Do Institutions and Culture Matter for Business Cycles?
AbstractWe examine the relationship between institutions, culture and cyclical fluctuations for a sample of 45 European, Middle Eastern and North African countries. Better governance is associated with shorter and less severe contractions and milder expansions. Certain cultural traits, such as lack of acceptance of power distance and individualism, are also linked business cycle features. Business cycle synchronization is tightly related to similarities in the institutional environment. Mediterranean countries conform to these general tendencies.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Koc University-TUSIAD Economic Research Forum in its series Koç University-TUSIAD Economic Research Forum Working Papers with number 1217.
Length: 35 pages
Date of creation: Jun 2012
Date of revision:
Business cycles; institutions; culture; Mediterranean countries; synchronization.;
Other versions of this item:
- Sumru Altug & Fabio Canova, 2012. "Do Institutions and Culture Matter for Business Cycles?," Working Papers 627, Barcelona Graduate School of Economics.
- Sumru Altug & Fabio Canova, 2012. "Do institutions and culture matter for business cycles?," Economics Working Papers 1314, Department of Economics and Business, Universitat Pompeu Fabra.
- Altug, Sumru G. & Canova, Fabio, 2013. "Do Institutions and Culture Matter for Business Cycles?," CEPR Discussion Papers 9382, C.E.P.R. Discussion Papers.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-06-25 (All new papers)
- NEP-ARA-2012-06-25 (MENA - Middle East & North Africa)
- NEP-BEC-2012-06-25 (Business Economics)
- NEP-MAC-2012-06-25 (Macroeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bernard Laurens & Martin Sommer & Marco Arnone & Jean-FranÃ§ois Segalotto, 2007.
"Central Bank Autonomy: Lessons from Global Trends,"
IMF Working Papers
07/88, International Monetary Fund.
- Sumru Altug & Bilin Neyapti & Mustafa Emin, 2012.
"Institutions and Business Cycles,"
Wiley Blackwell, vol. 15(3), pages 347-366, December.
- Sumru Altug & Mustafa Emin & Bilin Neyapti, 2011. "Institutions and Business Cycles," KoÃ§ University-TUSIAD Economic Research Forum Working Papers 1109, Koc University-TUSIAD Economic Research Forum.
- Altug, Sumru G. & Emin, Mustafa & Neyapti, Bilin, 2012. "Institutions and Business Cycles," CEPR Discussion Papers 8728, C.E.P.R. Discussion Papers.
- Adrian Pagan & Don Harding, 2005. "A suggested framework for classifying the modes of cycle research," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 20(2), pages 151-159.
- Harding, Don & Pagan, Adrian, 2006. "Synchronization of cycles," Journal of Econometrics, Elsevier, vol. 132(1), pages 59-79, May.
- Rachel Male, 2010. "Developing Country Business Cycles: Characterising the Cycle," Working Papers 663, Queen Mary, University of London, School of Economics and Finance.
- Rand, John & Tarp, Finn, 2002. "Business Cycles in Developing Countries: Are They Different?," World Development, Elsevier, vol. 30(12), pages 2071-2088, December.
- Sumru Altug & Melike Bildirici, 2012. "Business Cycles in Developed and Emerging Economies: Evidence from a Univariate Markov Switching Approach," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 48(6), pages 4-38, November.
- Eric Girardin, 2005. "Growth-cycle features of East Asian countries: are they similar?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 10(2), pages 143-156.
- Canova, Fabio & Dallari, Pietro, 2013. "How important is tourism for the international transmission of cyclical fluctuations? Evidence from the Mediterranean," Working Paper Series 1553, European Central Bank.
- Altug, Sumru & Tan, Barış & Gencer, Gözde, 2012.
"Cyclical dynamics of industrial production and employment: Markov chain-based estimates and tests,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 36(10), pages 1534-1550.
- Sumru Altug & Baris Tan & Gozde Gencer, 2011. "Cyclical Dynamics of Industrial Production and Employment: Markov Chain-based Estimates and Tests," KoÃ§ University-TUSIAD Economic Research Forum Working Papers 1101, Koc University-TUSIAD Economic Research Forum.
- Fabio Canova & Matteo Ciccarelli, 2011.
"ClubMed Cyclical Fluctuations in the Mediterranean Basin,"
532, Barcelona Graduate School of Economics.
- Canova, Fabio & Ciccarelli, Matteo, 2012. "ClubMed? Cyclical fluctuations in the Mediterranean basin," Journal of International Economics, Elsevier, vol. 88(1), pages 162-175.
- Fabio Canova & Matteo Ciccarelli, 2011. "ClubMed? Cyclical fluctuations in the Mediterranean basin," Economics Working Papers 1258, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2012.
- Dirk Bursian & Alfons Weichenrieder & Jochen Zimmer, 2013. "Trust in Government and Fiscal Adjustments," CESifo Working Paper Series 4310, CESifo Group Munich.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sumru Oz).
If references are entirely missing, you can add them using this form.