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Growth-cycle features of East Asian countries: are they similar?

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  • Eric Girardin

    (GREQAM-Université de la Méditerranée, France)

Abstract

This paper uses regime-switching techniques to examine the similarities of GDP growth-cycle features of 10 East Asian countries. A third regime of rapid growth is relevant for most countries. In Japan, South Korea and Taiwan, there was no secular slowdown in growth since the rapid-growth regime re-emerged at some stage. Japan is special since it shares each of its features with different countries, while China shares almost all its features with most countries. Finally, the same countries that were correlated with Japan in the 1980s have been linked with China since the 1990s. Copyright © 2005 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/ijfe.262
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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal International Journal of Finance & Economics.

Volume (Year): 10 (2005)
Issue (Month): 2 ()
Pages: 143-156

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Handle: RePEc:ijf:ijfiec:v:10:y:2005:i:2:p:143-156

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  1. Friedman, Milton, 1993. "The "Plucking Model" of Business Fluctuations Revisited," Economic Inquiry, Western Economic Association International, vol. 31(2), pages 171-77, April.
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Cited by:
  1. Angang Hu & Jie Lu & Zhengyan Xiao, 2011. "Has China's Economy Become More Stable and Inertial? Nonlinear Investigations Based on Structural Break and Duration Dependent Regime Switching Models," Annals of Economics and Finance, Society for AEF, vol. 12(1), pages 157-181, May.
  2. Dong He & Wei Liao, 2012. "Asian Business Cycle Synchronization," Pacific Economic Review, Wiley Blackwell, vol. 17(1), pages 106-135, 02.
  3. Hideaki Hirata & Keisuke Otsu, 2011. "Accounting for the economic relationship between Japan and the Asian Tigers," Studies in Economics 1120, Department of Economics, University of Kent.
  4. Gilles De Truchis & Benjamin Keddad, 2012. "South East Asian Monetary Integration: New Evidences from Fractional Cointegration of Real Exchange Rates," Working Papers halshs-00793503, HAL.
  5. Sumru Altug & Fabio Canova, 2014. "Do Institutions and Culture Matter for Business Cycles?," Open Economies Review, Springer, vol. 25(1), pages 93-122, February.
  6. Sumru Altuğ & Melike Bildirici, 2010. "Business Cycles around the Globe: A Regime Switching Approach," Working Papers 0032, Yildiz Technical University, Department of Economics, revised Mar 2010.
  7. Sánchez, Marcelo, 2005. "Is time ripe for a currency union in emerging East Asia? The role of monetary stabilisation," Working Paper Series 0567, European Central Bank.
  8. Kocenda, Evzen & Hanousek, Jan & Engelmann, Dirk, 2008. "Currencies, competition, and clans," Journal of Policy Modeling, Elsevier, vol. 30(6), pages 1115-1132.
  9. Erden, Lutfi & Ozkan, Ibrahim, 2014. "Determinants of international transmission of business cycles to Turkish economy," Economic Modelling, Elsevier, vol. 36(C), pages 383-390.
  10. Jie Lu & Angang Hu & Yilong Yan, 2012. "Nonlinear investigations of China's agricultural transformation based on the structural break regime switching model," China Agricultural Economic Review, Emerald Group Publishing, vol. 4(1), pages 52-68, February.

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