{"title":"Business Cycles Synchronization between Baltic and Western European Countries","authors":"Rimas Zienius, Elisabeth T. Pereira","doi":"10.37394/23207.2023.20.222","DOIUrl":null,"url":null,"abstract":"This study examines the synchronisation of the business cycles between the Baltic States and the countries of Western Europe. The study covers the following countries: Latvia, Lithuania, France, the United Kingdom, Germany, and Estonia; and the quarterly GDP growth data during the period 1995-2017. The GDP growth data have been modified using the Hodrick-Prescott and Baxter filters to distinguish business cycles. To measure the synchronisation between the business cycles of the selected countries, the correlation between the business cycles of the countries was used. The results show that the business cycles of the Baltic and Western European countries were more synchronised in 2009-2014 than in 1998-2014. It shows that the Baltic economies are becoming more related to the European Union countries and less related to the post-Soviet countries.","PeriodicalId":39427,"journal":{"name":"WSEAS Transactions on Business and Economics","volume":"69 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2023-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"WSEAS Transactions on Business and Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.37394/23207.2023.20.222","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 0
Abstract
This study examines the synchronisation of the business cycles between the Baltic States and the countries of Western Europe. The study covers the following countries: Latvia, Lithuania, France, the United Kingdom, Germany, and Estonia; and the quarterly GDP growth data during the period 1995-2017. The GDP growth data have been modified using the Hodrick-Prescott and Baxter filters to distinguish business cycles. To measure the synchronisation between the business cycles of the selected countries, the correlation between the business cycles of the countries was used. The results show that the business cycles of the Baltic and Western European countries were more synchronised in 2009-2014 than in 1998-2014. It shows that the Baltic economies are becoming more related to the European Union countries and less related to the post-Soviet countries.
本研究探讨了波罗的海国家与西欧国家之间商业周期的同步性。研究涵盖以下国家拉脱维亚、立陶宛、法国、英国、德国和爱沙尼亚；以及 1995-2017 年期间的季度 GDP 增长数据。为区分商业周期，使用霍德里克-普雷斯科特和巴克斯特滤波器对 GDP 增长数据进行了修改。为了衡量选定国家商业周期之间的同步性，使用了国家商业周期之间的相关性。结果显示，2009-2014 年波罗的海国家和西欧国家的商业周期比 1998-2014 年更加同步。这表明波罗的海经济体与欧盟国家的关联度越来越高，而与后苏联国家的关联度越来越低。
期刊介绍：
WSEAS Transactions on Business and Economics publishes original research papers relating to the global economy. We aim to bring important work using any economic approach to a wide international audience and therefore only publish papers of exceptional scientific value that advance our understanding of finances. The research presented must transcend the limits of case studies, while both experimental and theoretical studies are accepted. While its main emphasis is economic, it is a multi-disciplinary journal and therefore its content mirrors the diverse interests and approaches of scholars involved with the international dimensions of business, economics, finance, history, law, marketing, management, political science, and related areas. It also welcomes scholarly contributions from officials with government agencies, international agencies, and non-governmental organizations.
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