This paper tests for evidence of contagion between the financial markets of Thailand, Malaysia, Indonesia, Korea, and … the Philippines. Cross-country correlations among currencies and sovereign spreads are found to increase significantly …

The centre of global economic activity is shifting rapidly towards Asia, driven by a combination of the economic … dynamism of China, India and other middle-income Asian countries, and sluggish growth in the OECD economies. The rapid growth … and rising global prominence has raised a range of major challenges for Asia and for the rest of the world. This …