Economic Integration and Business Cycle Synchronization in Asia

2013 ◽  
Vol 12 (1) ◽  
pp. 76-99 ◽  
Author(s):  
Chi Gong ◽  
Soyoung Kim
Keyword(s):  
Business Cycle ◽  
Economic Integration ◽  
Regional Integration ◽  
Financial Integration ◽  
Trade Integration ◽  
Business Cycle Synchronization ◽  
Empirical Results ◽  
Positive Effects ◽  
Negative Effect ◽  
Positive Effect

This paper examines the effects of internal (or regional) vs. external (inter-regional) integration and of trade vs. financial integration on regional business cycle synchronization in Asia. The empirical results show the following: (1) similar and strong common external linkages have significant positive effects on regional business cycle synchronization; (2) after controlling for external linkages, internal trade integration has a positive effect on regional business cycle synchronization but internal financial integration has a negative effect; and (3) the measures of external linkages, particularly the measure of external financial linkages, are more important than those of internal linkages in explaining regional business cycle co-movements.

Economic Integration and Changes in the Business Cycle in East Asia: Is the Region Decoupling from the Rest of the World?

2009 ◽  
Vol 8 (1) ◽  
pp. 107-140 ◽  
Author(s):  
Yung Chul Park ◽  
Kwanho Shin
Keyword(s):  
United States ◽  
Business Cycle ◽  
East Asia ◽  
Regional Integration ◽  
Financial Integration ◽  
The United States ◽  
Trade Integration ◽  
Global Integration ◽  
Trade Relations ◽  
The Business Cycle

Countries in East Asia (EA) have made a great deal of progress in integrating their economies since the early 1990s. There has been a sustained increase in intra-regional trade in EA. On finance, however, regional financial integration has been lagging behind trade integration and EA has reached out to global financial markets to effect deeper global integration. The purpose of this paper is to analyze the effects of intra-regional and extra-regional financial integration on changes in the pattern of EA's business cycle since 1990 to see whether there is any ground for “decoupling” of EA from the United States and the EU. On trade relations, the empirical results show that deepening trade integration contributes to more synchronized output movements among EA countries. There is also evidence that financial integration enhances more synchronization of output, but because its impact is not strong, the extra-regional integration does not necessarily dispute the prediction that EA's output movement has become more idiosyncratic than before, and therefore less closely tied with that of the United States.

scholarly journals The Financial Driver of Business Cycle Synchronization

2020 ◽  
pp. 1-17
Author(s):  
Tiago TRANCOSO ◽  
Sofia GOMES
Keyword(s):  
Business Cycle ◽  
Indirect Effects ◽  
Financial Integration ◽  
Structural Similarity ◽  
Trade Integration ◽  
Business Cycle Synchronization ◽  
Factorial Approach ◽  
The Impact

This paper measures the impact of financial integration on business cycle synchronization (BCS) using a multivariate factorial approach. By allowing bilateral financial integration to load both on de facto quantity and price measures, positive and strong indirect effects of financial integration are found on BCS, running through real channels such as trade integration and structural similarity.

scholarly journals The influence of leader’s communication style on the followers’ organizational commitment

2011 ◽  
Vol 24 (4) ◽  
pp. 739-758
Author(s):  
ChunHee Lee ◽  
HyoungKoo Moon ◽  
KyungMin Kim
Keyword(s):  
Organizational Commitment ◽  
Communication Style ◽  
Empirical Results ◽  
Positive Effects ◽  
Trust Level ◽  
Moderating Factors ◽  
Negative Effect ◽  
Survey Results ◽  
The Relationship ◽  
Positive Effect

The purpose of this study is to identify the relationship between leader’s communication style and the members’ organizational commitment focusing on the mediating and moderating factors. Specifically, we considered trust as the mediator of the relationship between communication style and organizational commitment. Also, the perception of leader’s ability was considered as the moderator of the relationship between communication style and trust of the leader. Survey results on the 350 officers in the Korean Army show that the leader’s communication style was significantly influencing on the organizational commitment of the men under his(her) command. Specifically, sociable communication style had positive effects on the level of organizational commitment, whereas dominant style influenced negatively. Also, the relationship between leader’s communication style and organizational commitment has been partially mediated by trust of the leader. Finally, the perception of leader’s ability has moderated the relationship between leader’s communication style and trust of the leader, such that the negative effect of dominant communication style on the trust level has been strengthened when their leader's ability is low than high. Comparably, the positive effect of sociable communication style on the trust level has been strengthened when the perception of leader’s ability is high than low. The implications and limitations of those empirical results was discussed.

scholarly journals LA INSERCIÓN COMERCIAL DE CHINA EN LATINOAMÉRICA

2019 ◽  
Vol 78 (310) ◽  
pp. 137
Author(s):  
Jorge Alberto López Arévalo ◽  
Óscar Rodil Marzábal
Keyword(s):  
Costa Rica ◽  
Free Trade ◽  
Fixed Effects ◽  
Bilateral Trade ◽  
Free Trade Agreements ◽  
Trade Agreements ◽  
Trade Integration ◽  
Negative Effect ◽  
The Difference ◽  
Positive Effect

<p>Este trabajo estudia los intercambios bilaterales de China con México, Chile, Costa Rica y Perú desde la óptica del comercio intraindustrial durante 1995-2017. En particular, se analizan las diferencias en el patrón de inserción intraindustrial en un contexto marcado por la existencia (Chile, Costa Rica y Perú) o no (México) de acuerdos de libre comercio con China. El estudio se completa con un análisis econométrico (efectos fijos) de los determinantes del comercio intraindustrial. Los resultados muestran una inserción de bajo perfil intraindustrial, con la excepción de algunas partidas específicas relativas a productos eléctricos y de la industria automotriz. Por otro lado, se confirma el efecto positivo del tamaño de la economía, de la inversión extranjera directa y de la diferenciación de producto, así como negativo de la diferencia en el nivel de ingreso; mientras que existe una indefinición en el papel de los acuerdos de libre comercio con China.<br /><br /></p><p>THE TRADE INTEGRATION OF CHINA IN LATIN AMERICA</p><p> </p><p><strong>ABSTRACT</strong><br />This paper studies China’s bilateral trade with Mexico, Chile, Costa Rica and Peru from the perspective of intra-industrial trade during 1995-2017. In particular, the differences in the pattern of intra-industrial insertion are analyzed in a context characterized by the existence (Chile, Costa Rica and Peru) or not (Mexico) of free trade agreements with China. An econometric analysis (fixed effects) of the determinants of intra-industrial trade completes the study. The results show a low intra-industrial profile, except for some specific items related to electrical products and the automotive industry. The positive effect of the size of the economy, foreign direct investment and product differentiation is also confirmed, as well as the negative effect of the difference in income level. However, there is an undefined role for free trade agreements with China.</p>

scholarly journals Analysis of Global Economic and Political Factors and Challenges of the Eurasian Economic Integration

2020 ◽  
Vol 14 (3) ◽  
pp. 34-43 ◽  
Author(s):  
V. A. Zubenko ◽  
A. M. Masalimova
Keyword(s):  
Economic Integration ◽  
Regional Integration ◽  
Developed Countries ◽  
Customs Union ◽  
Member States ◽  
Economic Relations ◽  
Trade Relations ◽  
Positive Effects ◽  
Integration Effect ◽  
Economic Ties

The development of the EAEU takes place in the context of the formation of a new system of world economic relations and the transformation of the rules of world trade. Further areas of multilateral cooperation between states and regional integration associations are emerging (including the digital economy, cryptocurrencies). As a consequence of the aggressive foreign policy of economically developed countries, the regionalization of trade and economic ties is gaining popularity, which makes it urgent to reformat trade relations with regional integration associations. Along with this, the primary integration effect associated with the opening of national markets and the simplification of trade rules, which manifested itself at the first stages of the formation of the customs union and the single economic space (CES), is being exhausted. The volumes of mutual trade of the member states are changing, but its share in the capacity of the common market of the EAEU remains virtually unchanged from year to year. The further growth of trade and economic ties within the EAEU is mainly due to the removal of existing obstacles and the qualitative improvement of the conditions for doing cross-border business. Various negative phenomena distort the integration agenda and substantially neutralize the positive effects of integration. The reasons noted above make the task of a comprehensive study of the economic and geopolitical factors of the integration of member states and new challenges to the integration processes urgent. To develop approaches to strategic planning for the development of the EAEU, adequate assessments of the use of the integration potential of the member states should be made and areas with the most significant reserves for building up integration cooperation should be identified. The full involvement of Armenia and Kyrgyzstan in the orbit of the Eurasian economic integration, as well as severe changes in the external economic situation that have occurred in recent years, require the actualization of possible scenarios for the development of the Eurasian Economic Union and the development of new tactics for the response of the EAEU and the Union member states to newly emerging factors and challenges affecting on integration processes.

scholarly journals THE FACTORS INFLUENCING ECONOMIC GROWTH IN INDONESIA

2020 ◽  
Vol 8 (1) ◽  
Author(s):  
Dian Citra Amelia
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
International Trade ◽  
Direct Investment ◽  
Government Expenditure ◽  
Negative Influence ◽  
Positive Effects ◽  
Negative Effect ◽  
The Government ◽  
Positive Effect

This research is based on the fact that the state of economic growth in Indonesia tends to fluctuate, even more often decrease. This is because the government policy is not appropriate to improve the economic growth of Indonesia. This study aims to determine and analyze the factors of foreign direct investment, inflation, international trade, and government expenditure that affect economic growth in Indonesia. The problem in this research is due to the limited fund in economic development both structure and infrastructure so that economic growth tends to decrease. Therefore, appropriate strategies must be taken to overcome the limitations in promoting economic growth. From this problem, this research aims to see how big influence of foreign direct investment (FDI), inflation (INF), international trade (NX) and government expenditure (GE) variable to economic growth. The data used in this study is secondary data (periodical data) in the period of observation 1996-2014 obtained from the World Bank and Statistics of Indonesia. To identify the influence of the variables used in this study used the VAR (Vector Autoregression) method. The results of this study show that equation regression shows that FDI (-1) has a negative influence on economic growth and FDI (-2) has a positive effect on economic growth, INF (-1) and INF (-2) have positive effects on economic growth , Variable NX (-1) has a positive effect on economic growth but NX (-2) has a negative effect on economic growth, and GE variable (-1) has a positive effect on economic growth while GE (-2) has a negative effect on growth Economy.

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