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Empirical Analysis of Business Cycle Synchronization and Shock Similarity Between Romania and the Eurozone

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  • Elena Bojeşteanu Bobeica
  • Ana Simona Manu

Abstract

The paper aims to evaluate the degree of business cycle synchronization and the similarity of production structures between Romania and the eurozone, drawing a comparison with other new member states. Although there has been significant progress, business cycle correlation with the eurozone is still lower in Romania than in other regional peers. Moreover, the empirical evidence regarding the similarity of production structures reveals a widening gap vis-à-vis the eurozone during the transition period. The results suggest that it is less advisable for Romania to join the eurozone than for other countries in Central and Eastern Europe.

Suggested Citation

  • Elena Bojeşteanu Bobeica & Ana Simona Manu, 2013. "Empirical Analysis of Business Cycle Synchronization and Shock Similarity Between Romania and the Eurozone," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 49(4), pages 74-97, July.
    • Handle: RePEc:mes:emfitr:v:49:y:2013:i:4:p:74-97
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    Cited by:

    1. Tudor Mugurel Aursulesei & Liviu - George Maha, 2020. "Dysfunctions Of The European Monetary Union," Junior Scientific Researcher, SC Research Publishing SRL, vol. 6(1), pages 82-91, May.
    2. 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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