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:	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
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
_version_	1764395817666347008

Vanishing Financial Contagion?

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