THE EFFECT OF TRADE, SPECIALIZATION AND FINANCIAL INTEGRATION ON BUSINESS CYCLES SYNCHRONIZATION IN SOME MEDITERRANEAN COUNTRIES
Journal Title: Asian Economic and Financial Review - Year 2015, Vol 5, Issue 1
Abstract
The aim of this paper is to study if bilateral trade, similarity of specialization and capital flows between some Mediterranean countries (Egypt, Morocco, Tunisia and Turkey) and their main European partners (Germany, France and Italy) have an impact on Business cycles synchronization. Using the system Generalized Method of Moments (GMM) for dynamic panel over the period of 1980 to 2010, the study found a positive relationship between bilateral trade and similarity of specialization on one hand and business cycle correlation on the other hand. However, financial flows remain without significant effect on business cycle synchronization.
Authors and Affiliations
Nabil Alimi| Department of Economic Sciences, Faculty of Economic Sciences and Management, University of Tunis, Tunisia
DYNAMICS OF URBANIZATION AND TEMPERATURE INCREASE IN MIDDLE EAST-AN EMPIRICAL INVESTIGATION
Growth patterns are the important channels, through which the society and economy interact. Climate change could lead to such disruption, if unsystematic growth has not been controlled to a limit. Recent scientific evide...
BANK SIZE AND EFFICIENCY IN DEVELOPING COUNTRIES: INTERMEDIATION APPROACH VERSUS VALUE ADDED APPROACH AND IMPACT OF NON-TRADITIONAL ACTIVITIES
Following the using a panel of 402 commercial banks from 15 developing countries over the period between 2000-2003 period, we assess the effect of bank size on technical efficiency and its two components: pure technical...
Islamic Financial in the Global Financial System
This paper investigates the question of whether the phenomenon of Islamic finance who based on Shariah, or Islamic law is truly globalizing and spreading as a universal system of finance and banking. The paper also addre...
Determinants of Earnings: Evidence from Pakistan Engineering Sector
Engineering sector plays a considerable role in Pakistan’s economy. The contributionof engineering industry to GDP is $2 billion and it provides employment tosignificant personnel. The engineering sector in a number of e...
DOES INSTITUTIONAL QUALITY STRENGTHEN THE POSITIVE INFLUENCE OF OFFSHORE R&D STRATEGY ON THE FIRM PRODUCTIVITY?
The purpose of this study is to examine whether the host country?s institutional quality has a significant moderating effect on the relationship between the offshore R&D strategy in the local environment and firm product...