Abstract
The original motivation behind grouping Brazil, Russia, India, China, and South Africa as a relevant economic entity was based on a number of similarities concerning the challenges and opportunities for growth of these emerging nations. In this chapter, we employ a methodology originally proposed be Diebold and Yilmaz in a number of papers (Diebold and Yilmaz, Econ J 119:158–171, 2009; Int J Forecast 28:57–66, 2012; J Econ 182(1):119–134, 2014) to investigate to what extent the economies of these countries are indeed related to each other, analyzing the transmission of economic “shocks” between them.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsReferences
Arouba SB, Diebold FX, Kose M, Terrones M (2011) Globalization, the business cycle, and macroeconomic monitoring. In: Clarida R, Giavazzi F (eds) NBER international seminar on macroeconomics 2010. University of Chicago Press, Cambridge, pp 245–301
Canova F, Ciccarellu M, Ortega E (2007) Similarities and convergence in G-7 cycles. J Monet Econ 53:850–878
Diebold FX, Yilmaz K (2009) Measuring financial asset returns and volatility spillovers, with application to global equity markets. Econ J 119:158–171
Diebold FX, Yilmaz K (2012) Better to give than to receive: predictive measurement of volatility Spillovers (with discussion). Int J Forecast 28:57–66
Diebold FX, Yilmaz K (2014) On the network topology of variance decompositions: measuring the connectedness of financial firms. J Econ 182(1):119–134
Granger RF, Lee T (1989) Investigation of production, sales and inventory relations using multicointegration and non-symmetric error-correction models. J Appl Econ 4(Suppl):S145–S159
Kose M, Otrok C, Whiteman C (2003) International business cycles: world, region, and country-specific factors. Am Econ Rev 93:1216–1239
Kose M, Otrok C, Whiteman C (2008) Understanding the evolution of world business cycles. J Monet Econ 75:110–130
Montasser G, Gupta R (2014) An application of a new seasonal unit root test for trending and breaking series in industrial production of the BRICS. http://econpapers.repec.org/RePEc:pre:wpaper:201435
Stock J, Watson M (2005) Understanding changes in international business cycle dynamics. J Eur Econ Assoc 3:968–1006
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 Springer International Publishing AG, part of Springer Nature
About this chapter
Cite this chapter
Picchetti, P. (2019). The Connectedness of Business Cycles Between the BRICS. In: Smirnov, S., Ozyildirim, A., Picchetti, P. (eds) Business Cycles in BRICS. Societies and Political Orders in Transition. Springer, Cham. https://doi.org/10.1007/978-3-319-90017-9_4
Download citation
DOI: https://doi.org/10.1007/978-3-319-90017-9_4
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-90016-2
Online ISBN: 978-3-319-90017-9
eBook Packages: Political Science and International StudiesPolitical Science and International Studies (R0)