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Decoupling: Myth or Reality?

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  • Bernhardt, Thomas

Abstract

When, in the mid-2000s, large parts of the global South experienced an impressive economic boom, the idea that a number of emerging market economies were “decoupling” from the industrialized economies in the North gained considerable prominence. The financial and economic crisis that originated in the US and the global recession that it entailed, however, put this idea into question. The present paper analyzes different channels of crisis transmission and crisis effects in emerging markets (and the BRIC countries in particular) to demonstrate that decoupling is a myth rather than reality.

Suggested Citation

  • Bernhardt, Thomas, 2010. "Decoupling: Myth or Reality?," MPRA Paper 56372, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:56372
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    File URL: https://mpra.ub.uni-muenchen.de/56372/1/MPRA_paper_56372.pdf
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    References listed on IDEAS

    as
    1. Lewis, W Arthur, 1980. "The Slowing Down of the Engine of Growth," American Economic Review, American Economic Association, vol. 70(4), pages 555-564, September.
    2. José Antonio Ocampo, 2009. "Latin America and the global financial crisis," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 703-724, July.
    3. M. Ayhan Kose & Christopher Otrok & Eswar Prasad, 2012. "Global Business Cycles: Convergence Or Decoupling?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(2), pages 511-538, May.
    4. World Bank, 2009. "China," World Bank Other Operational Studies 28153, The World Bank.
    5. N/A, 2009. "On the Recession," Local Economy, London South Bank University, vol. 24(3), pages 253-253, May.
    6. Dilip Das, 2006. "The Chinese and Indian Economies: Comparing the Comparables," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 4(1), pages 77-89.
    7. Jayati Ghosh & C. P. Chandrasekhar, 2009. "The costs of 'coupling': the global crisis and the Indian economy," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 725-739, July.
    8. Stephany Griffith-Jones & José Antonio Ocampo, 2009. "The Financial Crisis and Its Impact on Developing Countries," Working Papers 53, International Policy Centre for Inclusive Growth.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Decoupling; Emerging markets; Economic crisis; Transmission channels; Dependence;

    JEL classification:

    • F1 - International Economics - - Trade
    • F3 - International Economics - - International Finance
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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