Convergence and Contagion in Transitional Countries

Kiss, Gábor Dávid; Megyeri, Eszter; Gábor, Tamás; Dudas, Laszlo

doi:10.2139/ssrn.1488329

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Convergence and Contagion in Transitional Countries

Regions, Firms and Institutions in the World Economy, Warsaw School of Economics - University of Tübingen - Heidelberg University - University of Hohenheim, October 8-9, 2009, Warsaw

15 Pages Posted: 17 Oct 2009

See all articles by Gábor Dávid Kiss

Gábor Dávid Kiss

University of Szeged - Faculty of Economics and Business Administration

Laszlo Dudas

University of Szeged - Doctoral School of Physics

Date Written: October 8, 2009

Abstract

During the transition time in East Central Europe, a number of schools of thoughts clashed over the creation of a market economy and the role of the state. This study compares Slovenian, Czech, Hungarian and Russian external balance and factors of external vulnerabilities with Swedish, Danish and Finnish data bearing in mind the differences in the real economy. The comparison takes into account the bounded rational market participants on complex, scale-free global capital markets, which resulted erratic convergence in this region.

Keywords: imbalances, regional comparison, correlation, convergence, extreme capital flows

JEL Classification: E44, E62, I38, O16

Suggested Citation: Suggested Citation

Kiss, Gábor Dávid and Megyeri, Eszter and Gábor, Tamás and Dudas, Laszlo, Convergence and Contagion in Transitional Countries (October 8, 2009). Regions, Firms and Institutions in the World Economy, Warsaw School of Economics - University of Tübingen - Heidelberg University - University of Hohenheim, October 8-9, 2009, Warsaw, Available at SSRN: https://ssrn.com/abstract=1488329 or http://dx.doi.org/10.2139/ssrn.1488329