English, Article, Journal or magazine article edition: International Capital Flows and Boom-Bust Cycles in the Asia Pacific Region Henry Kim; Soyoung Kim; Yunjong Wang

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Bookmark: http://trove.nla.gov.au/version/200842
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • International Capital Flows and Boom-Bust Cycles in the Asia Pacific Region
Author
  • Henry Kim
  • Soyoung Kim
  • Yunjong Wang
Physical Description
  • preprint
Notes
  • This paper documents evidence of business cycle synchronization in selected Asia Pacific countries in the 1990s. We explain business cycle synchronization by the channel of international capital flows. Using the VAR method, we find that most Asian countries experience boom-bust cycles following capital inflows, where the boom in output is mostly driven by consumption and investment. Empirical evidence shows that capital flows in the region are highly correlated, which supports the conclusion that capital market liberalization has contributed to business cycle synchronization in Asia. We also find that business cycles in the Asian crisis countries are highly synchronized with those in Japan.
  • business cycle synchronization, capital flows, boom-bust cycles, financial integration
  • RePEc:tuf:tuftec:0506
Language
  • English
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