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Weltwirtschaftliches Archiv

, Volume 134, Issue 3, pp 367–403 | Cite as

Cross-country interdependencies in growth dynamics: A model of output growth in the G7 economies, 1960–1994

  • Kevin Lee
Articles

Abstract

Cross-Country Interdependencies in Growth Dynamics: A Model of Output Growth in the G7 Economies, 1960–1994. — Recently developed methods in time series analysis are employed to study output growth across the G7 economies. The methods accommodate the interdependencies that exist between economies’ growth, and provide the means for analyzing the sources of shocks to output growth and for examining the time profiles of the shock effects. Sophisticated dynamic adjustments in output are identified, due to lagged responses to shocks, the feedback of effects across countries, and the differential speeds of response to different types of shock. Among the shocks considered, those to world trade and oil prices are shown to significantly affect many countries’ output levels.

C32 E32 F43 

Zusammenfassung

Wechselseitige AbhÄngigkeiten zwischen LÄndern in der Wachstumsdynamik: Ein Modell des Produktionswachstums in den G7-Volkswirt-schaften 1960–1994. — Der Verfasser wendet kürzlich entwickelte Methoden der Zeit-reihenanalyse an, um das Produktionswachstum der G7-LÄnder zu untersuchen. Die Methoden erfassen die gegenseitigen AbhÄngigkeiten, die zwischen dem Wachstum von Volkswirtschaften bestehen, und liefern die Werkzeuge, um die Ursprünge von Schocks, die auf das Produktionswachstum einwirken, zu analysieren und die Zeitprofile der Wir-kungen von Schocks zu untersuchen. Verfeinerte dynamische Anpassungen der Pro-duktion werden ausgemacht, die sich aus den verzögerten Reaktionen auf Schocks, aus Rückkopplungen über die LÄnder hinweg und aus unterschiedlichen Reaktionsge-schwindigkeiten nach verschiedenen Typen von Schocks ergeben. Unter den betrachte-ten Schocks zeigt sich, da\ diejenigen, die den Welthandel und die ölpreise betreffen, das Produktionsniveau vieler LÄnder signifikant beeinflussen.

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Copyright information

© Institut für Weltwirtschaft an der Universität Kiel 1998

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  • Kevin Lee

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