The threat of the subprime crisis in the United States began to make itself felt in early 2008, with its effects subsequently become global. It is evident that trade linkages have been the most important channel for transmitting the subprime crisis to East Asian countries, including Thailand....

Many empirical studies find little evidence to support trade linkages as a channel for crisis spillovers during the 2008–09 global financial crisis, although trade linkages were one of the most important crisis transmission channels during 1971–97. A reason that may explain why trade...

In this paper, the authors attempt to measure the importance of total trade concentration, which includes the effects through indirect linkages, and its connection to the transmission of external shocks experienced by the Thai economy.