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Global Interdependence, Decoupling, and Recoupling - MIT Press Scholarship Online
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Global Interdependence, Decoupling, and Recoupling

Yin-Wong Cheung and Frank Westermann


One lens through which to view global economic interdependence and the spillover of shocks is that of decoupling (and then recoupling). Decoupling between developed and developing countries can be seen in the strong economic performance of China and India relative to that of the United States and Europe in the early 2000s. Recoupling then took place as developing countries sank along with the developed world during the deepening financial crisis of 2008. This volume examines patterns of global economic interdependence and the propagation of shocks in an increasingly integrated world economy. T ... More

Keywords: Globalization, Trade, Exchange rates, Business cycles, Economic growth, Global economic interdependence

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780262019804
Published to MIT Press Scholarship Online: May 2014 DOI:10.7551/mitpress/9780262019804.001.0001


Affiliations are at time of print publication.

Yin-Wong Cheung, editor

Frank Westermann, editor

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1 Introduction

Yin-Wong Cheung, and Frank Westermann

I Measurement Issues

2 Measuring International Spillovers during Economic Expansions and Slowdowns

Marco J. Lombardi, Rossella Calvi, and Filippo di Mauro

3 Building a Synchronous Common-Cycle Index for the European Union

Gianluca Cubadda, Barbara Guardabascio, and Alain Hecq

II Business Cycles and Growth

5 Regionalization versus Globalization

Hideaki Hirata, M. Ayhan Kose, and Christopher Otrok

III Trade Linkages

8 Estimating Foreign Value-Added in Mexico’s Manufacturing Exports

Justino De La Cruz, Robert B. Koopman, Zhi Wang, and Shang-Jin Wei

IV The Role of Exchange Rates

End Matter