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Regional and Outward Economic Integration in South-East Asia

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  • Weber, Enzo

Abstract

The subject of this paper tackles macroeconomic integration of the South-East Asian countries South Korea, Singapore and Taiwan. Economically, the analysis is based on notions of stochastic long-run convergence and business cycle synchrony in the GDPs. According tests for cointegration and common serial correlation features reveal a high degree of coherence in long-run growth and medium-run fluctuations. This allows extracting a common stochastic growth trend and a common business cycle. Further analysis shows that both of these components are subject to stronger influences from the US than from Japan. Convergence towards these matured economies conspicuously appears since the 1990s.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 6136.

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Date of creation: Apr 2007
Date of revision: Dec 2007
Handle: RePEc:pra:mprapa:6136

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Keywords: Economic Integration; Cointegration; Common Cycles; South-East Asia;

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  1. Engle, Robert F & Kozicki, Sharon, 1993. "Testing for Common Features: Reply," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 11(4), pages 393-95, October.
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  14. Enzo Weber, 2006. "Macroeconomic Integration in Asia Pacific: Common Stochastic Trends and Business Cycle Coherence," SFB 649 Discussion Papers SFB649DP2006-039, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
  15. Bernard, A.B. & Durlauf, S.N., 1993. "Convergence in International Output," Working papers 93-7, Massachusetts Institute of Technology (MIT), Department of Economics.
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Citations

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Cited by:
  1. Enzo Weber, 2013. "Economic integration and the foreign exchange," International Economics and Economic Policy, Springer, vol. 10(2), pages 201-215, June.
  2. Emilio Espino & Julian Kozlowski & Juan M. Sánchez, 2013. "Regionalization vs. globalization," Working Papers, Federal Reserve Bank of St. Louis 2013-002, Federal Reserve Bank of St. Louis.
  3. Hideaki Hirata & M. Ayhan Kose & Christopher Otrok, 2013. "Regionalization vs. Globalization," Koç University-TUSIAD Economic Research Forum Working Papers, Koc University-TUSIAD Economic Research Forum 1302, Koc University-TUSIAD Economic Research Forum.
  4. Volodymyr Perederiy, 2007. "Kombinierte Liquiditäts- und Solvenzkennzahlen und ein darauf basierendes Insolvenzprognosemodell für deutsche GmbHs," SFB 649 Discussion Papers SFB649DP2007-060, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.

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