Since the Tequila crisis of 1994–1995, the Asian flu of 1997, and the Russian virus of 1998,
economists have been busy producing research on the subject of contagion. Yet, few …

Much of the current debate on reforming the international financial architecture is aimed at
reducing the risks of contagion—best defined as a significant increase in cross-market …

This paper presents evidence on the relative importance of alternative contagion channels
during the Thai, Russian, and Brazilian crises. Results show that when crises are measured …

Recent events have drawn attention to the issue of contagion. Dependencies among
countries, including through trade links, will cause shocks to an individual country (or group …

This paper presents evidence that spillovers through bank lending, as opposed to trade
linkages and country characteristics, can help explain contagion. We construct a measure of …

The world suffered three major financial crises in the last ten years, namely, the European
Monetary System (EMS) crisis in 1992–1993, the Mexican crisis in 1994–1995 (which …

The 1990's has been punctuated by a series of severe financial and currency crises: the
Exchange Rate Mechanism (ERM) attacks of 1992; the Mexican peso collapse of 1994; the …

The issue of contagion has been one of the most debated topics in international finance
since the Asian crises. One interesting aspect of this discussion is the strong agreement …

The recent series of financial crises in emerging markets, the Mexican crisis of 1994-95 and
the Asian crisis of 1997-98, closely followed by the devaluations of the ruble and the real …

Despite the growing popularity of blaming 'contagion'for international financial crises,
contagion remains an elusive concern. Without a clear understanding of financial contagion …