"Core" and "Periphery" in the World Economy: An Empirical Assessment of the Dependence of Third World Growth on the Developed Countries

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"Core" and "Periphery" in the World Economy: An Empirical Assessment of the Dependence of Third World Growth on the Developed Countries

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Julius Horvath (Southern Illinois University at Carbondale)
Richard Grabowski (Southern Illinois University at Carbondale)

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Julius Horvath

Abstract

This paper classifies the relationship between the developed and developing countries into three categories: strong dependency, weak dependency and independence of the developing country on the developed world (G-7). A country is characterized as strongly (weakly) dependent when it has a negative (positive) response to permanent shocks originating from the center and the weight of these shocks is relatively important in explaining total variation in the output of the developing country. Independence is characterized with low weight of shocks from the center. The results of a dynamic vector autoregressive model suggest that from the sample of 86 developed countries only five of them could be considered strongly dependent, while the others are roughly divided equally into weakly dependent and independent.

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Paper provided by EconWPA in its series Development and Comp Systems with number 9609002.

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Length: 30 pages
Date of creation: 26 Sep 1996
Date of revision: 30 Sep 1996
Handle: RePEc:wpa:wuwpdc:9609002

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Find related papers by JEL classification:
F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
O50 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - General
E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Institutional; Evolutionary

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