Vanishing financial contagion?

Journal of Policy Modeling

Volumn 30, Issue 5, 2008, Pages 775-791

  Didier, Tatiana ^a   Mauro, Paolo ^b   Schmukler, Sergio L ^c  

^a MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

^b INTERNATIONAL MONETARY FUND   (United States)

^c WORLD BANK   (United States)

Author keywords

Crises; International financial integration; International transmission of shocks

Indexed keywords

EID: 50149109211     PISSN: 01618938     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jpolmod.2007.09.008     Document Type: Article

References (38)

1. Allen F., and Gale D. Financial contagion. Journal of Political Economy 108 1 (2000) 1-33
2. Baig T., and Goldfajn I. Financial market contagion in the Asian crisis. IMF Staff Papers 46 2 (1999) 167-195
3. Becker, T., Jeanne, O., Mauro, P., Ostry, J. D., & Rancière, R. (2007). Country insurance-The role of domestic policies. IMF occasional paper no. 254.
4. Bikhchandani S., and Sharma S. Herd behavior in financial markets. IMF Staff Papers 47 3 (2000) 279-310
5. Borensztein E., and Gelos G. A panic-prone pack? The behavior of emerging market mutual funds. IMF Staff Papers 50 1 (2003) 43-63
6. Borensztein E., and Mauro P. The case for GDP-indexed bonds. Economic Policy 38 (2004) 165-216
7. Broner F., Gelos G., and Reinhart C. When in peril, retrench: Testing the portfolio channel of contagion. Journal of International Economics 69 1 (2006) 203-230
8. Calvo G., and Mendoza E. Rational contagion and the globalization of securities markets. Journal of International Economics 51 1 (2000) 79-113
9. Caramazza F., Ricci L., and Salgado R. International financial contagion in currency crises. Journal of International Money and Finance 23 1 (2004) 51-70
10. Chamley C. Rational herds: Economic models of social learning (2004), Cambridge University Press, Cambridge, United Kingdom
11. Choe H., Kho B.C., and Stulz R. Do foreign investors destabilize stock markets? The Korean experience in 1997. Journal of Financial Economics 54 2 (1999) 227-264
12. Cordella T., and Levy-Yeyati E. A (new) country insurance facility. International Finance 9 1 (2006) 1-36
13. Eichengreen B., and Rose A. Contagious currency crises: Channels of conveyance. In: Ito T., and Krueger A. (Eds). Changes in exchange rates in rapidly developing countries: Theory, practice, and policy issues (1999), University of Chicago Press 29-50
14. Fitch Ratings. (2005). Emerging market outlook 2005, 27 January.
15. Forbes, K. (2001). Are trade links important determinants of country vulnerability to crises? NBER working paper no. 8194. Cambridge, Massachusetts: National Bureau of Economic Research.
16. Forbes K. The Asian flu and Russian virus: The international transmission of crises in firm-level data. Journal of International Economics 63 1 (2004) 59-92
17. Forbes K., and Rigobon R. No contagion, only interdependence: Measuring stock market co-movements. Journal of Finance 57 5 (2002) 2223-2261
18. Glick R., and Rose A. Contagion and trade: Why are currency crises regional?. Journal of International Money and Finance 18 4 (1999) 603-617
19. Goldstein, M. (2005). What might the next emerging-market financial crisis look like? Institute for international economics working paper 05-07. Washington.
20. International Monetary Fund. (2004). Global financial stability report, Chapter IV. September, Washington.
21. International Monetary Fund. (2005). Global financial stability report. September, Washington.
22. International Monetary Fund. (2007). Further consideration of a new liquidity instrument for market access countries-design issues. www.imf.org/external/pp/longres.aspx?id=4044.
23. Kaminsky, G., Carmen R., & Vegh, C. 2002. Two hundred years of contagion. University of Maryland (unpublished).
24. Kaminsky G., Lyons R., and Schmukler S.L. Managers, investors, and crises: Mutual fund strategies in emerging markets. Journal of International Economics 64 1 (2004) 113-134
25. Kaminsky G., and Reinhart C. On crises, contagion, and confusion. Journal of International Economics 51 1 (2000) 145-168
26. Kaminsky G., Reinhart C., and Vegh C. The unholy trinity of financial contagion. Journal of Economic Perspectives 17 4 (2003) 51-74
27. Kim W., and Wei S.-J. Foreign portfolio investors before and during a crisis. Journal of International Economics 56 1 (2002) 77-96
28. Kodres L., and Pritsker M. A rational expectation model of financial contagion. Journal of Finance 57 2 (2002) 769-799
29. Lane, P. R., & Milesi-Ferretti, G. M. (2006). The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970-2004. IMF working paper no. 06/69.
30. Martinez Peria M.S., Powell A., and Vladkova-Hollar I. Banking on foreigners: The behavior of international bank claims on Latin America, 1985-2000. IMF Staff Papers 53 3 (2005) 430-461
31. Mauro P., Sussman N., and Yafeh Y. Emerging markets and financial globalization: Sovereign bond spreads in 1870-1913 and today (2006), Oxford University Press
32. Morgan, J. P. (2004). Emerging markets external debt as an asset class, October 24.
33. Rajan, R. (2005). Has financial development made the world riskier? NBER working paper no. 11728. Cambridge, Massachusetts: National Bureau of Economic Research.
34. Reuters News. (2001). Asia seems insulated from Argentina risk, October 29.
35. Reuters News. (2002). Asian cooperation simmers as crisis worries fade, June 30.
36. Schnabel I., and Shin H.S. Liquidity and contagion: The crisis of 1763. Journal of the European Economic Association 2 6 (2004) 929-968
37. E. M. Truman (Ed.), (2006). Reforming the IMF for the 21st century. Special report 19. Washington, DC: Institute for International Economics.
38. Van Rijckeghem C., and Weder B. Sources of contagion: Is it finance or trade?. Journal of International Economics 54 2 (2001) 293-308