Artículos de revistas
Measuring global economic interdependence: a hierarchical network approach
Fecha
2013-07Registro en:
Matesanz Gómez, David; Torgler, Benno; Ortega, Guillermo José; Measuring global economic interdependence: a hierarchical network approach; Wiley; The World Economy; 36; 12; 7-2013; 1632-1648
1467-9701
CONICET Digital
CONICET
Autor
Matesanz Gómez, David
Torgler, Benno
Ortega, Guillermo José
Resumen
This paper investigates the business cycle co-movement across countries and regions since 1950 as a measure for quantifying the economic interdependence in the ongoing globalisation process. Our methodological approach is based on analysis of a correlation matrix and the networks it contains. Such an approach summarises the interaction and interdependence of all elements, and it represents a more accurate measure of the global interdependence involved in an economic system. Our results show (1) the dynamics of interdependence has been driven more by synchronisation in regional growth patterns than by the synchronisation of the world economy, and (2) world crisis periods dramatically increase the global co-movement in the world economy.