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| Author | : Mr.F. Gulcin Ozkan |
| Publisher | : International Monetary Fund |
| Total Pages | : 58 |
| Release | : 2012-12-13 |
| Genre | : Business & Economics |
| ISBN | : 1475551169 |
Download Global Financial Crisis, Financial Contagion, and Emerging Markets Book in PDF, ePub and Kindle
The recent global financial crisis was the first in recent history that was triggered by problems in the financial system of the mature economies. Existing work on financial crisis in emerging market countries, however, almost exclusively focus on the role of financial frictions in the domestic economy. In contrast, we propose a two-country DSGE model to investigate the transmission of a global financial crisis that originates from financial frictions in the rest of the world. We find that the scale of financial spillovers from the global to the domestic economy and trade openness are key determinants of the severity of the financial crisis for the domestic economy. Our results also suggest that the welfare ranking of alternative monetary policy regimes is determined by the degree of financial contagion, the degree of trade openness as well as the scale of foreign currency denominated debt in the domestic economy.
| Author | : Gülçin Özkan |
| Publisher | : |
| Total Pages | : 57 |
| Release | : 2012 |
| Genre | : Financial crises |
| ISBN | : |
Download Global Financial Crisis, Financial Contagion and Emerging Markets Book in PDF, ePub and Kindle
"The recent global financial crisis was the first in recent history that was triggered by problems in the financial system of the mature economies. Existing work on financial crisis in emerging market countries, however, almost exclusively focus on the role of financial frictions in the domestic economy. In contrast, they propose a two-country DSGE model to investigate the transmission of a global financial crisis that originates from financial frictions in the rest of the world. They find that the scale of financial spillovers from the global to the domestic economy and trade openness are key determinants of the severity of the financial crisis for the domestic economy. Their results also suggest that the welfare ranking of alternative monetary policy regimes is determined by the degree of financial contagion, the degree of trade openness as well as the scale of foreign currency denominated debt in the domestic economy."--Abstract.
| Author | : Stijn Claessens |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 461 |
| Release | : 2013-04-17 |
| Genre | : Business & Economics |
| ISBN | : 1475733143 |
Download International Financial Contagion Book in PDF, ePub and Kindle
No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great indignation every Asian economy pointed fingers. They were innocent bystanders. The fundamental reason for the crisis was this or that - most prominently contagion - but also the decline in exports of the new commodities (high-tech goods), the steep rise of the dollar, speculators, etc. The prominent question, of course, is whether contagion could really have been the key factor and, if so, what are the channels and mechanisms through which it operated in such a powerful manner. The question is obvious because until 1997, Asia's economies were generally believed to be immensely successful, stable and well managed. This question is of great importance not only in understanding just what happened, but also in shaping policies. In a world of pure contagion, i.e. when innocent bystanders are caught up and trampled by events not of their making and when consequences go far beyond ordinary international shocks, countries will need to look for better protective policies in the future. In such a world, the international financial system will need to change in order to offer better preventive and reactive policy measures to help avoid, or at least contain, financial crises.
| Author | : Rob Quail |
| Publisher | : John Wiley & Sons |
| Total Pages | : 570 |
| Release | : 2011-02-09 |
| Genre | : Business & Economics |
| ISBN | : 1118016521 |
Download Financial Contagion Book in PDF, ePub and Kindle
"Financial Contagion: The Viral Threat to the Wealth of Nations covers a lot of territory. It is, of course, terribly important to analyze case histories to discover potential triggers, mechanisms of transmission, and viable ways to contain the damage of financial contagion. The problem is, as these articles amply demonstrate, that there’s always a new virus or a mutation of a former one lurking in some corner of the financial world. We don’t know what it is or where it is. And, even if we had some inkling, there’s almost never enough time to develop a financial flu shot." --SeekingAlpha.com The latest insights on financial contagion and how both nations and investors can effectively deal with it. The domino-style structure in which the financial system exists is a perilous one. Although historically, the financial system has been able to deal with major shocks, the fact remains that our financial system is not as secure as it should be. Recent years have brought about too many examples of contagion and systemic risk. That is why Financial Contagion is such an important read. In it, the serious concerns that revolve around our fragile economic system are investigated, researched, and explained. Throughout the book, Kolb offers valuable insights on this dilemma as he compiles the history of financial contagion, highlights the latest research on systemic failure and interrelated markets, and analyzes the risks and consequences we face moving forward. Examines the importance of careful regulation and what must be done to stabilize the global financial system Includes contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Details how close we are to witnessing a financial contagion that could devastate the world economy We have been harshly reminded of how fragile our economic ecosystem is. With Financial Contagion, you'll hold a better understanding of what needs to be done to strengthen our system and safeguard our financial future.
| Author | : Shalendra D. Sharma |
| Publisher | : Cambridge University Press |
| Total Pages | : 405 |
| Release | : 2014 |
| Genre | : Business & Economics |
| ISBN | : 1107027209 |
Download Global Financial Contagion Book in PDF, ePub and Kindle
This book is an authoritative account of the economic and political roots of the 2008 financial crisis. It examines why it was triggered in the United States, why it morphed into the Great Recession, and why the contagion spread with such ferocity around the globe. It also examines how and why economies - including the Eurozone, Russia, China, India, East Asia, and the Middle East - have been impacted and explores their response to the unprecedented challenges of the crisis and the effectiveness of their policy measures. Global Financial Contagion specifically looks at how the Obama administration's policy missteps have contributed to America's huge debt and slow recovery, why the Eurozone's response to its existential crisis has become a never-ending saga, and why the G-20's efforts to create a new international financial architecture may fall short. This book will long be regarded as the standard account of the crisis and its aftermath.
| Author | : Carol Wise |
| Publisher | : Brookings Institution Press |
| Total Pages | : 258 |
| Release | : 2015-03-10 |
| Genre | : Political Science |
| ISBN | : 0815724772 |
Download Unexpected Outcomes Book in PDF, ePub and Kindle
This volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in 2008-2009. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why? This volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest with macroeconomic restructuring and trade reform. Old labels used to describe "neoliberal versus developmentalist" strategies do not accurately capture the foundations of this recovery. These authors argue that policy learning and institutional reforms adopted in response to previous crises prompted policymakers to combine state and market approaches in effectively coping with the global financial crisis. The nations studied include Korea, China, India, Mexico, Argentina, and Brazil, accompanied by Latin American and Asian regional analyses that bring other emerging markets such as Chile and Peru into the picture. The substantial differences among the nations make their shared success even more remarkable and worthy of investigation. And although 2012 saw slowed growth in some emerging market nations, the authors argue this selective slowing suggests the need for deeper structural reforms in some countries, China and India in particular.
| Author | : Jonathan Batten |
| Publisher | : Emerald Group Publishing |
| Total Pages | : 732 |
| Release | : 2011-03-02 |
| Genre | : Business & Economics |
| ISBN | : 0857247549 |
Download The Impact of the Global Financial Crisis on Emerging Financial Markets Book in PDF, ePub and Kindle
The Global Financial Crisis of 2007-2009 has highlighted the resilience of the financial markets and economies from the developing world. This title investigates and assesses the impact and response to the crisis from an emerging markets perspective including asset pricing, contagion, financial intermediation, market structure and regulation.
| Author | : Padma Desai |
| Publisher | : Princeton University Press |
| Total Pages | : 326 |
| Release | : 2003 |
| Genre | : Business & Economics |
| ISBN | : 9780691113920 |
Download Financial Crisis, Contagion, and Containment Book in PDF, ePub and Kindle
A sweeping critical account of the financial crises that rocked East Asia and other parts of the world beginning with the collapse of the Thai baht in 1997. Padma Desai retraces the story of Asia's "Crisis Five"--Indonesia, Malaysia, South Korea, the Philippines and Thailand.
| Author | : Cayón, Edgardo |
| Publisher | : Editorial CESA |
| Total Pages | : 103 |
| Release | : 2015-06-30 |
| Genre | : Business & Economics |
| ISBN | : 9588722845 |
Download The Effects of financial contagion during the Global Financial Crisis in Government Regulated And Sponsored Assets in Emerging Markets. The case of Colombian pension funds and State Owned Enterprises (SOEs) in BRIC countries Book in PDF, ePub and Kindle
The effects of financial contagion during the Global Financial Crisis (GFC) have been extensively studied in the finance literarure. One of the key issues is the devastating effect of the crisis on wealth and asset prices. However, one key difference between this crisis and other crises in the past was the resilience (immunity) or the short term effect of the crisis on emerging markets. Dooley and Hutchison (2009) were the first ones to find evidence in support of the decoupling hypothesis of emerging markets during the early phases of the crisis. Since then the hypothesis have been tested by other researchers (for recent surveys see: Beirne and Gieck, 2014; Koksal and Orhan, 2013).
| Author | : Mr.Paul R. Masson |
| Publisher | : International Monetary Fund |
| Total Pages | : 26 |
| Release | : 1999-12-01 |
| Genre | : Business & Economics |
| ISBN | : 1451857977 |
Download Multiple Equilibria, Contagion, and the Emerging Market Crises Book in PDF, ePub and Kindle
The paper surveys the types of models producing multiple equilibria in financial markets. It argues that such models are consistent with observed phenomena, such as the greater volatility of financial asset prices than of macroeconomic fundamentals. Alternative explanations are compared with the stylized facts concerning capital flows, portfolio shifts, and exchange rate crises. Implications for crisis prediction and prevention are then discussed.
