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Integrating in the EU or in the World?

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  • Urziceanu Ramona-Mihaela

    () (“Agora” University of Oradea)

Abstract

Economic theory suggests that the degree of cyclical synchronisation is related to the degree of economic integration and structural similarity between countries. In gauging changes in the synchronisation of countries’ business cycles and the underlying driving factors, it is important to distinguish EU/specific developments from worldwide integration tendencies, i.e. globalisation. The effects of goods and capital market integration on business cycle synchronisation are theoretically ambiguous. The net effect is composed of a synchronisation-enhancing effect on the demand side of the economy, and a synchronisation-diminishing effect on the supply side resulting from increased incentives for specialisation.

Suggested Citation

  • Urziceanu Ramona-Mihaela, 2010. "Integrating in the EU or in the World?," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 837-842, May.
  • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:837-842
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    More about this item

    Keywords

    economic integration; business cycles; synchronisation-enhancing effect; synchronisation-diminishing effect;

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E39 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Other
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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