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经济全球化使世界经济紧密联系在一起,各国经济也更易受到外部经济冲击的影响。本文考察了美国经济波动对东亚8个开放经济体的影响,结果显示,东亚经济大约有18%的波动来源于美国经济的冲击,这主要是因为美国和东亚保持着紧密的贸易和金融联系。由于各经济体在经济总量、汇率制度安排等方面的差异,造成受美国经济波动的影响也不相同。总体看,这些冲击持续的时间大约在15个季度。
Economic globalization has brought the world economy together and the economies of various countries are also more vulnerable to external economic shocks. This article examines the impact of US economic fluctuations on eight open economies in East Asia and shows that about 18% of the fluctuations in East Asia’s economy come from the impact of the U.S. economy mainly because the United States and East Asia maintain close trade and financial ties. Due to the differences in economic aggregates, exchange rate system arrangements, etc., the economies affected by the U.S. economic fluctuations are also different. Overall, these shocks last about 15 quarters.