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European Economies Facing The Global Financial Crisis: Are Emerging Economies More Vulnerable Than Advanced Ones?

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  • CIMPOERU Smaranda

    (Bucharest University of Economic Studies, Romania)

Abstract

The global financial crisis has arouse many research questions regarding causes, effects and necessary policy measures. This paper tries to answer the question whether advanced and emerging European economies have been equally affected by the global financial crisis from 2007. We apply a cluster analysis for two periods (pre and post crisis), on a set of four leading indicators as suggested by the specialty literature and find four clusters of European economies. The differences of structure between the two groups of clusters may suggest that advanced economies are as much as vulnerable to a financial crisis situation as emerging economies.

Suggested Citation

  • CIMPOERU Smaranda, 2016. "European Economies Facing The Global Financial Crisis: Are Emerging Economies More Vulnerable Than Advanced Ones?," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 68(2), pages 69-85, September.
    • Handle: RePEc:blg:reveco:v:68:y:2016:i:2:p:69-85
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    financial crisis; crisis leading indicators; cluster analysis; global crisis effects;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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