IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Business Cycle Synchronization in the East Asian Economies

  • Xulan Yu
  • Yoshihiko Tsukuda
Registered author(s):

    The paper examines the possibility of financial cooperation by investigating the business cycle synchronization among the eight core East Asian countries(China, Japan, Korea, Indonesia, Malaysia, the Philippines, Singapore, and Thailand) using the logarithm of per capita real GDP data from 1994Q1 to 2005Q3. The paper employs the model of multivariate time series analysis developed by Engle and Kozicki (1993) and Vahid and Engle (1993). The empirical study reveals that the per capita real GDP series in the region have 2 cointegration vectors in the long-run and 4 cofeature vectors in the short-run dynamics. In other words, the GDP series in the region share 6 common stochastic trends in the long run and 4 common business cycles in the short run. The result indicates that the East Asian countries satisfy an important precondition for creating the financial cooperation in the higher levels.

    If 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.

    File URL: http://hdl.handle.net/10097/55383
    Download Restriction: no

    File URL: http://ir.library.tohoku.ac.jp/re/bitstream/10097/55383/1/terg225.pdf
    Download Restriction: no

    Paper provided by Graduate School of Economics and Management, Tohoku University in its series TERG Discussion Papers with number 225.

    as
    in new window

    Length: 24 pages
    Date of creation: Dec 2007
    Date of revision:
    Handle: RePEc:toh:tergaa:225
    Contact details of provider: Postal: Kawauchi, Aoba-ku, Sendai 980-8476
    Web page: http://www.econ.tohoku.ac.jp/econ/english/index.html
    Email:


    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:toh:tergaa:225. See general 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: (Tohoku University Library)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.