This study investigates the transmission of financial contagion from energy markets, specifically focusing on Brent oil and natural gas, to the stock indices of 13 countries highly dependent on Russian fuel exports. The analysis encompasses two major crises: the COVID-19 pandemic and the 2022...

We study the distribution of equity returns in the G20 equity markets to test for contagion following the first official report of a COVID19 case in China in December 2019 and the subsequent announcement of a global pandemic in March 2020. We find evidence of contagion of Chinese equity market...

We empirically investigate why financial crises spread from one country to another. For our analysis, we develop a new multiple-channel test of financial market contagion and construct indices of crisis-severity in equity markets in order to examine how the transmission of shocks across...