Record Details

Business Cycle Synchronization – Part of the European Integration Case Study: Romania and the Eurozone

International Journal of Economic Practices and Theories

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Field Value
 
Title Business Cycle Synchronization – Part of the European Integration Case Study: Romania and the Eurozone
 
Creator Adrian, Petre
 
Subject Economics
business cycle, structural similarity, convergence
F62, O11
 
Description The purpose of this study is to identify the degree of business cycle synchronization between Romania and the eurozone. For this scientific approach, I analyzed two important indicators, in terms of business cycles synchronization: commercial intensity (Eickmeier and Breitung; 2006) and structural similarity (Krugman; 1991). The intensity of Romania's trade with the eurozone is low, which is an important issue for ensuring a sustainable growth rate. In terms of structural similarity with the eurozone, the Romanian economy recorded structural gaps, which generates vulnerability to asymmetric shocks. When the degree of integration increased, Romania recorded a downward trend of trade with the eurozone. Due to low competitiveness of Romanian products and services, this country has a less favorable position in the eurozone,. The results obtained after performing this study shows that Romania must become more convergent, in structural terms, with eurozone economy, in order to move to the next stage of the European integration.
 
Publisher International Journal of Economic Practices and Theories
 
Contributor —
 
Date 2015-05-15
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.ijept.org/index.php/ijept%20/article/view/Business_Cycle_Synchronization_Part_of_the_European_Integration_Case_Study_Romania_and_the_Eurozone
 
Source International Journal of Economic Practices and Theories; Vol 5, No 3 (2015): Special issue on Competitiveness and Economic & Social Cohesion; 271-276
2247 – 7225
 
Language eng
 
Relation http://www.ijept.org/index.php/ijept%20/article/view/Business_Cycle_Synchronization_Part_of_the_European_Integration_Case_Study_Romania_and_the_Eurozone/pdf_115