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Society and Economy
Authors: Harun Ercan, Ilhami Karahanoglu, and György Walter

. ( 2018 ): Does Islamic Banking Offer a Natural Hedge for Business Cycles? Evidence from a Dual Banking System . Journal of Financial Stability 36 : 22 – 38 . https://doi.org/10.1016/j.jfs.2018

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measures created additional problems. Institutional incompleteness, uncoordinated national business cycles and the lack of countercyclical policies led to the accumulation of large stocks of undiversified national public debt securities by national banks

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highly interlinked automotive and electronics industries. Having learned the lessons of this dependence on FDI and exposure to international business cycles and business decisions taken outside their countries, the Visegrad governments reformed, to some

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in Europe – Business Cycle and Institutional Effects . International Economics and Economic Policy 13 ( 1 ): 5 – 25 . 10.1007/s10368-015-0331-1 Edmunds , J. – Turner , B. S . ( 2002 ): Generations, Culture, and Society . Philadelphia : Open

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stocks) determines value added at factor cost (Eurostat 2021 ). We can assume that these results may be mainly explained by the domestic and global business cycles. The effects of the introduced measures cannot be seen in this data; not just due to the

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Society and Economy
Authors: Edina Berlinger, Judit Lilla Keresztúri, Ágnes Lublóy, and Zsuzsanna Tamásné Vőneki

. Previous literature suggests that the GDP growth serves as a proxy for the phase of the business cycle (expansion versus recession), and during economic downturn the frequency and severity of loss events are higher ( Abdymomunov et al., 2020 ). It is

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