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Globalization, Structural Change and International Comovement


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Moynihan Institute of Global Affairs 

Trade, Development and Political Economy presents

Globalization, Structural Change and International Comovement

Authors: Barthélémy Bonadio,  Zhen Huo, Andrei A. Levchenko and Nitya Pandalai-Nayar 

The authors study the roles of globalization and structural change in the evolution of international GDP comovement among OECD countries over the period 1978-2007. In recent decades, trade integration between advanced economies has increased rapidly while business cycle comovement has remained stable. The authors show that structural change - trend reallocation of economic activity towards services - plays an important part in solving this apparent puzzle. 

Nitya Pandalai Nayar 

Assistant Professor of Economics

University of Texas

Nitya Pandalai-Nayar is Assistant Professor of Economics at the University of Texas – Austin and Faculty Research Fellow at the National Bureau of Economic Research. Her areas of specialization are International Trade and International Finance. She works on globalization and structural change, global value chains, offshoring, and the international transmission of business cycles. Her work has been published in prestigious economics journals like the Review of Economics & Statistics, Journal of the European Economic Association and the Journal of International Economics. She holds a PhD in Economics from the University of Michigan.

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