Volume 23, Issue 2 (Summer 2018)
JPBUD 2018, 23(2): 3-30 |
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Hosseini A, Barackchian S M, Madanizadeh S A. (2018). Business Cycle Synchronization and Patterns of Trade: Cases from Gulf Cooperation Council Countries. JPBUD. 23(2), 3-30.
URL: http://jpbud.ir/article-1-1698-en.html
URL: http://jpbud.ir/article-1-1698-en.html
1- M.A in Economics, Sharif University of Technology, Tehran, Iran.
2- Assistant Professor, Faculty of Economics, Sharif University of Technology, Tehran, Iran , barakchian@sharif.edu
3- Assistant Professor, Faculty of Economics, Sharif University of Technology, Tehran, Iran
2- Assistant Professor, Faculty of Economics, Sharif University of Technology, Tehran, Iran , barakchian@sharif.edu
3- Assistant Professor, Faculty of Economics, Sharif University of Technology, Tehran, Iran
Abstract: (4908 Views)
Do similarities in trade patterns of GCC countries (UAE, KSA, Qatar, Bahrain, Kuwait, and Oman), which are geographically and politically alike and also enjoy oil income, affect the synchronization of their business cycles and make them have similar booms and busts? In this paper, we attempt to connect these two features and explore this question. Using various estimation methods (Common Correlated Effect Estimation, OLS, and GSL) and the data for these 6 countries from 1980-2012, we show that the trade patterns of the countries have a significant and positive effect on the synchronization of their business cycles. Knowing such Business Cycle Synchronization among countries and exploring its effective factors can be helpful for policymakers in making decisions.
Keywords: Business Cycle Synchronization, GCC Countries, Trade Pattern, Common Correlated Effects Estimation, Oil-Producing Countries.
Type of Study: Research |
Subject:
business and international finance
Received: Nov 17 2018 | Accepted: Mar 16 2019 | ePublished: Sep 22 2018
Received: Nov 17 2018 | Accepted: Mar 16 2019 | ePublished: Sep 22 2018
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