Unanticipated Shocks and Systemic Influences : the Impact of Contagion in Global Equity Markets in 1998 /
August to September 1998 has been characterized as one of the worst episodes of global financial distress in decades. This paper investigates the transmission of the Russian and the LTCM crises through global equity markets using a panel of 14 developing and industrial countries. The results show th...
| Main Authors: | , |
|---|---|
| Corporate Author: | |
| Other Authors: | , , , |
| Format: | Book |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2003
Washington, D.C. : 2003 |
| Series: | IMF Working Papers ;
Working Paper No. 03/84 IMF Working Papers; Working Paper ; No. 2003/084 IMF eLibrary IMF working paper (Online) ; no. 03/84 |
| Subjects: |
| Summary: | August to September 1998 has been characterized as one of the worst episodes of global financial distress in decades. This paper investigates the transmission of the Russian and the LTCM crises through global equity markets using a panel of 14 developing and industrial countries. The results show that contagion was systemic during the period, with industrial countries providing the dominant cross-country transmission linkages. Both crises reinforced each other, highlighting the importance of studying them jointly. An implication of the empirical results is that models of contagion that exclude industrial countries are potentially misspecified and may yield misleading outcomes |
|---|---|
| Item Description: | Available in PDF, ePUB, and Mobi formats on the Internet Bibliographic Level Mode of Issuance: Monograph Part of the IMF eLibrary collection |
| Physical Description: | 1 online resource (28 pages) |
| ISBN: | 1-281-60218-3 1-4518-9681-6 1-4527-5025-4 1-4623-8730-6 1281602183 1451850662: 1451896816 1452750254 1462387306 6613782874 9781281602183 9781451896817 9781452750255 9781462387304 9786613782878 |
| ISSN: | 1018-5941 2227-8885 2227-8885 ; |
| Access: | Restricted for use by site license Restricted for use by site license. |