Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/195485 
Year of Publication: 
2017
Citation: 
[Journal:] Contemporary Economics [ISSN:] 2300-8814 [Volume:] 11 [Issue:] 2 [Publisher:] University of Finance and Management in Warsaw, Faculty of Management and Finance [Place:] Warsaw [Year:] 2017 [Pages:] 171-186
Publisher: 
University of Finance and Management in Warsaw, Faculty of Management and Finance, Warsaw
Abstract: 
The European post-communist countries that have integrated into the European Union are emerging market economies. However, their short-run economic performance does not correspond to the observed business cycles of other global emerging markets. The business cycles of the studied countries are longer, and their recessions are more pronounced. Moreover, economic activity in the studied countries is relatively low and volatile, and the trade balance and government purchases have a relatively significant countercyclical character. These are the core conclusions from our business cycle study of the chosen European post-communist countries. In the study, we use both traditional and contemporary business cycle definitions. Using traditional definitions, we determine the peaks, troughs, expansions and contractions and quantify the durations and amplitudes of their expansions, recessions and business cycles. Using contemporary definitions, we measure cyclical properties by computing the first and second moments of the chosen macroeconomic cyclical components and growth rates. Differences in the business cycles and characteristics between European post-communist countries and other emerging countries are discussed with reference to the works of other authors.
Subjects: 
business cycles
emerging markets
European post-communist countries
JEL: 
E32
O52
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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