Has accession to the EU affected business cycles?
This paper undertakes to explain the relationship between EU accession and the length of business cycles, focusing specifically on whether participation in a multinational organization has, or has not, altered the length of the cycle. Employing a sample of nine EU countries (Austria, Denmark, Finlan...
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ftdoajarticles:oai:doaj.org/article:2f5e28e3493e44c7b1740a7ad2820c49 2023-05-15T16:51:34+02:00 Has accession to the EU affected business cycles? Panagiotis EVANGELOPOULOS Dimitrios DAPONTAS 2013-02-01T00:00:00Z https://doaj.org/article/2f5e28e3493e44c7b1740a7ad2820c49 EN eng General Association of Economists from Romania http://store.ectap.ro/articole/824.pdf https://doaj.org/toc/1841-8678 https://doaj.org/toc/1844-0029 1841-8678 1844-0029 https://doaj.org/article/2f5e28e3493e44c7b1740a7ad2820c49 Theoretical and Applied Economics, Vol XX, Iss 2, Pp 7-22 (2013) economic integration business cycles European Union Business HF5001-6182 Economic theory. Demography HB1-3840 Economics as a science HB71-74 article 2013 ftdoajarticles 2022-12-31T08:58:08Z This paper undertakes to explain the relationship between EU accession and the length of business cycles, focusing specifically on whether participation in a multinational organization has, or has not, altered the length of the cycle. Employing a sample of nine EU countries (Austria, Denmark, Finland, Greece, Ireland, Portugal, Spain, Sweden and the UK) we focused initially on annual data for per capita growth in GDP over a period of 59 years (1950-2008). For each country the sample was divided into two parts, one covering the period preceding accession to the EU and one is covering the accession year and succeeding years. Then, eliminating the background noise with the use of a periodogram, we proceeded to examine their spectral density plots. The results indicated that in the first years following accession, the countries tended to experience shorter cycles than they had previously. In the second phase the cycles were of the same duration as previous cycles. Finally, after a period of some years, the length of the cycles increased, as suggested by the J-shaped curve. This J-shaped growth curve applies for the countries that have joined the EU, strongly suggesting a causal relationship between accession to the EU and these specific characterristics of the curve. We cross-checked with a set of four non-EU member countries (Iceland, Norway, Switzerland and Turkey) and found no change in the length of the business cycle in these countries. Article in Journal/Newspaper Iceland Directory of Open Access Journals: DOAJ Articles Norway |
institution |
Open Polar |
collection |
Directory of Open Access Journals: DOAJ Articles |
op_collection_id |
ftdoajarticles |
language |
English |
topic |
economic integration business cycles European Union Business HF5001-6182 Economic theory. Demography HB1-3840 Economics as a science HB71-74 |
spellingShingle |
economic integration business cycles European Union Business HF5001-6182 Economic theory. Demography HB1-3840 Economics as a science HB71-74 Panagiotis EVANGELOPOULOS Dimitrios DAPONTAS Has accession to the EU affected business cycles? |
topic_facet |
economic integration business cycles European Union Business HF5001-6182 Economic theory. Demography HB1-3840 Economics as a science HB71-74 |
description |
This paper undertakes to explain the relationship between EU accession and the length of business cycles, focusing specifically on whether participation in a multinational organization has, or has not, altered the length of the cycle. Employing a sample of nine EU countries (Austria, Denmark, Finland, Greece, Ireland, Portugal, Spain, Sweden and the UK) we focused initially on annual data for per capita growth in GDP over a period of 59 years (1950-2008). For each country the sample was divided into two parts, one covering the period preceding accession to the EU and one is covering the accession year and succeeding years. Then, eliminating the background noise with the use of a periodogram, we proceeded to examine their spectral density plots. The results indicated that in the first years following accession, the countries tended to experience shorter cycles than they had previously. In the second phase the cycles were of the same duration as previous cycles. Finally, after a period of some years, the length of the cycles increased, as suggested by the J-shaped curve. This J-shaped growth curve applies for the countries that have joined the EU, strongly suggesting a causal relationship between accession to the EU and these specific characterristics of the curve. We cross-checked with a set of four non-EU member countries (Iceland, Norway, Switzerland and Turkey) and found no change in the length of the business cycle in these countries. |
format |
Article in Journal/Newspaper |
author |
Panagiotis EVANGELOPOULOS Dimitrios DAPONTAS |
author_facet |
Panagiotis EVANGELOPOULOS Dimitrios DAPONTAS |
author_sort |
Panagiotis EVANGELOPOULOS |
title |
Has accession to the EU affected business cycles? |
title_short |
Has accession to the EU affected business cycles? |
title_full |
Has accession to the EU affected business cycles? |
title_fullStr |
Has accession to the EU affected business cycles? |
title_full_unstemmed |
Has accession to the EU affected business cycles? |
title_sort |
has accession to the eu affected business cycles? |
publisher |
General Association of Economists from Romania |
publishDate |
2013 |
url |
https://doaj.org/article/2f5e28e3493e44c7b1740a7ad2820c49 |
geographic |
Norway |
geographic_facet |
Norway |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
Theoretical and Applied Economics, Vol XX, Iss 2, Pp 7-22 (2013) |
op_relation |
http://store.ectap.ro/articole/824.pdf https://doaj.org/toc/1841-8678 https://doaj.org/toc/1844-0029 1841-8678 1844-0029 https://doaj.org/article/2f5e28e3493e44c7b1740a7ad2820c49 |
_version_ |
1766041686966796288 |