Regional business cycles in emerging economies: a review of the literature

Abstract

Purpose

This article offers a review of the literature on regional business cycles (BCs) in emerging economies. The objective is synthesizing the existing studies based on theoretical, empirical and methodological approaches.

Design/methodology/approach

The methodological framework includes the following stages: research questions, bibliography location, the selection of articles and the evaluation of the literature, analysis and synthesis, and the reporting and use of results.

Findings

The evidence suggests that expansionary phases last longer than recessions'; public expenditure shows a pro-cyclical behavior; and factors such as productive structure and international trade explain the synchronization of regional BCs.

Originality/value

Up until now, there is no research that performs a review of regional BCs in emerging economics.

Citation

Padilla, A. and Quintero Otero, J.D. (2023), "Regional business cycles in emerging economies: a review of the literature", International Journal of Emerging Markets, Vol. 18 No. 11, pp. 5217-5237. https://doi.org/10.1108/IJOEM-09-2021-1484