期刊名称：South-Eastern Europe Journal of Economics (SEEJE)
印刷版ISSN：1109-8597
电子版ISSN：1792-3115
出版年度：2019
卷号：17
期号：2
页码：175-191
出版社：Association of Economic Universities of South and Eastern Europe and the Black Sea Region
摘要：The aim of the paper is to analyse business cycle synchronisation patterns thatthe countries of the CESEE region have in relation to the original 12 Euro areamember states. We focus on the turbulent times entailed in the latest economiccrisis in order to examine whether the synchronisation patterns for the group ofcountries that have already established closer links to the EU differ from thosein the countries pursuing the same path. Our analysis rests on the three wellestablishedchannelsof business cycle synchronisation: trade, financial integrationand sectoral specialisation.Given that the latest economic crisis was causedand transmitted by financial markets, we focus more on financial integrationindicators.The results suggest that the synchronisation patterns differ betweenthe two groups of countriesand that the financial integration channel is importantfor the CEE countries, while synchronisation for the SEE countries is supportedby the trade channel.
关键词：Business Cycle Synchronisation; Determinants; Central; Eastern and;South-Eastern Europe
