دانلود مقاله ISI انگلیسی شماره 51536
ترجمه فارسی عنوان مقاله

چگونه تجارت و یکپارچگی مالی بر رابطه رشد و نوسانات تاثیر می گذارد؟

عنوان انگلیسی
How do trade and financial integration affect the relationship between growth and volatility?
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
51536 2006 27 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of International Economics, Volume 69, Issue 1, June 2006, Pages 176–202

ترجمه کلمات کلیدی
جهانی شدن؛ تجارت بین المللی و ارتباطات مالی؛ نوسانات اقتصاد کلان و رشد
کلمات کلیدی انگلیسی
F41; F36; F15Globalization; International trade and financial linkages; Macroeconomic volatility and growth
پیش نمایش مقاله
پیش نمایش مقاله  چگونه تجارت و یکپارچگی مالی بر رابطه رشد و نوسانات تاثیر می گذارد؟

چکیده انگلیسی

The influential work of Ramey and Ramey [Ramey, G., Ramey, V.A., 1995. Cross-country evidence on the link between volatility and growth. American Economic Review 85, 1138–1151 (December).] highlighted an empirical relationship that has now come to be regarded as conventional wisdom—that output volatility and growth are negatively correlated. We reexamine this relationship in the context of globalization—a term typically used to describe the phenomenon of growing international trade and financial integration that has intensified since the mid-1980s. Using a comprehensive new data set, we document that, while the basic negative association between growth and volatility has been preserved during the 1990s, both trade and financial integration significantly weaken this negative relationship. Specifically, we find that, in a regression of growth on volatility and other controls, the estimated coefficient on the interaction between volatility and trade integration is significantly positive. We find a similar, although less robust, result for the interaction of financial integration with volatility.