Testing for the Existence of an S-curve in Croatia, Hungary, and Slovenia: A note
In this note we investigate for the existence of an S-curve for Croatia, Hungary and Slovenia. We interpret the results in the spirit of the international business cycle literature. In particular, we compare institutions across countries in the sample, their fiscal and monetary policies, whether they had currency and/or banking crises during the period of investigation, how much they trade with the rest of the world, and how similar or different those countries are compared to the evidence from international data.
 Aguiar, M. and Gopinath, G. 2004. Emerging market business cycles: The cycle is the trend, NBER Working Paper No. 10734, National Bureau of Economic Research. Available at: http://pages.stern.nyu.edu/ ~dbackus/3386/Readings/AguiarGopinath%20cyclei%20trend%20May%2004.pdf
 Backus, D.K., Kehoe, P.J. and Kydland, F. 1994. Dynamics of the trade balance and the terms of trade: The J-Curve? American Economic Review, 84(1): 84-103.
 Benczur, P., and Ratfai, A. 2005. Economic fluctuations in Central and Eastern countries. The Facts. CEU Working Paper, 14 p.
 Kaminsky, G.L., Reinhart, C.M., Végh, C.A. 2004. When it rains, it pours: Procyclical capital flows and macroeconomic policies, NBER Macroeconomic Annual, Volume 19, Working Paper No. 10780.
 Kose, M.A., Yi, K.M. 2001. International trade and business cycles: Is vertical specialization the missing link? American Economic Review, 91(2): 371-375.
*** CIA World Factbook. 2004. Langley, USA.
The Copyright Transfer Form to ASERS Publishing (The Publisher)
This form refers to the manuscript, which an author(s) was accepted for publication and was signed by all the authors.
The undersigned Author(s) of the above-mentioned Paper here transfer any and all copyright-rights in and to The Paper to The Publisher. The Author(s) warrants that The Paper is based on their original work and that the undersigned has the power and authority to make and execute this assignment. It is the author's responsibility to obtain written permission to quote material that has been previously published in any form. The Publisher recognizes the retained rights noted below and grants to the above authors and employers for whom the work performed royalty-free permission to reuse their materials below. Authors may reuse all or portions of the above Paper in other works, excepting the publication of the paper in the same form. Authors may reproduce or authorize others to reproduce the above Paper for the Author's personal use or for internal company use, provided that the source and The Publisher copyright notice are mentioned, that the copies are not used in any way that implies The Publisher endorsement of a product or service of an employer, and that the copies are not offered for sale as such. Authors are permitted to grant third party requests for reprinting, republishing or other types of reuse. The Authors may make limited distribution of all or portions of the above Paper prior to publication if they inform The Publisher of the nature and extent of such limited distribution prior there to. Authors retain all proprietary rights in any process, procedure, or article of manufacture described in The Paper. This agreement becomes null and void if and only if the above paper is not accepted and published by The Publisher, or is with drawn by the author(s) before acceptance by the Publisher.