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Business Cycles in Central and East European Countries

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  • TIMOTEJ JAGRIC

Abstract

The article studies the properties of business cycles in seven Central and East European countries (CEEC-7). The properties are compared using multivariate wavelet analysis. The evidence of the study suggests that the length of the business cycles in the CEEC-7 is gradually decreasing to the business cycle length of the Organization for Economic Cooperation and Development, and volatility seems to decline after transformation depression. From the viewpoint of synchronization between the European Union (EU) and the CEEC-7, the study suggests three groups of countries. More synchronization is found in countries where greater internationalization of enterprises and greater product and financial market linkages to EU markets are present.

Suggested Citation

  • Timotej Jagric, 2003. "Business Cycles in Central and East European Countries," Eastern European Economics, Taylor & Francis Journals, vol. 41(5), pages 6-23, January.
    • Handle: RePEc:mes:eaeuec:v:41:y:2003:i:5:p:6-23
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    Citations

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    Cited by:

    1. Karlo Kauko & Eero Tölö, 2019. "Banking Crisis Prediction with Differenced Relative Credit," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot GmbH, Berlin, vol. 65(4), pages 277-297.
    2. Cifter, Atilla & Yilmazer, Sait & Cifter, Elif, 2009. "Analysis of sectoral credit default cycle dependency with wavelet networks: Evidence from Turkey," Economic Modelling, Elsevier, vol. 26(6), pages 1382-1388, November.
    3. Sandrine Levasseur, 2004. "Why not euroisation?," Revue de l'OFCE, Presses de Sciences-Po, vol. 91(5), pages 121-156.
    4. Lu Han & Ruihuan Ge, 2017. "Wavelets Analysis on Structural Model for Default Prediction," Computational Economics, Springer;Society for Computational Economics, vol. 50(1), pages 111-140, June.
    5. repec:spo:wpmain:info:hdl:2441/3361 is not listed on IDEAS
    6. Darek Klonowski, 2005. "The Evolution of the Venture Capital Industry in Transition Economies: The Case of Poland," Post-Communist Economies, Taylor & Francis Journals, vol. 17(3), pages 331-348.
    7. repec:spo:wpecon:info:hdl:2441/3361 is not listed on IDEAS
    8. Yu Hsing, 2005. "Impacts of macroeconomic policies on the Latvian output and policy implications," Applied Economics Letters, Taylor & Francis Journals, vol. 12(8), pages 467-471.
    9. Yousefi, Shahriar & Weinreich, Ilona & Reinarz, Dominik, 2005. "Wavelet-based prediction of oil prices," Chaos, Solitons & Fractals, Elsevier, vol. 25(2), pages 265-275.
    10. Chiara Perricone, 2018. "Wavelet analysis for temporal disaggregation," CEIS Research Paper 444, Tor Vergata University, CEIS, revised 29 Oct 2018.
    11. repec:hal:wpspec:info:hdl:2441/3361 is not listed on IDEAS
    12. repec:hal:spmain:info:hdl:2441/3361 is not listed on IDEAS
    13. Prevodnik Mojca & Biloslavo Roberto, 2009. "Managers and Leaders in Organizations of a Post-transition Economy," Organizacija, Sciendo, vol. 42(3), pages 87-94, May.
    14. RNuket Kirci Cevik & Sel Dibooglu & Ali M. Kutan, 2016. "Real and Financial Sector Studies in Central and Eastern Europe: A Review," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 66(1), pages 2-31, February.

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