资源环境科技发展态势分析平台

This paper examines how economic growth and growth volatility are associated with internal and external shocks, as well as shock spillovers from trade partners, taking into account the country’s economic institutions and fundamentals. It finds that the associations of growth, volatility, shocks, institutions, and macro fundamentals have changed in important ways after the recent global financial crisis. In particular, gross domestic product growth across countries has become more dependent on external factors, including global growth, global oil prices, and global financial volatility.