Data Management

Business Cycle Synchronization: A Mediterranean Comparison

Date Added: Jun 2010
Format: PDF

Nowadays, due to the world economic regionalization, business cycle synchronization is of great importance. It is in this context that this paper is defined. Indeed, following the political debates carried out especially by France in order to create a Mediterranean Union, the authors propose synchronism estimation between the Tunisian, French, Italian, Spanish, Greek and Turkish industrial cycles. Several methods were used to measure the business cycles synchronization among these countries. In fact, concordance index indicates a weaker convergence between the two Mediterranean sides. Consequently, the cycles are, in general, asynchronous and the creation of a Mediterranean Union is not encouraged.