Business Cycle Synchronization in the Enlarged EU

Business Cycle Synchronization in the Enlarged EU
Author: Dimitrios Asteriou
Publisher:
Total Pages: 0
Release: 2015
Genre:
ISBN:
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The aim of this paper is to investigate the determinants of business cycle (BC) synchronization across 21 (old and new) countries of the enlarged European Union (EU). It utilizes international data to evaluate the linkages among bilateral trade in goods, bilateral foreign direct investment (FDI) flows and BC co-movements. The paper contributes to the current literature by examining the relationship using the latest available data (sample range: 1998-2011), and thus taking into account the European sovereign debt crisis period. It also examines the role of FDI, which though increasingly important in the flows of international production factors, is currently neglected by the literature. Preliminary results show that FDI has no direct effect on BC synchronization while international trade helps to synchronize BCs but only before the recent financial crisis (pre-2008) and only for the traditional EU countries.

Business Cycle Synchronisation and Economic Integration

Business Cycle Synchronisation and Economic Integration
Author: Marcus Kappler
Publisher: Springer Science & Business Media
Total Pages: 197
Release: 2012-07-30
Genre: Business & Economics
ISBN: 3790828556
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This book offers the reader a state-of-the-art overview on theory and empirics of business cycle synchronisation, structural reform and economic integration. Focusing on the ongoing integration process in the euro area and the EU, it analyses the integration process that has taken place since the 1980s and which is marked by the advent of the euro and the substantial enlargement that resulted from the accession of 12 new Member States in East and Southern Europe.

Business Cycles Syncronaziation in Europe

Business Cycles Syncronaziation in Europe
Author: Silvia Palasca
Publisher: GRIN Verlag
Total Pages: 15
Release: 2013-06-05
Genre: Business & Economics
ISBN: 3656443033
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Essay from the year 2013 in the subject Economics - Monetary theory and policy, Alexandru Ioan Cuza University of Iasi, language: English, abstract: The European Union sets the premises for the appearance of a new phenomenon in the global economic setting: the synchronization of the national business cycles. The aim of this article is to statistically prove the existence of a Euro are business cycle through the study of a classic indicator- the annual change of the GDP and also through the use of foreign trade indicators-the annual changes in exports in imports. Also, it is important, at the end, to choose the best of these indicators or a combination thereof to use as a benchmark for further studies. The empiric study is useful to classify the European countries in clusters according to synchronization, a first step in adopting common policies.

Regional Business-Cycle Synchronization, Sector Specialization and EU Accession

Regional Business-Cycle Synchronization, Sector Specialization and EU Accession
Author: Jürgen Bierbaumer-Polly
Publisher:
Total Pages: 0
Release: 2016
Genre:
ISBN:
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We examine the effects of Eastern and Northern enlargement of the EU on regional business-cycle synchronization and sector specialization. Difference-in-difference estimates show that cyclical synchronicity decreased and differences in sector structure increased in acceding region-pairs after Eastern enlargement. For Northern enlargement, results are more ambiguous. Moreover, in both enlargement episodes, region-pairs with highly synchronous business cycles before accession experienced weaker cyclical and structural convergence than region-pairs with less synchronous cycles. Likewise, region-pairs with more similar sector structures before accession experienced stronger divergence (or weaker convergence) of structural similarity and business-cycle synchronicity after the enlargement. We argue that these results call for developing more differentiated hypotheses on EU enlargement's effects on business-cycle synchronization and sector specialization.