Business Cycle Co-movements between South Africa and the BRIC Countries
AbstractThis paper investigates the co-movement of business cycles between South Africa and the other BRICS countries namely, Brazil, Russia, India, and China, the so-called BRICs. In particular, it identi.es the nature and key features of the co-movement of cycles of South African economy with cycles of the BRICs. It uses the dynamic factor model to a set of 307 macroeconomic series during the period 1995Q2-2009Q4. We .nd signi.cant evidence of synchronization between South Africa and the BRIC countries over the business cycle, although the magnitude of co-movement diÂ¤ers with each country. India portrays strong ties with South Africa over time. Moreover, Brazil, China, and Russia lead South Africa in the long-run, while India is contemporaneous. Further, the .ndings imply that the .rst two factors are BRICS factors while the third one is a US factor.
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 InfoPaper provided by Economic Research Southern Africa in its series Working Papers with number 324.
Length: 36 pages
Date of creation: 2013
Date of revision:
Contact details of provider:
Postal: Newlands on Main, F0301 3rd Floor Mariendahl House, cnr Campground and Main Rds, Claremont, 7700 Cape Town
Phone: 021 671-3980
Fax: +27 21 671 3912
Web page: http://www.econrsa.org/
More information through EDIRC
Dynamic Factor Model; International Business Cycles; Co-movement; BRICS;
Find related papers by JEL classification:
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
This paper has been announced in the following NEP Reports:
- NEP-AFR-2013-01-26 (Africa)
- NEP-ALL-2013-01-26 (All new papers)
- NEP-CIS-2013-01-26 (Confederation of Independent States)
- NEP-OPM-2013-01-26 (Open Economy Macroeconomic)
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Yoemna Mosaval).
If references are entirely missing, you can add them using this form.