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The Effect of Trade, Specialization and Financial Integration on Business Cycles Synchronization in Some Mediterranean Countries

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  • Nabil Alimi

Abstract

The aim of this paper is to study if bilateral trade, similarity of specialization and capital flows between some Mediterranean countries (Egypt, Morocco, Tunisia and Turkey) and their main European partners (Germany, France and Italy) have an impact on Business cycles synchronization. Using the system Generalized Method of Moments (GMM) for dynamic panel over the period of 1980 to 2010, the study found a positive relationship between bilateral trade and similarity of specialization on one hand and business cycle correlation on the other hand. However, financial flows remain without significant effect on business cycle synchronization.

Suggested Citation

  • Nabil Alimi, 2015. "The Effect of Trade, Specialization and Financial Integration on Business Cycles Synchronization in Some Mediterranean Countries," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(1), pages 110-118.
    • Handle: RePEc:asi:aeafrj:v:5:y:2015:i:1:p:110-118:id:1324
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    Cited by:

    1. Rémi Odry & Roman Mestre, 2021. "Monetary Policy and Business Cycle Synchronization in Europe," EconomiX Working Papers 2021-19, University of Paris Nanterre, EconomiX.
    2. Solomon Abayomi Olakojo, 2018. "Foreign Trade and International Financial Flows: Implications for Economic Stability in the Selected ECOWAS Countries," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 22(1), pages 63-103, Winter.
    3. Nabil ALIMI, 2016. "The Effect Of Economic Freedom On Business Cycle Volatility: Case Of Developing Countries," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 43, pages 139-158.
    4. Beck, Krzysztof, 2021. "Why business cycles diverge? Structural evidence from the European Union," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    5. Krzysztof Beck, 2022. "Macroeconomic policy coordination and the European business cycle: Accounting for model uncertainty and reverse causality," Bulletin of Economic Research, Wiley Blackwell, vol. 74(4), pages 1095-1114, October.

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