Research ArticleOpen AccessGoogle Scholar indexed
EU Economic Fluctuation Synchronization: Evidence from Five Sample EU Economies
Trans-Himalaya Studies Center, Leshan Normal University, Leshan, China
Trans-Himalaya Studies Center, Leshan Normal University, Leshan, China
- 1 Trans-Himalaya Studies Center, Leshan Normal University, Leshan, China
- 2 Trans-Himalaya Studies Center, Leshan Normal University, Leshan, China
Copy link · social · email
Abstract
This paper, which is based on the five major economies of European Union , France, Germany, Holland, Luxembourg, Sweden and United Kingdom, is dedicated to the empirical analysis on synchronization of economic fluctuation in the European Union (EU). The research conclusions show that during the period spanning from 1971-2016, the synchronization of EU economic fluctuations is significant, while the deepening of regional integration witnesses the gradual enhancement of the synchronization in the EU. Meanwhile, the research also shows that some dis-synchronization has been existing within EU, which indicates the presence of the discordance in EU economic policies and regional cooperative mechanism.
KeywordsEUEconomic FluctuationSynchronization
- Davis, J.S. (2014) Financial Integration and International Business Cycle Co-Movement. Journal of Monetary Economics, 64, 99-111. https://doi.org/10.1016/j.jmoneco.2014.01.007
- Furlanetto, F., Natvik, G.J. and Seneca, M. (2013) Investment Shocks and Macroeconomic Co-Movement. Journal of Macroeconomics, 37, 208-216. https://doi.org/10.1016/j.jmacro.2013.03.005
- Jos Jansen, W. and Stokman, A.C.J. (2014) International Business Cycle Co-Movement: The Role of FDI. Applied Economics, 46, 383-393. https://doi.org/10.1080/00036846.2013.844327
- Song, L.L. and Tan, S.-L. (2011) Business Cycle Co-Movement between Australia and East Asia. Australian Economic Review, 44, 427-436. https://doi.org/10.1111/j.1467-8462.2011.00657.x
- Mathy, G.P. and Meissner, C.M. (2011) Business Cycle Co-Movement: Evidence from the Great Depression. Journal of Monetary Economics, 58, 362-372. https://doi.org/10.1016/j.jmoneco.2011.07.004
- Zhou, Y.M. (2005) World Economic Game Cycle. China Economic Publishing House, Beijing, 32-35.
- Liu, C.Y. (2006) Business Cycle Theory. People’s Publishing House, Beijing, 134.
- Zhang, B. (2006) The Analysis on the Synchronization of Chinese and American Business Cycles and Its Transmission Mechanism. World Economic Studies, 10, 31-38
- Ren, Z.X. (2004) On the Co-Movement between China’s Economic Fluctuations and the World Business Cycle. PhD Dissertation, Zhejiang University, Hangzhou, 9.
- Qin, A.H. (2010) A Preliminary Study on the Convergence of European Business Cycles. European Studies, No. 2, 79-941.
- Sun, J. and Cai, T.J. (2013) A Comparative Analysis of the Economic Changes of the Major EU Countries—Based on the Perspective of Business Cycle. Journal of Beijing Technology and Business University, No. 3, 20-26.
- Jones, J., Collins, N. and Sribnick, L. (2012) External Influences on Business Cycle Synchronization in the Euro Area. International Advances in Economic Research, No. 1, 156-166. https://doi.org/10.1007/s11294-011-9339-7
- Weyerstrass, K., Van Aarle, B., Kappler, M., et al. (2011) Business Cycle Synchronization with (in) the Euro Area. Open Economies Review, No. 3, 86-102.
- Cerqueira, P.A. and Martins, R. (2009) Measuring the Determinants of Business Cycle Synchronization Using a Panel Approach. Economics Letter, 102, 106-108. https://doi.org/10.1016/j.econlet.2008.11.016