Have North-South Growth Linkages Changed?

IMF Working Papers, May 1, 1996

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Have North-South Growth Linkages Changed?

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Bibliographic details

• Authors: Willy A Hoffmaister, Mahmood Pradhan, Hossein Samiei
• Published: May 1, 1996
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451969627.001

Authors and publication

• Willy A Hoffmaister, Mahmood Pradhan, Hossein Samiei
• May 1, 1996
• IMF Working Papers, Working Paper No. 1996/054
• Volume: 1996; Issue: 054; Pages: 38
• DOI: https://doi.org/10.5089/9781451969627.001
• Stock No: WPIEA0541996
• ISBN: 9781451969627
• ISSN: 1018-5941

Research question and scope

• Examines whether traditional trade-based business cycle linkages between the North and the South have changed.
• Focus on empirical/econometric evidence and the role of Southern countries (particularly in Asia) in global activity, with attention to the 1991-93 slowdown.

Key findings (econometric evidence)

• Traditional trade-based North-South business cycle linkages have changed.
• Many countries in the South, particularly in Asia, appear to have become more resilient to cyclical movements in the North.
• These Southern countries have come to play a more significant role in sustaining global activity, notably during the 1991-93 slowdown.

Factors identified as contributing to the change

• 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.
• Greater diversification of the exports of the South.

Subjects and keywords (as provided)

• Subjects: Balance of payments, Capital flows, Export diversification, Exports, Foreign direct investment, International trade, Production, Production growth
• Keywords: Asia and Pacific, Capital flows, commodity export, developing country, developing country export, developing country region, Europe, export, Export diversification, export share, Exports, Foreign direct investment, growth rate, industrial country, Middle East, North America, Production growth, regions export, significance level, stabilization scheme, superscripts n, trade linkage, Western Hemisphere, world export, WP

Publication notes

• The Working Paper is described as research in progress intended to elicit comments and further debate.
• Disclaimer included: This Working Paper should not be reported as representing the views of the IMF. The views expressed are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

Source: IMF Working Paper No. 1996/054, "Have North-South Growth Linkages Changed?", Willy A Hoffmaister, Mahmood Pradhan, Hossein Samiei, May 1, 1996.