Research Article
Investigating the Effect of Oil Revenue Shocks on Business Cycles and the Synchronism of Cycles with Selected OECD Countries
Table 7
Estimation of business cycle synchronization index.
| Countries | Business cycle correlation coefficient |
| Belgium | 0.09 | China | 0.30 | France | 0.00 | Germany | 0.042 | Greece | 0.29 | India | −0.15 | Italy | −0.07 | Japan | 0.17 | South Korea | −0.10 | Spain | 0.10 | Turkey | 0.03 | England | −0.44 |
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