Using common features to investigate common growth cycles for BRICS Countries
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Outros Autores: | , |
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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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 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
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publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/18292 |
dc.identifier.issn.none.fl_str_mv |
0104-8910 |
identifier_str_mv |
0104-8910 |
url |
http://hdl.handle.net/10438/18292 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.ispartofseries.por.fl_str_mv |
Ensaios Econômicos;784 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
dc.source.none.fl_str_mv |
reponame:Repositório Institucional do FGV (FGV Repositório Digital) instname:Fundação Getulio Vargas (FGV) instacron:FGV |
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FGV |
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FGV |
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Repositório Institucional do FGV (FGV Repositório Digital) |
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