The Impact of a People’s Republic of China Slowdown on Commodity Prices and Detecting the Asymmetric Responses of Economic Activity in Asian Countries to Commodity Price Shocks
Publication | July 2016
Adopting a structural dynamic regression and censoring positive and negative shocks, findings suggest limited evidence of any asymmetric response of economic activity to positive and negative commodity price shocks.
This study carries out the analysis in two parts. First, noting the fact that commodity prices are characterized by structural breaks, a model based on a Flexible Fourier Form is employed to study the causal relations between a slowdown in the People’s Republic of China and different commodity prices. The second part investigates whether the response of emerging and developing Asian countries to a positive or negative shock is significantly different.
Contents
- Introduction
- Literature Review
- Econometric Model
- Data and Empirical Results
- Conclusion
- Appendix
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