(Indonesia, Korea, Malaysia, the Philippines and Thailand) to deal with large capital inflows on the foreign exchange market …

. We find evidence of contagion from Thailand to Indonesia and Malaysia, with 13 and 21 percent of the ressure on the …This paper investigates whether, during the Asian crisis, contagion occurred from Thailand to the other crisis … specifically, we examine whether the effect of the exchange market pressure (EMP) of Thailand, the origin of the crisis, on the EMP …

. Additionally, we control for spillovers and common external shocks. We find evidence of contagion from Thailand to Indonesia and … pressure (EMP) of Thailand, the origin of the crisis, on the EMP of four Asian crisis countries increased during the crisis … Malaysia, with 13 and 21 percent of the pressure on the respective currencies attributable to contagion. For Korea and the …