The Slow Spread Of The Global Crisis
AbstractWe argue that the depth and breadth of the spread of the current crisis from the US subprime market across the globe was due more to the buildup of substantial financial vulnerabilities prior to the crisis than to irrational panic during the crisis. We examine how these developments explain the belated recognition of the severity of the crisis and its slow spread through various channels of contagion. We also discuss lessons for policy and research.
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Bibliographic InfoArticle provided by World Scientific Publishing Co. Pte. Ltd. in its journal Journal of International Commerce, Economics and Policy.
Volume (Year): 01 (2010)
Issue (Month): 01 ()
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Find related papers by JEL classification:
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
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