Synchronisation des cycles au sein du G7 et intégration commerciale et financière

Abstract

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Synchronisation Between South Africa and the U.S.: A Structural Dynamic Factor Analysis

“…On the other hand, Kose and Yi (2006), Kose et al (2003b), Stock and Watson (2003) and Heitz et al (2004) find that, despite large increases in trade and openness, G-7 business cycles have become less synchronised. The reason is that trade flows could lead to increased specialisation of production resulting in changes in the nature of business cycles.…”

Exchange effects and sectorial rotation role in selecting financial securities portfolios

“…The effects of the (commercial and/or financial) integration processes of economies by synchronizing the economic cycles are not obvious to the extent that they can lead to a higher specialization of the national economies, which is exposed to disadvantages of both specific sectorial and common shocks. However, most of empirical studies dealing with this issue show that the intensification of the commercial and financial integration noticed during these recent years leads to a correlation growth among national or regional economic cycles (Heitz, Hild and Monfort (2004)). But from this growth to the synchronization of the economic growth, Europe (France, Germany and Italy), became more and more sensitive to shocks originated in the North America (USA and Canada), when the latest is much more affected by European shocks (Monfort et al (2004)).…”

Recent French Export Performance: Is There a Competitiveness Problem?

“…In contrast, Kose and Yi (2006); Kose, Prasad, and Terrones (2003); Stock and Watson (2003); and Heitz, Hild, and Monfort (2004) find that G-7 business cycles have become less synchronized. A possible reason is that trade flows could lead to increased specialization resulting in changes in the nature of business cycles.…”