Financial Integration and Economic Synchronisation (Theoretical Analysis)

Iliya Kutsarov ()
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Iliya Kutsarov: University of National and World Economy, Sofia, Bulgaria

Nauchni trudove, 2019, issue 5, 339-349

Abstract: This study examines various mechanisms for the linkage between financial integration and business cycle synchronization. The present study advocates that changes in capital demand lead to divergence while shocks in the integrated financial system cause synchronization. Based on this differentiation the study derives indicators that determine the tendency for synchronization or divergence.

Keywords: financial integration; business cycles synchronization; business cycles divergence (search for similar items in EconPapers)
JEL-codes: E62 E63 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:natrud:y:2019:i:5:p:339-349

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