This paper, an collage, provides a background on financial contagion, its anatomy, It presents thoughts on the cause of financial contagion of 2007 -2008, the causative factors of the financial crises through 2007 to 2009 emanating from USA, the premise of the financial crises, identifying the...

The Global Financial Crisis unleashed changes in the operating and regulatory environments for large international banks. This paper proposes a novel taxonomy to identify and track business model evolution for the 30 Global Systemically Important Banks (G-SIBs). Drawing from banks' reporting, it...

This paper studies whether bilateral international financial connection data help predict bilateral stock return comovement. It is shown that, when the United States is chosen as the benchmark, a larger U.S. portfolio investment asset position on the destination economy predicts a stronger stock...

Portfolio capital raised through foreign public issuances is seen as volatile and undesirable for countries with poorly regulated financial systems. An implication is that firms that finance themselves in part with such investment have worse outcomes during systemic liquidity crises. I...

Post-crisis dynamics show a shrinkage in the overall amount of crossborder bank lending,which has been interpreted in the literature as a retreat in financial globalization. In this paper, we argue that aggregate figures are not sufficient to support such a claim in terms ofthe overall structure...

This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...

Using the 2007-09 financial crisis as a laboratory, we analyze the transmission of crises to country-industry equity portfolios in 55 countries. We use a factor model to predict crisis returns, defining unexplained increases in factor loadings and residual correlations as indicative of...

We evaluate whether financial openness leaves emerging market economies vulnerable to the adverse effects of capital reversals (sudden stops) on domestic investment. We investigate this claim in a broad sample of emerging markets during the period 1976-2002. If the banking sector does not...

In this study we trace changes in sovereign bond spreads over major phases of the recent international financial crisis for representative sovereign bond portfolios drawn from 43 countries, including 20 emerging economies. We extend upon traditional factor analyses and utilize propensity score...

This paper investigates whether global investors are over or under exposed towards the euro area and the role of home bias and institutions at home in shaping this exposure. According to a simple benchmark from standard portfolio theory, euro area investors - in particular those from euro area...