A FEW REGRESSIONS ONBUSINESS CYCLE SYNCHRONIZATION BETWEEN THENEW MEMBER STATES AND THE EURO AREA

Ivan Todorov and Nikolay Patonov

Economics and Management, 2012, vol. 8, issue 2, 9-22

Abstract: This investigation uses panel data to measure the effects of financial integration, trade and specialization on business cycle convergence between the new member states outside the Europe area. Some of our empirical results agree with economic theory and some do not. We attempt to put an emphasis on the empirical results that are not in accordance with the theory predictions and find an appropriate explanation for them. Section 2 reviews literature and gives some recent data. Section 3 represents the data and methodology used and interprets the results. Section 4 draws conclusions.

Keywords: Trade; financial integration; specialization; business cycle synchronization; new member states; Euro area (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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