The transmission of international shocks to CIS economies : A Global VAR approach

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dc.contributor Bank of Finland Faryna, Oleksandr Simola, Heli 2018-08-31T13:34:30Z 2018-08-31T13:34:30Z 2018
dc.identifier.isbn 978-952-323-239-6
dc.identifier.issn 1456-5889
dc.description.abstract This paper employs a Global Vector Auto Regressive (GVAR) model to study the evolution of the response of the Commonwealth of Independent States (CIS) to foreign output and oil price shocks. During a two-decade observation period, cross-country trade and financial linkages experience no-table changes. We find CIS countries highly sensitive to global and regional shocks, with that sensitivity increasing after the global financial crisis. CIS countries show strongest responses to output shocks originating in the US, Russia and within the region itself, but their sensitivity to euro area shocks also increases substantially. Despite growing trade relations with China, the responses of CIS countries to output shocks originating in China are still relatively moderate.
dc.format.extent 47
dc.language.iso ENG
dc.subject Bofit-kokoelma
dc.subject SP
dc.subject RP ST
dc.subject.other international shocks
dc.subject.other cross-country spillovers
dc.subject.other CIS
dc.subject.other Global VAR
dc.title The transmission of international shocks to CIS economies : A Global VAR approach
dc.type Paper
dc.identifier.urn URN:NBN:fi:bof-201808311997
dc.subject.jel C32
dc.subject.jel F42
dc.subject.jel F43
dc.subject.jel E32 BOFIT Discussion Papers
dc.series.year 2018
dc.series.number 17/2018
dc.series.sortingnumber 0017 30.8.2018
dc.subject.yso häiriöt
dc.subject.yso ulkomaankauppa
dc.subject.yso öljy
dc.subject.yso hinnat
dc.subject.yso IVY-maat
dc.subject.yso tuotanto
dc.subject.yso mallit
dc.identifier.doi /10.1016/j.ecosys.2020.100769
dc.contributor.orgunit Institute for Economies in Transition (BOFIT)
dc.description.publication Published in Economic Systems, Volume 45, Issue 2, June 2021, 100769
bof-internal.includedInCRIS 1
dc.type.okm D4

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