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Economic Cycles in Emerging and Advanced Countries
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This book contributes to the debate on the decoupling of emerging economies from the advanced economies with a new, empirical investigation approach. Taking counterfactual experiments performed using a time-varying panel VAR model, the authorargues that over the last thirty years,emerging economieshave become less vulnerable to shocks spreading from advanced economies. This resilience to external shocks has changed in a non-progressive manner over time, with phases of greater resilience followed by others of lower resilience and vice versa.Thisresearch outlinesits wave-like path and presents newresults that contribute to the discussion.
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