Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/274977 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 15 [Issue:] 10 [Article No.:] 457 [Year:] 2022 [Pages:] 1-14
Publisher: 
MDPI, Basel
Abstract: 
The evolution of the convergence among the European countries, including both Eurozone as well as non-Eurozone economies, is investigated in this paper. To do so, we construct correlation-based networks and study them by employing the Threshold Weighted-Minimum Dominating Set (TW-MDS) algorithm and analyzing standard quantitative performance graph theory metrics. Each country is represented by a network node, while the edges represent the cross-correlations calculated for a specific macroeconomic variable, for a given time window. To study the intertemporal evolution of the network's interconnections, we examine its structure in three consecutive time intervals: 1999-2004, 2005-2010 and 2011-2019. The empirical findings provide a mixed pattern. The European countries exhibit a common behavior over time for some macroeconomic variables, but not for all of them.
Subjects: 
complex networks
convergence
correlation
European business cycles
graph theory
synchronization
EU integration
EU deepening
EU enlargement
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.