Macroeconomic interdependence in East Asia

摘要: Abstract This paper analyzes macroeconomic interdependence among 10 Asian economies. In this connection, we decompose their activities (real GDP) into common and country-specific components using the Bai–Ng method (2004). Our results suggest first that both are non-stationary have permanent effects on overall economy. Second, find relative importance of factors in all countries terms contribution to variations real GDP. But evidence is also obtained for becoming increasingly important like China recent years. Therefore, if, example, expected grow at a fast pace future, our findings imply creation regional monetary union these needs be held back until Chinese economy has become more dominant region.