Spillovers to Low-Income Countries : Importance of Systemic Emerging Markets /

This paper documents the expanding economic linkages between low-income countries (LICs) and a narrow group of "Emerging Market leaders" that have become major players in regional and global trade and financial flows. VAR models show that these linkages have increased the share of growth v...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Dabla-Norris, Era
Muut tekijät: Espinoza, Raphael, Jahan, Sarwat
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2012.
Sarja:IMF Working Papers; Working Paper ; No. 2012/049
Linkit:Full text available on IMF
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100 1 |a Dabla-Norris, Era. 
245 1 0 |a Spillovers to Low-Income Countries :   |b Importance of Systemic Emerging Markets /  |c Era Dabla-Norris, Raphael Espinoza, Sarwat Jahan. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2012. 
300 |a 1 online resource (27 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper documents the expanding economic linkages between low-income countries (LICs) and a narrow group of "Emerging Market leaders" that have become major players in regional and global trade and financial flows. VAR models show that these linkages have increased the share of growth volatility that can be attributed to foreign shocks in LICs. Dynamic panel models further analyze the impact of LIC trade orientation and production structure on the sensitivity to foreign shocks. The empirical results demonstrate that the elasticity of growth to trading partners' growth is high for LICs in Asia, Latin America and the Caribbean, and Europe and Central Asia. However, for commodity-exporting LICs in Sub-Saharan Africa and the Middle East, terms of trade shocks and demand from the emerging market leaders are the main channels of transmission of foreign shocks. 
538 |a Mode of access: Internet 
700 1 |a Espinoza, Raphael. 
700 1 |a Jahan, Sarwat. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2012/049 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2012/049/001.2012.issue-049-en.xml  |z IMF e-Library