Series: IMF Working Papers
Author(s): Eswar Prasad , Marco Terrones , and Ayhan Kose
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2005
Keywords: international trade and financial linkages, macroeconomic volatility and growth, trade integration, financial integration, trade openness, Open Economy Macroeconomics, Financial Aspects of Economic Integration,
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom-that output volatility and growth are negatively correlated. We reexamine...