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The Composition and Cyclical Behavior of Trade Flows in Emerging Economies

Author

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  • Reinout De Bock

Abstract

Trade flows data show that the composition and cyclical properties of imports are similar in developed economies and emerging markets (EM) but this is not the case for exports. Unlike developed economies, (i) EM export few or only a selective set of capital goods and (ii) capital good and overall exports tend to be acyclical. The lack of procyclicality in exports drives the strong countercyclicality of EM trade balances observed in previous studies. A quantitative exercise demonstrates how the standard small open economy business cycle model can be improved for EM by incorporating these features.

Suggested Citation

  • Reinout De Bock, 2010. "The Composition and Cyclical Behavior of Trade Flows in Emerging Economies," IMF Working Papers 10/46, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:10/46
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    Cited by:

    1. Reinout De Bock & Alexander Demyanets, 2012. "Bank Asset Quality in Emerging Markets; Determinants and Spillovers," IMF Working Papers 12/71, International Monetary Fund.
    2. Reinout De Bock, 2011. "The Cost of Volatile Investment in an Emerging Economy," Economics Bulletin, AccessEcon, vol. 31(2), pages 1696-1705.
    3. Lance Kent, 2014. "Bilateral Linkages and the International Transmission of Business Cycles," Working Papers 149, Department of Economics, College of William and Mary.

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