Have North-South Growth Linkages Changed?

38 Pages Posted: 15 Feb 2006

See all articles by Alexander W. Hoffmaister

Alexander W. Hoffmaister

International Monetary Fund (IMF) - Research Department

Hossein Samiei

International Monetary Fund (IMF)

Date Written: May 1996

Abstract

This paper provides preliminary econometric evidence suggesting that the traditional trade-based business cycle linkages between the North and the South have changed. Many countries in the South, in particular in Asia, appear to have become more resilient to cyclical movements in the North, and to have come to play a more significant role in sustaining global activity, in particular during the 1991-93 slowdown. A number of factors may have contributed to these changes: improved domestic policies and more open trade and exchange regimes; closer financial linkages with the North and a substantial increase in capital flows; a marked rise in inter-regional trade; and greater diversification of the exports of the South.

JEL Classification: C32, E37, F02

Suggested Citation

Hoffmaister, Alexander W. and Samiei, Hossein, Have North-South Growth Linkages Changed? (May 1996). IMF Working Paper No. 96/54, Available at SSRN: https://ssrn.com/abstract=882954

Alexander W. Hoffmaister (Contact Author)

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

Hossein Samiei

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States
(202) 623-6356 (Phone)

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