Vanishing Financial Contagion?

While a number of crises in emerging markets generated widespread contagion in financial markets during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some observers to wonder whether contagion might have become a feature of the...

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Main Authors: Didier, Tatiana, Mauro, Paolo, Schmukler, Sergio L.
Format: Journal Article
Language:EN
Published: 2012
Subjects:
Online Access:http://hdl.handle.net/10986/5650
id okr-10986-5650
recordtype oai_dc
spelling okr-10986-56502021-04-23T14:02:23Z Vanishing Financial Contagion? Didier, Tatiana Mauro, Paolo Schmukler, Sergio L. Current Account Adjustment Short-term Capital Movements F320 Economic Development: Financial Markets Saving and Capital Investment Corporate Finance and Governance O160 International Linkages to Development Role of International Organizations O190 While a number of crises in emerging markets generated widespread contagion in financial markets during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some observers to wonder whether contagion might have become a feature of the past, with financial markets now better discriminating between emerging countries with good and bad fundamentals. Available data suggest that the main channels that contribute to transmitting financial crises across countries are--if anything--even stronger today than in the 1990s. Moreover, anticipation by international investors may help to explain the near-absence of contagion in the context of the Argentine crisis. This paper argues that a prudent working assumption is that financial contagion has not vanished. 2012-03-30T07:33:51Z 2012-03-30T07:33:51Z 2008-09 Journal Article Journal of Policy Modeling 01618938 http://hdl.handle.net/10986/5650 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank Journal Article Argentina
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language EN
topic Current Account Adjustment
Short-term Capital Movements F320
Economic Development: Financial Markets
Saving and Capital Investment
Corporate Finance and Governance O160
International Linkages to Development
Role of International Organizations O190
spellingShingle Current Account Adjustment
Short-term Capital Movements F320
Economic Development: Financial Markets
Saving and Capital Investment
Corporate Finance and Governance O160
International Linkages to Development
Role of International Organizations O190
Didier, Tatiana
Mauro, Paolo
Schmukler, Sergio L.
Vanishing Financial Contagion?
geographic_facet Argentina
relation http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description While a number of crises in emerging markets generated widespread contagion in financial markets during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some observers to wonder whether contagion might have become a feature of the past, with financial markets now better discriminating between emerging countries with good and bad fundamentals. Available data suggest that the main channels that contribute to transmitting financial crises across countries are--if anything--even stronger today than in the 1990s. Moreover, anticipation by international investors may help to explain the near-absence of contagion in the context of the Argentine crisis. This paper argues that a prudent working assumption is that financial contagion has not vanished.
format Journal Article
author Didier, Tatiana
Mauro, Paolo
Schmukler, Sergio L.
author_facet Didier, Tatiana
Mauro, Paolo
Schmukler, Sergio L.
author_sort Didier, Tatiana
title Vanishing Financial Contagion?
title_short Vanishing Financial Contagion?
title_full Vanishing Financial Contagion?
title_fullStr Vanishing Financial Contagion?
title_full_unstemmed Vanishing Financial Contagion?
title_sort vanishing financial contagion?
publishDate 2012
url http://hdl.handle.net/10986/5650
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