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Erschienen in:
2015 | OriginalPaper | Buchkapitel
1. Introduction
verfasst von : Antonio Pesce
Erschienen in: Economic Cycles in Emerging and Advanced Countries
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Abstract
Nowadays the Emerging Economies (EEs) are playing an increasingly important role in the international economic scenario. In the last decades, from the economic point of view, their importance has grown in several respects: for example, they have become much more relevant in terms of direct foreign investment and portfolio investment, the quantity of monetary reserves held, and in terms of their shares in international trade and financial transactions. This evidence reinforced the controversial idea known as the “decoupling hypothesis”, whereby EEs have become less dependent on the economic trends of Advanced Economies (AEs).
This book, by using a new empirical investigation approach, contributes to the debate on the “decoupling hypothesis” by addressing the following main questions: “Has the EEs' vulnerability to external shocks (both real and credit shocks) coming from AEs changed over time? If so, has it grown? or has it decreased as the decoupling hypothesis claims?”.