BUSINESS CYCLE SYNCHRONISATION IN THE GREEK REGIONS
This paper examines the degree of synchronicity in business cycles in Greek regions associated with specific spatial and economic characteristics that explain, to a large extent, synchronisation dynamics. We conducted an analysis of almost 30 years’ (1980-2008) worth of data at the NUTSIII level (pr...
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University of Bucharest
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doaj-9dad183b788c49b4a04e037351d607fa2020-11-24T21:55:26ZengUniversity of BucharestJournal of Urban and Regional Analysis2067-40822068-99692011-12-0132143158BUSINESS CYCLE SYNCHRONISATION IN THE GREEK REGIONSIoannis PANTELADIS0Maria TSIAPA1University of Thessaly, GreeceUniversity of Thessaly, GreeceThis paper examines the degree of synchronicity in business cycles in Greek regions associated with specific spatial and economic characteristics that explain, to a large extent, synchronisation dynamics. We conducted an analysis of almost 30 years’ (1980-2008) worth of data at the NUTSIII level (prefectures). We conclude that prefectures are more synchronised with the NUTSII regions than the national level, accentuating a regional (NUTSII) border effect. Moreover, the intensification of the integration process and the free operation of markets seem to diachronically affect the structural characteristics of the Greek regions and the geography of cyclical synchronisation. Our study revealed a two-stage integration in which in the first stage they are detected urbanisation economies, while in the second one localisation economies. The metropolitan region, apart from its prominent position in economic growth, shows a confined level of business synchronisation with the other regions, stressing Greece’s pattern of economic and structural dualism.http://jurareview.ro/resources/pdf/volume_8_business_cycle_synchronisation_in_the_greek_regions__abstract.pdfsynchronization cyclesGreek regionsintegrationeconometric analysis. |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Ioannis PANTELADIS Maria TSIAPA |
spellingShingle |
Ioannis PANTELADIS Maria TSIAPA BUSINESS CYCLE SYNCHRONISATION IN THE GREEK REGIONS Journal of Urban and Regional Analysis synchronization cycles Greek regions integration econometric analysis. |
author_facet |
Ioannis PANTELADIS Maria TSIAPA |
author_sort |
Ioannis PANTELADIS |
title |
BUSINESS CYCLE SYNCHRONISATION IN THE GREEK REGIONS |
title_short |
BUSINESS CYCLE SYNCHRONISATION IN THE GREEK REGIONS |
title_full |
BUSINESS CYCLE SYNCHRONISATION IN THE GREEK REGIONS |
title_fullStr |
BUSINESS CYCLE SYNCHRONISATION IN THE GREEK REGIONS |
title_full_unstemmed |
BUSINESS CYCLE SYNCHRONISATION IN THE GREEK REGIONS |
title_sort |
business cycle synchronisation in the greek regions |
publisher |
University of Bucharest |
series |
Journal of Urban and Regional Analysis |
issn |
2067-4082 2068-9969 |
publishDate |
2011-12-01 |
description |
This paper examines the degree of synchronicity in business cycles in Greek regions associated with specific spatial and economic characteristics that explain, to a large extent, synchronisation dynamics. We conducted an analysis of almost 30 years’ (1980-2008) worth of data at the NUTSIII level (prefectures). We conclude that prefectures are more synchronised with the NUTSII regions than the national level, accentuating a regional (NUTSII) border effect. Moreover, the intensification of the integration process and the free operation of markets seem to diachronically affect the structural characteristics of the Greek regions and the geography of cyclical synchronisation. Our study revealed a two-stage integration in which in the first stage they are detected urbanisation economies, while in the second one localisation economies. The metropolitan region, apart from its prominent position in economic growth, shows a confined level of business synchronisation with the other regions, stressing Greece’s pattern of economic and structural dualism. |
topic |
synchronization cycles Greek regions integration econometric analysis. |
url |
http://jurareview.ro/resources/pdf/volume_8_business_cycle_synchronisation_in_the_greek_regions__abstract.pdf |
work_keys_str_mv |
AT ioannispanteladis businesscyclesynchronisationinthegreekregions AT mariatsiapa businesscyclesynchronisationinthegreekregions |
_version_ |
1725862657906442240 |