Regional business cycles in emerging economies: a review of the literature

Padilla, Alcides de J.; Otero, Jorge David Quintero

doi:10.1108/ijoem-09-2021-1484

Cited by 2 publications

(1 citation statement)

References 56 publications

(255 reference statements)

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“…Lucas has emphasized that, in terms of the nature of the linkage behavior between economic time series, the BCs exhibit similarities. The usual description methods include positive or negative correlations, leading or lagging indicators and volatility (Padilla & Quintero Otero, 2022).…”

Section: The Nature Of Bcsmentioning

confidence: 99%

A systematic literature review on business cycle approaches: Measurement, nature, duration

Pu,

Fan,

et al. 2023

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Research background: The business cycle (BC) approaches have found extensive use in economic analysis and forecasting. Especially in the last 40 years, various modern BC models have been proposed and have experienced rapid development. However, there are no recent studies that provide a systematic review of the publications on this topic. Purpose of the article: This paper aims to comprehensively review publications of BC approaches based on the cause, nature and methods of measurement BC, with the goal of identifying the current research states, research gaps and future trends of BC approaches. Methods: A systematic literature review of BC approaches is conducted by qualitatively introducing the cause and the nature of BCs and quantitatively analyzing the methods of measurement BCs. We selected 206 articles related to BC approaches from the WoS Core Collection and Google Scholar database, spanning the years 1946 to 2022, for comprehensive statistical and content analysis. The statistical analysis presents the distribution of publication years, the most popular journals and the highly cited publications. The content analysis classifies the selected publications into 6 categories based on methods of measurement BCs, and the theory, technique and applications of each category are analyzed in detail. Findings & value added: The analysis results indicate that BC approaches have progressively evolved in sophistication and have found widespread application in decomposing trends within economic time series, quantifying the nature of business cycles, and elucidating the causes and transmission mechanisms underlying them. This review paper provides current states, research challenges and future directions in effectively employing BC approaches for empirical study.

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Section: The Nature Of Bcsmentioning

confidence: 99%

A systematic literature review on business cycle approaches: Measurement, nature, duration

Pu,

Fan,

et al. 2023

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Impact of sub-national synchronization on the behavior of national business cycles in emerging economies with inflation targeting

Padilla,

Quintero Otero

2024

JES

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PurposeThe purpose of this paper is to assess sub-national business cycle (BC) synchronization's impact on national cycles in four emerging markets economies with inflation targeting (IT-EMEs): Brazil, Colombia, South Korea and Mexico.Design/methodology/approachThe authors use panel data models with fixed-effects and distributed lags.FindingsThe authors disclosed that sub-national synchronization increased national cycle amplitudes during expansion and recession phases. The authors also noticed that South Korea exhibited a more pronounced effect compared to Latin American countries, and this seemed to be associated with differences in the homogeneity of the production structures in the regions of these countries.Research limitations/implicationsThe authors cautioned that contrasting the findings with prior research on the effects of regional BC synchronization in IT-EMEs or with studies in different geographical contexts, is not possible due to the absence of prior research endeavors with this specific focus.Originality/valueThis study constitutes a first attempt to explain the impact of subnational cycle synchronization on the magnitude of national cycles in four IT-EMEs.

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Regional business cycles in emerging economies: a review of the literature

Cited by 2 publications

References 56 publications

A systematic literature review on business cycle approaches: Measurement, nature, duration

A systematic literature review on business cycle approaches: Measurement, nature, duration

Impact of sub-national synchronization on the behavior of national business cycles in emerging economies with inflation targeting

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