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dc.contributor.authorAltug, S.en_US
dc.contributor.authorNeyapti, B.en_US
dc.contributor.authorEmin, M.en_US
dc.date.accessioned2016-02-08T09:43:24Z
dc.date.available2016-02-08T09:43:24Z
dc.date.issued2012en_US
dc.identifier.issn1367-0271
dc.identifier.urihttp://hdl.handle.net/11693/21229
dc.description.abstractThis paper investigates the relationship between the main features of business cycles and the institutional and structural characteristics of 62 industrial, emerging and formerly centrally planned economies from all continents. We find that a variety of institutional indicators, including stronger governance, greater civil liberties, more developed labour and capital markets, and higher levels of central bank independence are significantly associated with business cycle characteristics - namely, volatility and persistence. Our study also demonstrates that similarity of the institutional environment in dimensions such as governance and the level of labour and capital market development strongly affects the co-movement of business cycles across countries. © 2013 Blackwell Publishing Ltd.en_US
dc.language.isoEnglishen_US
dc.source.titleInternational Financeen_US
dc.relation.isversionofhttp://dx.doi.org/10.1111/j.1468-2362.2013.12000.xen_US
dc.subjectBusiness cyclesen_US
dc.titleInstitutions and business cyclesen_US
dc.typeArticleen_US
dc.departmentDepartment of Economicsen_US
dc.citation.spage347en_US
dc.citation.epage366en_US
dc.citation.volumeNumber15en_US
dc.citation.issueNumber3en_US
dc.identifier.doi10.1111/j.1468-2362.2013.12000.xen_US
dc.publisherWiley-Blackwell Publishing Ltd.en_US
dc.identifier.eissn1468-2362


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