Cyclical Fluctuations in CIS Economies

Peter Benczur, Emin Muradov () and Attila Rátfai

Journal of Business Cycle Measurement and Analysis, 2007, vol. 2007, issue 1, 121-135

Abstract: This paper documents a number of stylized facts of quarterly frequency cyclical fluctuations in a specific group of developing economies, previously belonging to the same country organization, the former Soviet Union. We find that in these countries (1) fluctuations are in general less persistent than elsewhere; (2) private consumption is extremely volatile; (3) net exports are procyclical and persistent in commodity exporter countries; (4) government consumption is a very important, dominantly procyclical determinant of output; (5) Belarus, Russia, Ukraine, and to a smaller degree, Kazakhstan and Moldova are surprisingly similar in the behavior of their GDP components, industrial production and certain nominal variables; (6) there is mixed evidence regarding the dominance of supply versus demand shocks.

Keywords: Business Cycle Facts; Historical Origin; Commonwealth of Independent States (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (2)

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