Contagion In The East
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Crisis And Contagion In East Asia
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Author : Masahiro Kawai
language : en
Publisher: World Bank Publications
Release Date : 2001
Crisis And Contagion In East Asia written by Masahiro Kawai and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Banks and banking categories.
Currency and banking crises such as those originating in Mexico (1994), Thailand (1997), and the Russian Federation (1998) tend to be associated and often take place together across countries. The East Asian experience was a fruitful laboratory for examining key questions. For example: How did contagion occur so extensively, and why was it so devastating? Did policy responses to crises and contagion minimize their impact on the real economy? What type of international financial architecture is needed to prevent and manage crises and contagion?
Crisis And Contagion In East Asia
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Author : Sergio L. Schmukler
language : en
Publisher:
Release Date : 2016
Crisis And Contagion In East Asia written by Sergio L. Schmukler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Currency and banking cris ...
Volatility And Contagion In A Financially Integrated World
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Author :
language : en
Publisher: World Bank Publications
Release Date : 1998
Volatility And Contagion In A Financially Integrated World written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Asset-liability management categories.
November 1998 Recent events in East Asia highlighted the risks of weak financial institutions and distorted incentives in a financially integrated world. These weaknesses led to two sources of vulnerability: East Asia's rapid buildup of contingent liabilities, and overreliance on short-term foreign borrowing. The buildup of vulnerabilities in East Asia is shown here to be mainly the result of weaknesses in financial intermediation, poor corporate governance, and deficient government policies, including pro-cyclical macroeconomic policy responses to large capital inflows. Weak due diligence by external creditors, fueled partly by ample global liquidity, also played a role but global factors were more important in triggering the crises than in causing them. The crisis occurred partly because the economies lacked the institutional and regulatory structure to cope with increasingly integrated capital markets. Trouble arose from private sector decisions (by both borrowers and lenders) but governments created incentives for risky behavior and exerted little regulatory authority. Governments failed to encourage the transparency needed for the market to recognize and correct such problems as unreported mutual guarantees, insider relations, and nondisclosure of banks' and companies' true net positions. Domestic weaknesses were aggravated by poorly disciplined foreign lending. The problem was not so much overall indebtedness as the composition of debt: a buildup of short-term unhedged debt left the economies vulnerable to a sudden loss of confidence. The same factors made the crisis's economic and social impact more severe than some anticipated. The loss of confidence directly affected private demand-both investment and consumption-which could not be offset in the short run by net external demand. The effect on corporations and financial institutions has been severe because of the high degree of leveraging and the unhedged, short-term nature of foreign liabilities, which has led to a severe liquidity crunch. Domestic recession, financial and corporate distress, liquidity constraints, and political uncertainty were self-reinforcing, leading to a severe downturn. This paper-a joint product of the Economic Policy Unit, Poverty Reduction and Economic Management Network and the Central Bank of Chile-was presented at the CEPR/World Bank conference Financial Crises: Contagion and Market Volatility, May 8-9, 1998, London, and at the PAFTAD 24 conference, Asia Pacific Financial Liberation and Reform, May 20-22, 1998, in Chiangmai, Thailand. Pedro Alba may be contacted at [email protected].
Contagion In The East
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Author :
language : en
Publisher:
Release Date : 2000
Contagion In The East written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with East Asia categories.
Extreme Contagion In Equity Markets
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Author : Jorge A. Chan-Lau
language : en
Publisher: International Monetary Fund
Release Date : 2002-05
Extreme Contagion In Equity Markets written by Jorge A. Chan-Lau and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-05 with Business & Economics categories.
This study uses bivariate extremal dependence measures, based on the number of equity return co-exceedances in two markets, to quantify both negative and positive equity returns contagion in mature and emerging equity markets during the past decade. The results indicate (a) higher contagion for negative returns than for positive returns; (b) a secular increase in contagion in Latin America not matched in other regions; (c) global increases in contagion following the 1998 financial crises; and (d) that the use of simple correlations as a proxy for contagion could be misleading, as the former exhibit low correlation with extremal dependence measures of contagion.
Contagion In Prussia 1831
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Author : Richard S. Ross III
language : en
Publisher: McFarland
Release Date : 2015-09-22
Contagion In Prussia 1831 written by Richard S. Ross III and has been published by McFarland this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-22 with History categories.
In 1831, Prussia was consumed by two fears: the possibility of revolution resulting from the 1830 November Uprising of Poland against Russia, and a looming cholera epidemic. As the contagion made its way across Russia, Prussian medical officials took note and prepared to respond to what they thought was a highly contagious disease. When it spread to Poland, Prussia instituted a strict quarantine policy on its border, inhibiting Prussian support of the Russian war effort in Poland. From the Polish perspective the quarantine was seen as a deliberate act of sabotage against the revolution, an attempt to cut off trade with the West. This book examines the Prussian government's strict health policy and its consequences, including social unrest and resulting public health reforms. Polish public health policy is investigated in light of the revolutionary government's needs. Information is provided on the cholera camps established by Prussia to quarantine Polish soldiers who crossed the border as refugees in July 1831, the height of the cholera fear in Prussia.
Volatility And Contagion In A Financially Integrated World
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Author : Pedro Alba
language : en
Publisher:
Release Date : 2016
Volatility And Contagion In A Financially Integrated World written by Pedro Alba and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Recent events in East Asi ...
Asian Contagion
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Author : Karl Jackson
language : en
Publisher: Routledge
Release Date : 2018-03-05
Asian Contagion written by Karl Jackson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-05 with Political Science categories.
For much of the second half of the twentieth century, the Asian economic "miracle" has fueled the greatest expansion of wealth for the largest population in the history of mankind. In the summer of 1997, thirty years of economic boom came crashing back to earth. The reality of unrestrained speculation, inefficiently regulated currency exchange, banking instability and bad loans have struck the much-vaunted "Asian Tigers" like Thailand, Indonesia, Korea, and, finally, Japan, casting a shadow of uncertainty on a region recently to the fore in the world economic system. Recovery depends largely on reform within the Asian economies themselves and a cold assessment of the structural weaknesses that lay under the surface, but only now have come to light. The implications for world economies and, more broadly, the dynamics of world politics, are tremendous.
Routes Of Contagion
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Author : André Siegfried
language : en
Publisher: New York : Harcourt, Brace & World
Release Date : 1965
Routes Of Contagion written by André Siegfried and has been published by New York : Harcourt, Brace & World this book supported file pdf, txt, epub, kindle and other format this book has been release on 1965 with Language Arts & Disciplines categories.
Vanishing Contagion
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Author : Mr.Sergio L. Schmukler
language : en
Publisher: International Monetary Fund
Release Date : 2006-01-01
Vanishing Contagion written by Mr.Sergio L. Schmukler and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Business & Economics categories.
While a number of emerging market crises were characterized by widespread contagion during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some observers to wonder whether contagion might have become a feature of the past, with markets now better discriminating between countries with good and bad fundamentals. This paper argues that a prudent working assumption is that contagion has not vanished permanently. Available data do not seem to point to a disappearance of the main channels that contribute to transmitting crises across countries. Moreover, anticipation of the Argentine crisis by international investors may help explain the recent absence of contagion.