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Core and Periphery in the World Economy: An Empirical Assessment of the Integration of the Developing Countries Into the World Economy

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  • Horvath Julius
  • Grabowski Richard

Abstract

In this paper a dynamic structural vector-autoregressive model is utilized to Analyze the impact of shocks from the developed center (G-7) on the less developed periphery. Three possibilities emerge with less developed nations being negatively dependent on the center, positively integrated with the center, or independent of the center. A less developed country is classified as negatively dependent when shocks from the center have a negative impact and are relatively important in explaining variations in the output of the developing country. A less developed country is positively integrated if the shocks from the center have positive effects and explain a large share of the variation in output in the developing country. The results indicate that from the sample of eighty-six developed countries only five could be considered dependent, while the others are roughly equally divided into those positively integrated and those that are independent. [F02, F43, 050]

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal International Economic Journal.

Volume (Year): 13 (1999)
Issue (Month): 4 ()
Pages: 35-51

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Handle: RePEc:taf:intecj:v:13:y:1999:i:4:p:35-51

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  1. Ahmed, Shaghil & Ickes, Barry W. & Ping Wang & Byung Sam Yoo, 1993. "International Business Cycles," American Economic Review, American Economic Association, vol. 83(3), pages 335-59, June.
  2. Bayoumi, Tamim & Eichengreen, Barry, 1992. "Shocking Aspects of Monetary Unification," Department of Economics, Working Paper Series qt791143kp, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  3. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
  4. Blanchard, Olivier Jean & Quah, Danny, 1989. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," American Economic Review, American Economic Association, vol. 79(4), pages 655-73, September.
  5. Cooley, Thomas F. & Leroy, Stephen F., 1985. "Atheoretical macroeconometrics: A critique," Journal of Monetary Economics, Elsevier, vol. 16(3), pages 283-308, November.
  6. Krueger, Anne O, 1990. "Asian Trade and Growth Lessons," American Economic Review, American Economic Association, vol. 80(2), pages 108-12, May.
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