Business Cycles in European Post-Communist Countries

• Autorzy: Karol Szomolányi , Martin Lukáčik , Adriana Lukáčiková
• Języki publikacji: EN

Abstrakty

EN

The European post-communist countries that have integrated into the European Union are emerging market economies. However, their short-run economic performance does not correspond to the observed business cycles of other global emerging markets. The business cycles of the studied countries are longer, and their recessions are more pronounced. Moreover, economic activity in the studied countries is relatively low and volatile, and the trade balance and government purchases have a relatively significant countercyclical character. These are the core conclusions from our business cycle study of the chosen European post-communist countries. In the study, we use both traditional and contemporary business cycle definitions. Using traditional definitions, we determine the peaks, troughs, expansions and contractions and quantify the durations and amplitudes of their expansions, recessions and business cycles. Using contemporary definitions, we measure cyclical properties by computing the first and second moments of the chosen macroeconomic cyclical components and growth rates. Differences in the business cycles and characteristics between European post-communist countries and other emerging countries are discussed with reference to the works of other authors. (original abstract)

Słowa kluczowe

EN

Business cycles; Emerging markets; Post-communist countries

PL

Cykl koniunkturalny; Rynki wschodzące; Kraje postkomunistyczne

• Czasopismo: Contemporary Economics
• Rocznik: 2017
• Tom: 11
• Numer: nr 2
• Strony: 171--185

Twórcy

autor

Karol Szomolányi

• University of Economics in Bratislava, Slovakia

autor

Martin Lukáčik

• University of Economics in Bratislava, Slovakia

autor

Adriana Lukáčiková

• University of Economics in Bratislava, Slovakia

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Identyfikatory

DOI

10.5709/ce.1897-9254.235