Growth and Volatility in an Era of Globalization

Kose, M. Ayhan; Prasad, Eswap S.; Terrones, Marco E.
September 2005
IMF Staff Papers;2005 Special Issue, Vol. 52, p31
Academic Journal
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.


Related Articles

  • The State of Globalization. Stark, J├╝rgen // International Economy;Spring2005, Vol. 19 Issue 2, p52 

    Looks into globalization of economic structures. Increase in the risk of sudden exchange rate and financial market movement; Shift the global manufacturing operations towards Asia; Possibility of economic and political tensions between the trading partners of countries.

  • TYPES OF ENTERPRISES - MAIN RISK AND IMPACT FACTORS SPECIFIC TO THE COMPLEX BUSINESS AREA. DOBRIN, Gabriel Ionel // Journal of Public Administration, Finance & Law;2015, Issue 7, p49 

    All the progress achieved in various fields of activity (technology, communication etc.) considerably diminishes its distribution time and distance. A consequence of this fact is the market globalization phenomenon, in the context of local peculiarities conservation and maintenance. Currently,...

  • Globalisation and the Politics of Persuasion and Coercion. Conley, Tom // Australian Journal of Social Issues (Australian Council of Socia;May2004, Vol. 39 Issue 2, p183 

    This paper argues that an economic liberal discourse of globalisation has been pivotal to the policy-making process in Australia over the past 15 or so years. Both Labor and Coalition Governments have aimed to restrict the electoral fall-out from the process of restructuring by persuading...

  • The Nature of Aid and Trade Relationships. Osei, Robert; Morrissey, Oliver; Lloyd, Tim // European Journal of Development Research;Jun2004, Vol. 16 Issue 2, p354 

    Researchers have analysed the relationship between aid and trade flows from donors to recipients to address one of two questions: (a) do donors use aid to increase their trade with recipients (aid leads to trade)? (b) Is trade a determinant of aid allocation decisions of donors (trade leads to...

  • CONGO: Country Conditions: Climate for Trade.  // Political Risk Yearbook: Congo Country Report;2006, p34 

    Provides an overview of trade relations of the Republic of the Congo. Failure by the Congolese government to implement the measures provided in the Monetary and Economic Community of Central Africa (CEMAC) customs union; Implications of CEMAC for the foreign trade relations of Congo; List of...

  • Administration Cites China Trade Progress. Morrissey, James A. // Textile World;Nov2004, Vol. 154 Issue 11, p12 

    Although a growing number of manufacturing industries are expressing concern in 2004 over the dominance of China in international trade, the Bush administration has stoutly defended its policies, which it says are producing the real results and increasing opportunities for U.S. workers, farmers...

  • Maintaining a healthy balance. Richards, Catherine // MEED: Middle East Economic Digest;5/16/2003, Vol. 47 Issue 20, p30 

    Focuses on the trade relations of Italy with Middle East countries as of May 2003. Decline in the country's trade surplus in 2002; Information on Italian petroleum companies in the Middle East; Problem poses by the large number of small exporters with Middle East countries.

  • CHAPTER 10: Local economies, trade and global sustainability. Perkins, P. E. // Local Environmental Sustainability;2003, p213 

    The article reflects on local economies, trade and global sustainability. As local economies grow in response to economic globalization and global ecological realities, their characteristics and implications will become clearer. Thus, local economies play an important role in many people's...

  • Economic Integration in the Post-Soviet Space. Zhukov, S.; Reznikova, O. // Russian Social Science Review;Jul/Aug2008, Vol. 49 Issue 4, p80 

    The article presents an analysis on the economic integration in the post-Soviet territory. The continuous attempts to create economic unions and entities in the modern Russia aimed at multilateral economic cooperation. It is argued that economic interrelations among the independent states are...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics