TITLE

Growth and Volatility in an Era of Globalization

AUTHOR(S)
Kose, M. Ayhan; Prasad, Eswap S.; Terrones, Marco E.
PUB. DATE
September 2005
SOURCE
IMF Staff Papers;2005 Special Issue, Vol. 52, p31
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
We extend the analysis in Kose, Prasad, and Terrones (2005) to provide a comprehensive examination of the cross-sectional relationship between growth and macro-economic volatility over the past four decades. We also document that while there has generally been a negative relationship between volatility and growth during this period, the nature of this relationship has been changing over time and across different country groups. In particular we detect major shifts in this relationship after trade and financial liberalizations. In addition, our results show that volatility stemming from the main components of domestic demand is negatively associated with economic growth.
ACCESSION #
18699048

 

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