GLOBALIZATION VERSUS SEGREGATION - BUSINESS CYCLES SYNCHRONIZATION IN EUROPE

Sebastian Florian Enea () and Silvia Palaºcã ()
Additional contact information
Sebastian Florian Enea: Alexandru Ioan Cuza University of Iasi, Romania
Silvia Palaºcã: Alexandru Ioan Cuza University of Iasi, Romania

CES Working Papers, 2012, vol. 4(4), issue 4, 668-692

Abstract: Globalization and business cycles are equally elusive economic phenomena; hence they represent a continuous research possibility and a source of possible inquiries due to their complex nature. The aim of the paper is to explain the synchronization of business cycles using the relationship between the growth rate of the GDP and FDI, considered as percentage of the GDP. The results show that there is no unique European business cycle, but two cores between which countries migrate and stress out the importance of the FDI channel in business cycle transmission. The future research d irections will employ fuzzy cluster techniques, used on a larger sample.

Keywords: real convergence; financial convergence; economic and financial crises; EMU Romania (search for similar items in EconPapers)
JEL-codes: E32 E37 F21 F44 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://ceswp.uaic.ro/articles/CESWP2012_IV4_ENE.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jes:wpaper:y:2012:v:4:i:4:p:668-692

Access Statistics for this article

More articles in CES Working Papers from Centre for European Studies, Alexandru Ioan Cuza University Contact information at EDIRC.
Bibliographic data for series maintained by Alupului Ciprian ().