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International trade and the transmission of shocks: the case of ASEAN-4 and NIE-4 economies

Citation

Dungey, M and Khan, F and Raghavan, M, International trade and the transmission of shocks: the case of ASEAN-4 and NIE-4 economies, Economic Modelling, 72 pp. 109-121. ISSN 0264-9993 (2018) [Refereed Article]

Copyright Statement

Copyright 2018 Elsevier B.V.

DOI: doi:10.1016/j.econmod.2018.01.008

Abstract

We investigate the effects of the increasing importance of ASEAN-4 and NIE-4 economies in global trade for the transmission of shocks using a structural VAR framework. We specifically account for time variation, using the changing trade links to provide a means of identifying the propagation of economic shocks and spillovers across the US, EU and Asia Pacific economies from 1978 to 2015. The results include evidence of China’s emergence as a major driver of growth in Asian markets. The identification mechanism highlights the relative importance of changing trade relationships versus changing shocks in propagating shocks between global markets, and shows that the international transmission mechanisms have changed substantially over the sample period.

Item Details

Item Type:Refereed Article
Keywords:SVAR models, ASEAN, NIE, trade links
Research Division:Economics
Research Group:Applied Economics
Research Field:International Economics and International Finance
Objective Division:Economic Framework
Objective Group:Macroeconomics
Objective Field:Macroeconomics not elsewhere classified
UTAS Author:Dungey, M (Professor Mardi Dungey)
UTAS Author:Khan, F (Mr Faisal Khan)
UTAS Author:Raghavan, M (Dr Mala Raghavan)
ID Code:125211
Year Published:2018
Web of Science® Times Cited:3
Deposited By:Economics and Finance
Deposited On:2018-04-06
Last Modified:2018-12-10
Downloads:0

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