This paper expands the current body of literature on the empirical evidence of stock market contagion by measuring the occurrence of contagion across 42 countries during nine financial events. The selected list of events includes those that have been commonly tested as well as those that are...

Most empirical research on contagion in financial markets neglects smaller, frontier markets like those found in Africa. In this paper, contagion is measured on sector-by-sector basis for six African equity markets. Although evidence of coontagion ispresent in both the Asian and Russian crises,...