University of Pretoria Department of Economics Working Paper Series Time-Varying Spillover of US Trade War on the Growth of Emerging Economies Oguzhan Cepni Central Bank of the Republic of Turkey David Gabauer Webster Vienna Private University Rangan Gupta University of Pretoria Khuliso Ramabulana University of Pretoria Working Paper: 2020-02 January 2020 __________________________________________________________ Department of Economics University of Pretoria 0002, Pretoria South Africa Tel: +27 12 420 2413