Abstract:
Based on the annual information of 15 Asia-Pacific countries for the period of 2000-2010, this paper studies the impact of trade in part and component on regional business cycle synchronisation. The findings show that trade in part and component products has a positive effect on business cycle synchronization, and the similar industrial structure leads to more synchronised business cycle; at the same time, deeper financial integration weakens synchronisation. Our findings suggest that a multilateral cooperation between Asia-Pacific economies is necessary for stable growth.
SHAO Jun, LI Shuang.Trade in Part and Component Products and Business Cycle Synchronization between Asia-Pacific Economies[J] Economic Survey, 2014,V31(3): 48-53