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Spatial Aspects of Contagion among Emerging Economies

Hondroyiannis, George; Kelejian, Harry; Tavlas, George - In: Spatial Economic Analysis 4 (2009) 2, pp. 191-211

Abstract A spatial model is used to specify and then test for the existence of contagion among emerging market … economies. We consider both trade and regional channels of contagion. Our results suggest that contagion is a statistically … results also suggest that trade links are significant channels of contagion transmission; on the other hand, geographic …

Persistent link: https://www.econbiz.de/10004966860

German Bank Lending During Financial Crises: A Bank Level Analysis

Heid, Frank; Nestmann, Thorsten; Von Westernhagen, Natalja - C.E.P.R. Discussion Papers - 2005

This paper studies German bank lending during the Asian and Russian crises, using a bank level data set from the Deutsche Bundesbank. Our aim is to gain more insight into the pattern of German bank lending during financial crises in emerging markets. We find that German banks reacted to the...

Persistent link: https://www.econbiz.de/10005504386

Is There a Causal Link between Currency and Debt Crises?

Dreher, Axel; Herz, Bernhard; Karb, Volker - EconWPA - 2004

Persistent link: https://www.econbiz.de/10005408199

The defense of multilateral XR target zones against contagious crises

Pentecôte, Jean-Sébastien - Money Macro and Finance Research Group - 2007

A growing literature has emerged to assess the importance and the channels of contagion during the recent currency …

Persistent link: https://www.econbiz.de/10004971112

Does Financial Connectedness Predict Crises?

Minoiu, Camelia; Kang, Chanhyun; Subrahmanian, V.S.; … - International Monetary Fund (IMF) - 2013

The global financial crisis has reignited interest in models of crisis prediction. It has also raised the question whether financial connectedness - a possible source of systemic risk - can serve as an early warning indicator of crises. In this paper we examine the ability of connectedness in...

Persistent link: https://www.econbiz.de/10010790234

How Do Banking Crises Affect Bilateral Exports?

Kiendrebeogo, Youssouf - International Monetary Fund (IMF) - 2013

This paper investigates whether banking crises are associated with declines in bilateral exports. We first develop a simple open economy model in which banking crises translate into negative liquidity shocks, leading to collapses in exports through supply-side and demand-side shocks. We then...

Persistent link: https://www.econbiz.de/10010790269

Trade and Financial Contagion in Currency Crises

Salgado, Ranil; Ricci, Luca Antonio; Caramazza, Francesco - International Monetary Fund (IMF) - 2000

This paper investigates empirically the relevance of external, domestic, and financial weaknesses as well as trade and financial linkages in inducing financial crises for a sample of 61 emerging market and industrial countries. A panel probit estimation finds these economic indicators to be...

Persistent link: https://www.econbiz.de/10005769104

Unanticipated Shocks and Systemic Influences; The Impact of Contagion in Global Equity Markets in 1998

González-Hermosillo, Brenda; Martin, Vance; Fry, Renee; … - International Monetary Fund (IMF) - 2003

14 developing and industrial countries. The results show that contagion was systemic during the period, with industrial … importance of studying them jointly. An implication of the empirical results is that models of contagion that exclude industrial …

Persistent link: https://www.econbiz.de/10005769188

Early Warning Systems; A Survey and a Regime-Switching Approach

Abiad, Abdul - International Monetary Fund (IMF) - 2003

Previous early-warning systems (EWSs) for currency crises have relied on models that require a priori dating of crises. This paper proposes an alternative EWS, based on a Markov-switching model, which identifies and characterizes crisis periods endogenously; this also allows the model to utilize...

Persistent link: https://www.econbiz.de/10005769232

Discriminating Contagion; An Alternative Explanation of Contagious Currency Crises in Emerging Markets

Ahluwalia, Pavan - International Monetary Fund (IMF) - 1999

, and data from the Mexican, Asian, and Russian crises to provide evidence of this discriminating contagion, after … controlling for alternative channels of contagion such as trade spillovers and financial linkages. …

Persistent link: https://www.econbiz.de/10005599208