The convergence evolution in Europe from a complex networks perspective

Artikel

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Journal of Risk and Financial Management ; ISSN: 1911-8074 ; Volume: 15 ; Year: 2022 ; Issue: 10 ; Pages: 1-14

Classification and Topics

• Classification: Management
• Subject: complex networks ; convergence ; correlation ; European business cycles ; graph theory ; synchronization ; EU integration ; EU deepening ; EU enlargement

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Papadimitriou, Theophilos ; Gkonkas, Periklēs ; Gkatzoglou, Fotios
• Event: Veröffentlichung
• (who): MDPI
• (where): Basel
• (when): 2022

Further information

• DOI: doi:10.3390/jrfm15100457
• Handle: http://hdl.handle.net/10419/274977
• Last update: 10.03.2025, 11:42 AM CET