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Please use this identifier to cite or link to this item: http://hdl.handle.net/2344/162

タイトル: Trade and Business Cycle Correlations in Asia-Pacific
著者: Kumakura, Masanaga
熊倉, 正修
キーワード: Business cycles
Optimum currency area
Trade
Electronics
Trade problem
Monetary policy
Asia
Oceania
景気
貿易
エレクトロニクス
貿易問題
金融政策
アジア
オセアニア
Issue Date: Dec-2005
出版者: Institute of Developing Economies, JETRO
引用: IDE Discussion Paper. No. 44. 2005.12
抄録: Recent empirical studies challenge the traditional theory of optimum currency areas by arguing that a monetary union enhances trade and business cycle co-movements among its member countries sufficiently as to obviate the need for national monetary policy. This paper examines the empirical relationship between trade and business cycle correlations among thirteen Asia-Pacific countries, paying particular attention to the structural characteristics of their economies and other issues not explored fully in the literature. According to our result, although trade is relevant to the business cycles of individual countries, the main determinant of their international correlations is not the geographical structure of their trade but what they produce and export --more specifically the extent to which their output and exports are concentrated on electronic products.
URI: http://hdl.handle.net/2344/162
Appears in Collections:01.経済、産業(Economy and Industry)/複数地域(Interregional Studies)
04.IDE Discussion Paper

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