Advanced and emerging markets diverging
In the period of globalisation from 1985 to 2005 there has been convergence of business cycles within industrial economies and within the emerging-markets, but a decoupling between them, finds a new paper from the International Monetary Fund.
The authors note that these findings should not be interpreted as "a blanket endorsement of the decoupling hypothesis in the context of recent discussions about the possible spillover effects of a US recession," as the study focuses on macroeconomic
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