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Business Cycle Synchronization and Regional Integration: A Case Study for Central America

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  • Norbert Fiess

Abstract

Deeper trade integration between Central America and the United States, as envisaged under the Central American Free Trade Agreement, is likely to lead to closer links between Central American and U.S. business cycles. This article assesses the degree of business cycle synchronization between Central America and the United States--relevant not only for a better understanding of the influence of important trading partners on the business cycle fluctuations in the domestic economy but for evaluating the costs and benefits of macroeconomic coordination. Copyright 2007, Oxford University Press.

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Bibliographic Info

Article provided by World Bank Group in its journal The World Bank Economic Review.

Volume (Year): 21 (2007)
Issue (Month): 1 ()
Pages: 49-72

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Handle: RePEc:oup:wbecrv:v:21:y:2007:i:1:p:49-72

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Cited by:
  1. Hideaki Hirata & M. Ayhan Kose & Chris Otrok, . "Regionalization vs. Globalization," Working Paper 164456, Harvard University OpenScholar.
  2. Emilio Espino & Julian Kozlowski & Juan M. Sánchez, 2013. "Regionalization vs. globalization," Working Papers 2013-002, Federal Reserve Bank of St. Louis.
  3. Piljak, Vanja, 2013. "Bond markets co-movement dynamics and macroeconomic factors: Evidence from emerging and frontier markets," Emerging Markets Review, Elsevier, vol. 17(C), pages 29-43.
  4. Nannette Lindenberg & Frank Westermann, 2009. "How Strong is the Case for Dollarization in Costa Rica? A Note on the Business Cycle Comovements with the United States," Working Papers 79, Institute of Empirical Economic Research.
  5. Gould, David & Loening, Josef L., 2008. "Central America's Macroeconomic Environment and the Role of the Investment Climate under Free Trade," MPRA Paper 25896, University Library of Munich, Germany.
  6. Carlos Felipe Jaramillo & Daniel Lederman & Maurizio Bussolo & David Gould & Andrew Mason, 2006. "Challenges of CAFTA : Maximizing the Benefits for Central America," World Bank Publications, The World Bank, number 7127, July.
  7. Andrew Swiston, 2010. "Spillovers to Central America in Light of the Crisis," IMF Working Papers 10/35, International Monetary Fund.
  8. World Bank, 2008. "Local Gains from Global Opportunities : Improving Central America's Investment Climate," World Bank Other Operational Studies 7959, The World Bank.

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