The transmission process of financial crises across the emerging markets: an alternative consideration
This paper offers an alternative consideration for the transmission process of financial crises across emerging markets. Here, we hypothesized that the interdependence effect could weaken, even disappear completely, and veer during a crisis period as a result of the contagion process. The importance of this hypothesis for the policy implication is also highlighted because it can be validated for many cases by our data.
|Date of creation:||17 Mar 2012|
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- Hashem Pesaran & Andreas Pick, 2004.
"Econometric Issues in the Analysis of Contagion,"
Money Macro and Finance (MMF) Research Group Conference 2004
67, Money Macro and Finance Research Group.
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