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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
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Crisis Management and Resolution; Early Lessons from the Financial Crisis
Pazarbasioglu, Ceyla; Laeven, Luc; Nedelescu, Oana M.; … - International Monetary Fund (IMF) - 2011
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...
Persistent link: https://www.econbiz.de/10011245897
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A Simple Model of An International Lender of Last Resort
Huang, Haizhou; Goodhart, C. A. E. - International Monetary Fund (IMF) - 2000
liquidity, but with potential costs of international financial contagion. An ILOLR can play a useful role in providing … international liquidity and reducing international contagion. …
Persistent link: https://www.econbiz.de/10005248186
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Contagion, Monsoons, and Domestic Turmoil in Indonesia; A Case Study in the Asian Currency Crisis
Saxena, Sweta Chaman; Cerra, Valerie - International Monetary Fund (IMF) - 2000
shocks (“monsoons”), or contagion from neighboring countries. Markov-switching models attribute speculative pressure on … Indonesia’s currency to domestic political and financial factors and contagion from speculative pressures in Thailand and Korea … probabilities improves the conditional probabilities of crisis in Indonesia. There is also evidence of contagion in the stock market. …
Persistent link: https://www.econbiz.de/10005248271
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Currency Crisis and Contagion; Evidence From Exchange Rates and Sectoral Stock Indices of the Philippines and Thailand
Nagayasu, Jun - International Monetary Fund (IMF) - 2000
This paper analyzes empirically the recent Asian financial crisis using high frequency data of exchange rates and stock indices of the Philippines and Thailand. Utilizing standard time-series techniques, this study confirms that there is evidence that developments in some sectoral...
Persistent link: https://www.econbiz.de/10005263754
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Managing Financial Crises; The Experience in East Asia
Lane, Timothy D.; Hamann, A. Javier; Schulze-Gattas, … - International Monetary Fund (IMF) - 2000
The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management...
Persistent link: https://www.econbiz.de/10005263845
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Output Response to Currency Crises
Sahay, Ratna; Mishra, Deepak; Gupta, Poonam - International Monetary Fund (IMF) - 2003
This paper analyzes the behavior of output during currency crises using a sample of 195 crisis episodes in 91 developing countries during 1970-98. It finds that more than two-fifths of the crises in the sample were expansionary, and that output contraction was greater in large and more developed...
Persistent link: https://www.econbiz.de/10005263977
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Essays on financial crises in emerging markets
Komulainen, Tuomas - Suomen Pankki - 2004
-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 …
Persistent link: https://www.econbiz.de/10008692076
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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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Cross-Country Empirical Studies of Systemic Bank Distress: A Survey
Demirgüç-Kunt, Asli; Detragiache, Enrica - International Monetary Fund (IMF) - 2005
A rapidly growing empirical literature is studying the causes and consequences of bank fragility in present-day economies. The paper reviews the two basic methodologies adopted in cross-country empirical studies-the signals approach and the multivariate probability model-and their application to...
Persistent link: https://www.econbiz.de/10005826068