Economic Integration and Regional Business Cycles: Evidence from the Iberian regions
AbstractThe present paper provides evidence on the impact of economic integration on EU regions' business cycles convergence by focusing on the Spanish and Portuguese experiences. We use quarterly as well as annual series on employment growth to show that the EU integration process has had a positive and significant influence on Iberian regional cycles' correlation. Econometric evidence suggests that the economic size of regions and their respective industrial structure can explain a substantial proportion of regional cycles. We also find that the estimates differ depending on the frequency of the data used. Both the border effect and industrial specialisation seem to have greater influence on the pattern of economic co-fluctuations when using annual rather than quarterly series.
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- BARRIOS, Salvador & DE LUCIO, Juan José, . "Economic integration and regional business cycles: evidence from the Iberian regions," CORE Discussion Papers RP -1655, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- BARRIOS, Salvador & de LUCIO, Juan José, 2002. "Economic integration and regional business cycles: Evidence from the Iberian regions," CORE Discussion Papers 2002073, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- F15 - International Economics - - Trade - - - Economic Integration
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-12-04 (All new papers)
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