driven by informational spillovers: uncertainty about the outcome of reform is reduced by learning from the experience of … confirm the presence of informational spillovers with respect to political liberalization but offer little support for … informational spillovers with respect to economic reforms. …

not strictly dominate positive spillovers. We find that the overall intra-market connectedness of U.S. stocks increased …This paper suggests how to quantify asymmetries in volatility spillovers that emerge due to bad and good volatility …. Using data covering most liquid U.S. stocks in seven sectors, we provide ample evidence of the asymmetric connectedness of …

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets … America, and the Middle East. The models capture a range of possible transmission channels: spillovers in mean returns … suggest that spillovers from regional and global markets are present in the vast majority of EMEs. However, the nature of …

findings show that there is contagion within the Euro Area. Additionally, contagious effects generated by rating announcements …

This paper examines volatility spillovers from mature to emerging stock markets and tests for changes in the … transmission mechanism—contagion—during turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature …

of last resort and other safety net issues. We devote particular emphasis to the analysis of systemic risk and contagion …