Business Cycles Synchronization of Russia, Belarus, and Kazakhstan

Business cycles synchronization (or its absence) is important for planning further integration steps inas-much as it concerns integration within economic domain. The extent of (desirable) common macroeconomic policies depends on the degree and specifics of synchronization (disalignment) between the countries’ GDP and its components. Below we present results of a study of business cycles synchronization of different Customs Union (CU) countries using several concepts (long term and short term) and measures of business cycles comovements.