Measuring co-movement of globalization and democratization in the time–frequency space
AbstractIn the fields of political science and economics there has been a recent surge of interest in the co-movement of globalization and democratization. Wavelet coherency analysis was first used to measure the co-movement of globalization and democratization in time and frequency domains. We collected our data from the period 1948-2010. The results were as follows: (1) Co-movement is weaker for fluctuations with a duration of less than 3 years during the period from 1950-1990, with the exception of significantly positive co-movement with a duration of greater than 4 years during 1965-1975; and (2) positive long-term, mid-term, and short-term co-movement was indicated after 1990, among which positive short-term to short mid-term co-movement was the most significant. These results suggest that the Cold War influenced the interaction between democratization and globalization.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 34 (2014)
Issue (Month): 1 ()
Contact details of provider:
Globalization; Democracy; Co-movement; Wavelet Coherency Analysis;
Find related papers by JEL classification:
- F5 - International Economics - - International Relations, National Security, and International Political Economy
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- O'Rourke, Kevin H & Taylor, Alan M, 2006.
"Democracy and Protectionism,"
CEPR Discussion Papers
5698, C.E.P.R. Discussion Papers.
- Kevin O'Rourke, 2007. "Democracy and Protectionism," The Institute for International Integration Studies Discussion Paper Series iiisdp191, IIIS.
- Kevin H. O'Rourke & Alan M. Taylor, 2006. "Democracy and Protectionism," NBER Working Papers 12250, National Bureau of Economic Research, Inc.
- Rua, António, 2010.
"Measuring comovement in the time-frequency space,"
Journal of Macroeconomics,
Elsevier, vol. 32(2), pages 685-691, June.
- Dailami, Monsoor, 2000. "Financial openness, democracy, and redistributive policy," Policy Research Working Paper Series 2372, The World Bank.
- Robert J. Barro, 1999.
"Determinants of Democracy,"
Journal of Political Economy,
University of Chicago Press, vol. 107(S6), pages S158-S183, December.
- Christophe Croux & Mario Forni & Lucrezia Reichlin, 2001.
"A Measure Of Comovement For Economic Variables: Theory And Empirics,"
The Review of Economics and Statistics,
MIT Press, vol. 83(2), pages 232-241, May.
- Croux, Christophe & Forni, Mario & Reichlin, Lucrezia, 1999. "A Measure of Comovement for Economic Variables: Theory and Empirics," CEPR Discussion Papers 2339, C.E.P.R. Discussion Papers.
- Christophe Croux & Mario Forni & Lucrezia Reichlin, 2001. "A measure of co-movement for economic variables: theory and empirics," ULB Institutional Repository 2013/10139, ULB -- Universite Libre de Bruxelles.
- Axel Dreher, 2005.
"Does Globalization Affect Growth? Evidence from a new Index of Globalization,"
TWI Research Paper Series
6, Thurgauer Wirtschaftsinstitut, Universität Konstanz.
- Axel Dreher, 2006. "Does globalization affect growth? Evidence from a new index of globalization," Applied Economics, Taylor & Francis Journals, vol. 38(10), pages 1091-1110.
- Yu, Miaojie, 2010. "Trade, democracy, and the gravity equation," Journal of Development Economics, Elsevier, vol. 91(2), pages 289-300, March.
- Andrew K. Rose, 2004.
"Do We Really Know That the WTO Increases Trade?,"
American Economic Review,
American Economic Association, vol. 94(1), pages 98-114, March.
- Andrew K. Rose, 2002. "Do We Really KNow that the WTO Increases Trade?," Working Papers 182002, Hong Kong Institute for Monetary Research.
- Andrew K. Rose, 2002. "Do We Really Know that the WTO Increases Trade?," NBER Working Papers 9273, National Bureau of Economic Research, Inc.
- Rose, Andrew K, 2002. "Do We Really Know that the WTO Increases Trade?," CEPR Discussion Papers 3538, C.E.P.R. Discussion Papers.
- Rua, António & Nunes, Luís C., 2009.
"International comovement of stock market returns: A wavelet analysis,"
Journal of Empirical Finance,
Elsevier, vol. 16(4), pages 632-639, September.
- António Rua & Luís Catela Nunes, 2009. "International comovement of stock market returns: a wavelet analysis," Working Papers w200904, Banco de Portugal, Economics and Research Department.
- Aguiar-Conraria, Luís & Azevedo, Nuno & Soares, Maria Joana, 2008. "Using wavelets to decompose the time–frequency effects of monetary policy," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(12), pages 2863-2878.
- Lim, Jamus Jerome & Decker, Jessica Henson, 2007.
"Democracy and Trade: An Empirical Study,"
6077, University Library of Munich, Germany.
- Patrick M. Crowley, 2007. "A Guide To Wavelets For Economists ," Journal of Economic Surveys, Wiley Blackwell, vol. 21(2), pages 207-267, 04.
- David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
- Barro, Robert J, 1996. " Democracy and Growth," Journal of Economic Growth, Springer, vol. 1(1), pages 1-27, March.
- Milner, Helen V. & Kubota, Keiko, 2005. "Why the Move to Free Trade? Democracy and Trade Policy in the Developing Countries," International Organization, Cambridge University Press, vol. 59(01), pages 107-143, January.
- Luís Francisco Aguiar-Conraria & Maria Joana Soares & Nuno Azevedo, 2007. "Using Wavelets to decompose time-frequency economic relations," NIPE Working Papers 17/2007, NIPE - Universidade do Minho.
- Dario Maimone Ansaldo Patti & Pietro Navarra, 2009. "Globalization, democratization and economic growth," Applied Economics Letters, Taylor & Francis Journals, vol. 16(7), pages 731-734.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.