Evidence of the North--South business cycle
This article examines the fluctuations of two regional economies: the developed, industrial goods exporting countries of the world ("North") and the developing, commodity exporting countries ("South"). The author finds that these very different regions have similar business cycle characteristics and that cyclical fluctuations in one region are positively correlated with fluctuations in other. Preliminary data analysis suggests that cyclical fluctuations in the South are caused by fluctuations that originate in the North.
Volume (Year): (2001)
Issue (Month): Q I ()
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References listed on IDEAS
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"What can account for fluctuations in the terms of trade?,"
Working Paper Series
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93-21, New York University, Leonard N. Stern School of Business, Department of Economics.
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- Lucas, Robert E., 1977. "Understanding business cycles," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 5(1), pages 7-29, January.
- Eduardo Borensztein & Carmen Reinhart, 1994. "The Macroeconomic Determinants of Commodity Prices," IMF Working Papers 94/9, International Monetary Fund.
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