Global shocks in emerging economies: An empirical investigation
AUTOR(ES)
FERREIRA, MAURO SAYAR; VALÉRIO, ANDRÉ CORDEIRO
FONTE
Revista Brasileira de Economia
DATA DE PUBLICAÇÃO
2022
RESUMO
Resumo Shocks in commodity prices are viewed as a major driver of emerging economies’ business cycle. We show this is not the case for Brazil, Chile, Colombia, and Peru when a structural vector autoregressive model accounts for macro-finance linkages at world and domestic levels. The presence of a global financial variable modifies established results as it endogenously influences commodity prices. Global demand shocks have been the main external driver of the business cycle in Brazil, Chile, and Peru, while global economic uncertainty shocks have been the main international driver of the Colombian GDP.
Documentos Relacionados
- The Open Innovation Journey in Emerging Economies: An Analysis of the Brazilian Aerospace Industry
- Performance effects of stakeholder interaction in emerging economies: evidence from Brazil
- External debt in developing economies: assessment and policy issues
- An empirical study of economies of scope in home healthcare.
- Media piracy in emerging economies