting and importing used to be limited to large corporations, but now even small businesses can explore opportunities in international markets. Methods of organizing, financing and managing risk in trade are explored in the pages of this text. The authors also examine critical topics such as logistics and insurance, international commercial banking, and exchange rates. This book takes a practical approach, making it a worthwhile read to experienced traders and learners alike. Gain a competitive advantage and navigate business challenges with the lessons in The Fundamentals of Trade Finance.

Economic And Policy Developments In East Asia

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Author : Noel Gaston
language : en
Publisher: Routledge
Release Date : 2016-01-22

Economic And Policy Developments In East Asia written by Noel Gaston and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-22 with Business & Economics categories.

In this collection, academics and policy-makers from Australia, Japan, New Zealand and Singapore present research results on a variety of topics based around three key themes: macroeconomics and trade, labour and social issues, and taxes and government spending. The chapters are empirically-oriented and include both cross-country studies and individual country studies. They include examinations of key topics, such as the problem of corruption, the relationship between trade liberalisation and growth and the impact of migration on the Asian welfare state, as well as studies of Chinese manufacturing exports and the income volatility of Indonesian banks. The scholarship containing in this collection is a crucial resource to researchers and commentators on the economies in our Asia-Pacific region. This book was originally published as a special issue of the Journal of the Asia Pacific Economy.

Optimal Currency Areas And The Euro Volume I

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Author : Johannes Kabderian Dreyer
language : en
Publisher: Springer Nature
Release Date : 2020-06-12

Optimal Currency Areas And The Euro Volume I written by Johannes Kabderian Dreyer and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-12 with Business & Economics categories.

This book analyses business cycles synchronization in the Euro Area (EA), one of the 3 criteria that define Optimal Currency Areas (OCAs). Even before its launch, economists questioned whether the EA has what it takes to become an OCA. The onset of the sovereign debt crisis in 2010 confirmed the challenges relating to its construction. But did the EA change over time, and what key drivers may be necessary in the future to strengthen the common currency?

Business Cycle Synchronisation And Economic Integration

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Author : Marcus Kappler
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-07-30

Business Cycle Synchronisation And Economic Integration written by Marcus Kappler and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-30 with Business & Economics categories.

This book offers the reader a state-of-the-art overview on theory and empirics of business cycle synchronisation, structural reform and economic integration. Focusing on the ongoing integration process in the euro area and the EU, it analyses the integration process that has taken place since the 1980s and which is marked by the advent of the euro and the substantial enlargement that resulted from the accession of 12 new Member States in East and Southern Europe.

The Indonesian Economy

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Author : Aris Ananta
language : en
Publisher: Institute of Southeast Asian Studies
Release Date : 2011

The Indonesian Economy written by Aris Ananta and has been published by Institute of Southeast Asian Studies this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.

"Indonesia is one of the few countries that came through the global economic crisis in 2008-09 with positive economic growth. Despite some recorded positive domestic economic performances, Indonesia faces new challenges as its economy keeps growing and the global economy remains uncertain. A new economic development paradigm is needed to overcome old problems (poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions) with global market opportunities. This book provides a new perspective on how Indonesian’s economic policies should be developed by considering its past and future challenges." - Firmanzah, Professor of Economics and Dean of Faculty of Economics, University of Indonesia "Aris Ananta, Muljana Soekarni and Sjamsul Arifin gather excellent researchers and practitioners to discuss important economic policy issues for Indonesia today. They discuss monetary and fiscal policies and real economic sector issues based not only on theoretical analysis but also on their day-to-day experience in economic management. By reviewing Indonesia's economic policy reform and subsequent Asian financial crisis and sub-prime loan crisis, the authors present a new economic development paradigm and explore economic strategy and policies for the new era. The book offers many timely lessons from history, as well as the real policy experiences of the authors, and guides readers in exploring economic policies under the globalized world economy. This book is very useful for both practitioners and researchers." - Masaaki Komatsu, Professor of Economics, Hiroshima University

Catching The Flu From The United States

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Author : Filippo di Mauro
language : en
Publisher: Springer
Release Date : 2010-07-14

Catching The Flu From The United States written by Filippo di Mauro and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-14 with Business & Economics categories.

Looking at historical cross-country interactions, this book examines the role of the US in the world economy. Illustrating that US shocks tend to have a global nature and that Monetary Union only partially shelters the Euro area from its external environment, the US should fully assume its responsibility, minimizing shock transmission.