We develop a general econometric model of currency crises and contagion that integrates a number of important features … find strong evidence of contagion, mostly from the Spanish peseta to the Portuguese escudo, and to some extent from the …

In this paper we test for contagion within the East Asian region, contagion being defined as a significant increase in … omitted variable respectively. The null of interdependence against the alternative of contagion is then tested as an over …-identifying restriction. Unlike other studies, our approach is based on full-sample estimation, and hence avoids the power problems arising …

In this paper, we contribute to the literature on the international stock market co-movements and contagion, especially …

In this paper, we investigate worldwide contagion and its determinants during the 2008 financial crisis. Utilizing an … international sample of returns from 2003 to 2009, we consider both uni- and bi-directional contagion. After controlling for crisis … crises, contagion following the 2008 global financial crisis is not confined to emerging markets. The United States and other …

Free trade theory of the international macroeconomics suggests, it will improve international trade conditions in form …