Please use this identifier to cite or link to this item: https://hdl.handle.net/1959.11/20318
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dc.contributor.authorLeu, Shawnen
dc.contributor.authorSheen, Jeffreyen
local.source.editorEditor(s): Yin-Wong Cheung, Vikas Kakkar & Guonan Maen
dc.date.accessioned2017-03-31T16:55:00Z
dc.date.issued2011en
dc.identifier.citationThe Evolving Role of Asia in Global Finance, v.9, p. 287-309en
dc.identifier.isbn9780857247469en
dc.identifier.isbn9780857247452en
dc.identifier.urihttps://hdl.handle.net/1959.11/20318en
dc.description.abstractWe consider whether there has been a gradual decoupling of the Australian business cycle from its trading partners in Europe and North America and a closer convergence toward its trading partners in Asia. We set up a dynamic latent factor model to estimate common dynamic components or factors for the real GDP growth rate of 19 countries. From variance decomposition over the 1991-2009 sample, we find that a global factor contributed the most in explaining Australian output growth variations, followed by a European factor, an Asian factor, and finally a North American factor. However, the correlation between Australian output growth movements and the Asian business cycle factor evolved from negative and small to positive and large after 2002. The European and North American factors were negatively correlated with Australian output growth for most of the sample period before turning positive in the global financial crisis of 2007-2008. This evidence supports the hypothesis that the Australian economy has decoupled to some extent from Europe, was not much coupled with North America except insofar as the United States drove the global factor, and has increasingly become positively coupled with Asia.en
dc.languageenen
dc.publisherEmerald Group Publishing Limiteden
dc.relation.ispartofThe Evolving Role of Asia in Global Financeen
dc.relation.ispartofseriesFrontiers of Economics and Globalizationen
dc.relation.isversionof1en
dc.titleThe Australia-Asia Business Cycle Evolutionen
dc.typeBook Chapteren
dc.identifier.doi10.1108/s1574-8715(2011)0000009017en
dc.subject.keywordsTime-Series Analysisen
dc.subject.keywordsMacroeconomics (incl. Monetary and Fiscal Theory)en
dc.subject.keywordsMacroeconomic Theoryen
local.contributor.firstnameShawnen
local.contributor.firstnameJeffreyen
local.subject.for2008140102 Macroeconomic Theoryen
local.subject.for2008140305 Time-Series Analysisen
local.subject.for2008140212 Macroeconomics (incl. Monetary and Fiscal Theory)en
local.subject.seo2008919999 Economic Framework not elsewhere classifieden
local.subject.seo2008910199 Macroeconomics not elsewhere classifieden
local.profile.schoolUNE Business Schoolen
local.profile.emailcleu@une.edu.auen
local.output.categoryB1en
local.record.placeauen
local.record.institutionUniversity of New Englanden
local.identifier.epublicationsrecordune-20170311-204338en
local.publisher.placeBingley, United Kingdomen
local.identifier.totalchapters16en
local.format.startpage287en
local.format.endpage309en
local.series.issn1574-8715en
local.identifier.volume9en
local.contributor.lastnameLeuen
local.contributor.lastnameSheenen
dc.identifier.staffune-id:cleuen
local.profile.orcid0000-0002-3620-537Xen
local.profile.roleauthoren
local.profile.roleauthoren
local.identifier.unepublicationidune:20515en
dc.identifier.academiclevelAcademicen
local.title.maintitleThe Australia-Asia Business Cycle Evolutionen
local.output.categorydescriptionB1 Chapter in a Scholarly Booken
local.relation.urlhttp://trove.nla.gov.au/version/94957993en
local.description.statisticsepubsVisitors: 10<br />Views: 11<br />Downloads: 0en
local.search.authorLeu, Shawnen
local.search.authorSheen, Jeffreyen
Appears in Collections:Book Chapter
UNE Business School
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