IDEAS home Printed from
   My bibliography  Save this article

Business cycle synchronization between Central and Eastern European countries and the Euro Zone


  • Bogdan MURARAȘU

    (Bucharest University of Economic Studies, Romania)

  • Alina BOBAȘU

    (Bucharest University of Economic Studies, Romania)


This paper assesses the degree of business cycle synchronization between a group of Central and Eastern European (CEE) emerging economies and the Euro Zone in the context of the integration in the monetary union. The investigation is important in light of euro area integration of new member states, as well as for providing policy recommendations with respect to mitigation of macroeconomic fluctuation transmission. Therefore a very complex analysis must be conducted in terms of costs and benefits, both from the view of the candidate as well as from the monetary union’s perspective. The results point towards a high degree of correlation with Euro Zone in terms of business cycle for some emerging economies in the Central and East Europe, like the Czech Republic and Hungary, while Romania seems to be among the countries least correlated. Nevertheless, the countries seem to have experienced a high degree of correlation during the crisis, especially when the turbulent economic developments reached their peak.

Suggested Citation

  • Bogdan MURARAȘU & Alina BOBAȘU, 2015. "Business cycle synchronization between Central and Eastern European countries and the Euro Zone," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(Special(I), pages 292-303.
  • Handle: RePEc:agr:journl:v:xxii:y:2015:i:special(ii):p:292-303

    Download full text from publisher

    File URL:
    Download Restriction: no


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:agr:journl:v:xxii:y:2015:i:special(ii):p:292-303. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marin Dinu). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.