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-directional. As regards the impact of FDI on GDP, the new theories of growth assume the positive impact of capital on production growth in both short- and long-term. For examples, in the models developed by the followers of the real business cycle arguments are

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the Economic Analysis of Nonstationary Time Series and the Business Cycle . Econometrica , 57 : 357 – 384 . 10.2307/1912559 Hansen , B. E. – Seo , B. ( 2002 ): Testing for Two-regime Threshold Cointegration in Vector Error-Correction Models

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Entrepreneurship and Management Journal , 11 ( 1 ): 149 – 168 . 10.1007/s11365-013-0277-0 Schumpeter , J. A. ( 1934 ): The Theory of Economic Development: An Inquiry into Profits, Capital, Credits, Interest, and the Business Cycle . Piscataway : Transaction

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Acta Oeconomica
Authors: Ivan Vujačić, Jelica Petrović-Vujačić, Svetozar Tanasković, and Marko Miljković

business cycle downturns. The results show the presence of convergence among the EU member states (EU-25) and among the CEE-10, and some divergence among the EU-15. This leads to the conclusion that there was a catching-up process. However, the crisis has

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, J. A. ( 1912 ): Theorie der Wirtschaftlichen Entwicklung . Leipzig : Verlag von Duncker – Humblot . Schumpeter , J. A. ( 1934 ): The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle

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Acta Oeconomica
Authors: Jorge de Andrés-Sánchez, Ángel Belzunegui-Eraso, and Francesc Valls-Fonayet

, T. (eds): Child Well-Being, Child Poverty and Child Policy in Modern Nations: What Do We Know . Bristol : Policy Press , 371 – 405 . 10.2307/j.ctt1t892w4.25 Quah , C. H. ( 2014 ): Revisiting Business Cycles in the Eurozone: A Fuzzy

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. – Demirgüç-Kunt , A. – Huizinga , H. ( 2015 ): Bank Ownership and Credit over the Business Cycle: Is Lending by State Banks Less Procyclical? Journal of Banking and Finance , 50 ( 1 ): 326 – 339 . 10.1016/j.jbankfin.2014.03.012 Bonin , J. P

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should be spread over a period which takes into account the underlying business cycle of the institution and its business risks. Recommended risk-adjustment mechanisms should combine the malus and claw back arrangements. They should lead to reduction of

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this paper, I focus on this aspect. 3 Technically speaking, business cycles are not synchronised or the common currency countries are hit by asymmetric shocks. 4 They cannot unilaterally grant that their legal tender will always and unlimitedly be

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produce consumer goods such as bicycles or refrigerators. It is hard to believe that in 1943 only 139 passenger cars were sold ( Economist 2021a ). When the war ended, despite the general recession, to which also the business cycle contributed

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