Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/108596
Authors: 
Altug, Sumru
Canova, Fabio
Year of Publication: 
2012
Series/Report no.: 
Koç University-TÜSİAD Economic Research Forum Working Paper Series 1217
Abstract: 
We examine the relationship between institutions, culture and cyclical fluctuations for a sample of 45 European, Middle Eastern and North African countries. Better governance is associated with shorter and less severe contractions and milder expansions. Certain cultural traits, such as lack of acceptance of power distance and individualism, are also linked business cycle features. Business cycle synchronization is tightly related to similarities in the institutional environment. Mediterranean countries conform to these general tendencies.
Subjects: 
Business cycles
institutions
culture
Mediterranean countries
synchronization
JEL: 
C32
E32
Document Type: 
Working Paper

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