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Abstract

We review previous research on China’s business cycle correlation with other economies applying meta-analysis. We survey 71 papers analyzing the different periods of Chinese economic development since 1950s which were published in English or Chinese. We confirm that especially Pacific Rim economies have relatively high business cycle correlation with China. It appears that many characteristics of the studies and authors influence the reported degree of business cycle synchronization. For instance, Chinese-language papers report higher correlation coefficients. Despite of this, we do not detect a robust publication bias in the papers.

Moreover, we show that the broad evidence does not confirm the popular decoupling hypothesis.