-fulfilling crises were possible. Essay 3 studies financial contagion and develops a model of the international financial system. It uses … contagion. Essay 4 analyses the causes of financial crises in 31 emerging market countries in 1980–2001. A probit model is …

largest Central and Eastern European Countries (CEECs) can be attributed to contagion or to interdependence. Our tests based … on simple unadjusted correlation analysis uncover evidence of conta-gion between all pairs of countries. Adjusting for … market volatility during turmoil, however, produces dif-ferent results. We then find contagion from the Czech Republic to …

Using the maximum entropy method, this paper estimates the danger of contagion in the Finnish interbank market in 2005 …–2007 as well as the existence of contagion during a Finnish banking crisis. The contagion analysis of the early 1990s is able … that five of ten deposit banks are possible starting points for contagious effects. The magnitude of contagion is …

on European banks is exploited with simulated scale-free networks. The average contagion affected 70% and 40% of European … method to model the spreading of the contagion in the interbank network by implementing an epidemiologic model. Actual data … of contagion. Bank clustering, large incoming interbank loans and bank reputation are more prominent explanatory …

suggest further equity market integration. Networks, alliances, mergers and so forth seek to improve market efficiency …