Using common features to investigate common growth cycles for BRICS Countries

Detalhes bibliográficos
Autor(a) principal: Delalibera, Bruno Ricardo
Data de Publicação: 2017
Outros Autores: Issler, João Victor, Branco, Roberto da Cunha Castello
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/18292
Resumo: Emerging market economies have historically shown high cyclical volatility when compared to developed economies. Common factor models have been largely used in economics as economic theory suggests that there strong linkages between economic activity across different industries or countries. This paper examines the short and long-term co-movement of large emerging market economies – the BRICS countries – by applying the econometric techniques and the tests proposed in the common-feature literature. Despite their dissimilarities, given the rising trade linkages among the BRICS over the last 20 years one should expect their cycles to be synchronized. Our empirical findings fully support this hypothesis. The evidence holds also for the co-movement between the BRICS and developed economies, the US and the Eurozone, which may re- flect the effects of globalization. We believe that our results contribute to give an interesting insight into the short–term dynamics of the largest emerging market economies.
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spelling Delalibera, Bruno RicardoIssler, João VictorBranco, Roberto da Cunha CastelloEscolas::EPGEFGV2017-05-30T18:42:46Z2017-05-30T18:42:46Z2017-05-300104-8910http://hdl.handle.net/10438/18292Emerging market economies have historically shown high cyclical volatility when compared to developed economies. Common factor models have been largely used in economics as economic theory suggests that there strong linkages between economic activity across different industries or countries. This paper examines the short and long-term co-movement of large emerging market economies – the BRICS countries – by applying the econometric techniques and the tests proposed in the common-feature literature. Despite their dissimilarities, given the rising trade linkages among the BRICS over the last 20 years one should expect their cycles to be synchronized. Our empirical findings fully support this hypothesis. The evidence holds also for the co-movement between the BRICS and developed economies, the US and the Eurozone, which may re- flect the effects of globalization. We believe that our results contribute to give an interesting insight into the short–term dynamics of the largest emerging market economies.engEscola de Pós-Graduação em Economia da FGVEnsaios Econômicos;784Emerging market economiesBRICSCommon Growth CyclesGrowthEconomiaCiclos econômicosDesenvolvimento econômicoPaíses do BRICS - Condições econômicasUsing common features to investigate common growth cycles for BRICS Countriesinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessTEXTUsing-Common-Features-to-Investigate-Common-Growth-Cycles-for-BRICS-Countries.pdf.txtUsing-Common-Features-to-Investigate-Common-Growth-Cycles-for-BRICS-Countries.pdf.txtExtracted 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dc.title.eng.fl_str_mv Using common features to investigate common growth cycles for BRICS Countries
title Using common features to investigate common growth cycles for BRICS Countries
spellingShingle Using common features to investigate common growth cycles for BRICS Countries
Delalibera, Bruno Ricardo
Emerging market economies
BRICS
Common Growth Cycles
Growth
Economia
Ciclos econômicos
Desenvolvimento econômico
Países do BRICS - Condições econômicas
title_short Using common features to investigate common growth cycles for BRICS Countries
title_full Using common features to investigate common growth cycles for BRICS Countries
title_fullStr Using common features to investigate common growth cycles for BRICS Countries
title_full_unstemmed Using common features to investigate common growth cycles for BRICS Countries
title_sort Using common features to investigate common growth cycles for BRICS Countries
author Delalibera, Bruno Ricardo
author_facet Delalibera, Bruno Ricardo
Issler, João Victor
Branco, Roberto da Cunha Castello
author_role author
author2 Issler, João Victor
Branco, Roberto da Cunha Castello
author2_role author
author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Delalibera, Bruno Ricardo
Issler, João Victor
Branco, Roberto da Cunha Castello
dc.subject.por.fl_str_mv Emerging market economies
BRICS
Common Growth Cycles
Growth
topic Emerging market economies
BRICS
Common Growth Cycles
Growth
Economia
Ciclos econômicos
Desenvolvimento econômico
Países do BRICS - Condições econômicas
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Ciclos econômicos
Desenvolvimento econômico
Países do BRICS - Condições econômicas
description Emerging market economies have historically shown high cyclical volatility when compared to developed economies. Common factor models have been largely used in economics as economic theory suggests that there strong linkages between economic activity across different industries or countries. This paper examines the short and long-term co-movement of large emerging market economies – the BRICS countries – by applying the econometric techniques and the tests proposed in the common-feature literature. Despite their dissimilarities, given the rising trade linkages among the BRICS over the last 20 years one should expect their cycles to be synchronized. Our empirical findings fully support this hypothesis. The evidence holds also for the co-movement between the BRICS and developed economies, the US and the Eurozone, which may re- flect the effects of globalization. We believe that our results contribute to give an interesting insight into the short–term dynamics of the largest emerging market economies.
publishDate 2017
dc.date.accessioned.fl_str_mv 2017-05-30T18:42:46Z
dc.date.available.fl_str_mv 2017-05-30T18:42:46Z
dc.date.issued.fl_str_mv 2017-05-30
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
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identifier_str_mv 0104-8910
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