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.
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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:
- Altug, Sumru G. & Canova, Fabio, 2013. "Do Institutions and Culture Matter for Business Cycles?," CEPR Discussion Papers 9382, C.E.P.R. Discussion Papers.
- 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.
- 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 (Arab World)
- 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.:
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- Sumru Altug & Bilin Neyapti & Mustafa Emin, 2012.
"Institutions and Business Cycles,"
Wiley Blackwell, vol. 15(3), pages 347-366, December.
- Altug, Sumru G. & Emin, Mustafa & Neyapti, Bilin, 2012. "Institutions and Business Cycles," CEPR Discussion Papers 8728, C.E.P.R. Discussion Papers.
- 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.
- 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.
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