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Abstract A panel vector autoregression (VAR) model is employed to estimate whether growth shocks from the United States (US), China, Japan, and the European Union (EU) can be transferred to selected Asian countries. We examine 1) the effect of shocks through five channels: international trade, monetary policy, finance, global uncertainty, and oil prices; 2) whether a country’s deeper integration with the global value chain (GVC) enhances or decreases the effect of growth shocks from major economies more intensively than trade openness. We found evidence of the shock transfer from major economies to Asia through the five channels. The impact differs across countries depending on their participation in GVC; for example, the impact is high in Indonesia and low in South Korea. Moreover, Asian countries are more exposed to trade shocks through China’s trade channel than other major economies. Zooming in on the channels’ impacts, global uncertainty affects countries’ growth (e.g., Indonesia) more significantly than other channels (i.e., GVC); and Asian countries respond positively to oil prices in the short run but negatively in the long run. Downloads Download data is not yet available. Downloads FULL TEXT Published 2023-01-22 How to Cite Hendrati, I. M., Heriqbaldi, U., Esquivias, M. A., Setyorani, B., & Jayanti, A. D. (2023). Propagation of Economic Shocks from the United States, China, the European Union, and Japan to Selected Asian Economies: Does the Global Value Chain Matters?. International Journal of Energy Economics and Policy, 13(1), 91–102. https://doi.org/10.32479/ijeep.13789 More Citation Formats ACM ACS APA ABNT Chicago Harvard IEEE MLA Turabian Vancouver Download Citation Endnote/Zotero/Mendeley (RIS) BibTeX Issue Vol. 13 No. 1 (2023) Section Articles License Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Most read articles by the same author(s) Abdul Rahim Ridzuan, Bayu Arie Fianto, Miguel Angel Esquivias, Vikniswari Vija Kumaran, Mohd Shahidan Shaari, Aliashim Albani, Do Financial Development and Trade Liberalization Influence Environmental Quality in Indonesia? Evidence-based on ARDL Model , International Journal of Energy Economics and Policy: Vol. 12 No. 5 (2022) Abdul Rahim Ridzuan, Vikniswari Vija Kumaran, Bayu Arie Fianto, Mohd Shahidan Shaari, Miguel Angel Esquivias, Aliashim Albani, Reinvestigating the Presence of Environmental Kuznets Curve in Malaysia: The Role of Foreign Direct Investment , International Journal of Energy Economics and Policy: Vol. 12 No. 5 (2022) Ranti Darwin, Dyah Wulan Sari, Unggul Heriqbaldi, Dynamic Linkages between Energy Consumption, Foreign Direct Investment, and Economic Growth: A New Insight from Developing Countries in Asia , International Journal of Energy Economics and Policy: Vol. 12 No. 6 (2022) Miguel Angel Esquivias, Owais ibni Hassan, Aisha Sheikh, Evidence-based Examination of the Consequences of Financial Development on Environmental Degradation in the Indian Setting, Using the ARDL Model , International Journal of Energy Economics and Policy: Vol. 13 No. 1 (2023) Make a Submission Make a Submission Dergi Kapağı

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