@article{muraru2022how,
  title = {How Global is the Domestic Financial Cycle?  Evidence from Romania and 3 other EEMS},
  author = {Andreea MURARU and Cristina BEJENARU},
  year = 2022,
  url = {https://ibimapublishing.com/articles/JFSR/2022/121344/},
  journal = {Journal of Financial Studies and Research},
  volume = 2022,
  pages = 13,
  doi = 10.5171/2022.121344,
  abstract = {This paper provides an analysis of the potential common influences behind the synchronicity of financial cycles in four EEMS: Romania, Hungary, Poland and the Czech Republic. We checked if the common movements in these EEMS appear under the influence of the global financial cycle measured in terms of quantities - through capital flows - risk premiums and global risk aversion for investors. According to results, there is a strong correlation between yields, equity prices, house prices, credit and global capital flows, and a weaker one in terms of risk premiums (represented by the CDS) and the risk aversion (measured by the VIX index) which is a measure traditionally correlated with the global financial cycle.},
  keywords = {financial cycle; global financial cycle; capital flows, factor analysis, co-movement.},
  note = Article ID: 121344
}