Crises Contagion And The Closed

DOWNLOAD

Download Crises Contagion And The Closed PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Crises Contagion And The Closed book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page

Crises Contagion And The Closed

DOWNLOAD
Author : Mr.Angel J. Ubide
language : en
Publisher: International Monetary Fund
Release Date : 1998-09-01

Crises Contagion And The Closed written by Mr.Angel J. Ubide 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 1998-09-01 with Business & Economics categories.

This paper analyzes the behavior of closed-end country fund discounts, including evidence from the Mexican and East Asian crises. We find that the ratio of fund prices to their fundamental value increases dramatically during a crisis, an anomaly that we denote the “closed-end country fund puzzle.” Our results show that the puzzle relates directly to the fact that international investors are less (more) sensitive to changes in local (global) market conditions than domestic investors. This asymmetry implies that foreign participation in local markets can both help dampen a crisis in the originating country, and amplify the contagion to noncrisis countries.

Crises Contagion And The Closed End Country Fund Puzzle

DOWNLOAD
Author : Eduardo Levy Levy-Yeyati
language : en
Publisher:
Release Date : 2006

Crises Contagion And The Closed End Country Fund Puzzle written by Eduardo Levy Levy-Yeyati and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

This paper analyzes the behavior of closed-end country fond discounts, including evidence from the Mexican and East Asian crises. We find that the ratio of fund prices to their fundamental value increases dramatically during a crisis, an anomaly that we denote the quot;closed-end country fund puzzle.quot; Our results show that the puzzle relates directly to the fact that international investors are less (more) sensitive to changes in local (global) market conditions than domestic investors. This asymmetry implies that foreign participation in local markets can both help dampen a crisis in the originating country, and amplify the contagion to noncrisis countries.

The Uncertainty Channel Of Contagion

DOWNLOAD
Author : Mr.Prakash Kannan
language : en
Publisher: International Monetary Fund
Release Date : 2009-10-01

The Uncertainty Channel Of Contagion written by Mr.Prakash Kannan 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 2009-10-01 with Business & Economics categories.

The 2007 subprime crisis in the U.S. triggered a succession of financial crises around the globe, reigniting interest in the contagion phenomenon. Not all crises, however, are contagious. This paper models a new channel of contagion where the degree of anticipation of crises, through its impact on investor uncertainty, determines the occurrence of contagion. Incidences of surprise crises lead investors to doubt the accuracy of their informationgathering technology, which endogenously increases the probability of crises elsewhere. Anticipated crisis, instead, have the opposite effect. Importantly, this channel is empirically shown to have an independent effect beyond other contagion channels.

Transmission Of Financial Crises And Contagion

DOWNLOAD
Author : Mardi Dungey
language : en
Publisher: Oxford University Press
Release Date : 2011-01-07

Transmission Of Financial Crises And Contagion written by Mardi Dungey and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-07 with Business & Economics categories.

Financial crises often transmit across geographical borders and different asset classes. Modeling these interactions is empirically challenging, and many of the proposed methods give different results when applied to the same data sets. In this book the authors set out their work on a general framework for modeling the transmission of financial crises using latent factor models. They show how their framework encompasses a number of other empirical contagion models and why the results between the models differ. The book builds a framework which begins from considering contagion in the bond markets during 1997-1998 across a number of countries, and culminates in a model which encompasses multiple assets across multiple countries through over a decade of crisis events from East Asia in 1997-1998 to the sub prime crisis during 2008. Program code to support implementation of similar models is available.

Financial Crises Contagion And The Lender Of Last Resort A Reader

DOWNLOAD
Author : Charles Goodhart
language : en
Publisher: OUP Oxford
Release Date : 2002-01-17

Financial Crises Contagion And The Lender Of Last Resort A Reader written by Charles Goodhart and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-01-17 with categories.

Crisis And Contagion In East Asia

DOWNLOAD
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?

When In Peril Retrench

DOWNLOAD
Author : Fernando Broner
language : en
Publisher: International Monetary Fund
Release Date : 2004-07

When In Peril Retrench written by Fernando Broner 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 2004-07 with Business & Economics categories.

One plausible mechanism through which financial market shocks may propagate across countries is through the effect of past gains and losses on investors' risk aversion. We first present a simple model on how heterogeneous changes in investors' risk aversion affect portfolio decisions and stock prices. Second, we empirically show that, when funds' returns are below average, they adjust their holdings toward the average (or benchmark) portfolio. In other words, they tend to sell the assets of countries in which they were "overweight," increasing their exposure to countries in which they were "underweight." Based on this insight, we construct a matrix of financial interdependence reflecting the extent to which countries share overexposed funds. This index can improve predictions about which countries are likely to be affected by contagion from crisis centers.

International Financial Contagion

DOWNLOAD
Author : Stijn Claessens
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-04-17

International Financial Contagion written by Stijn Claessens and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-17 with Business & Economics categories.

No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great indignation every Asian economy pointed fingers. They were innocent bystanders. The fundamental reason for the crisis was this or that - most prominently contagion - but also the decline in exports of the new commodities (high-tech goods), the steep rise of the dollar, speculators, etc. The prominent question, of course, is whether contagion could really have been the key factor and, if so, what are the channels and mechanisms through which it operated in such a powerful manner. The question is obvious because until 1997, Asia's economies were generally believed to be immensely successful, stable and well managed. This question is of great importance not only in understanding just what happened, but also in shaping policies. In a world of pure contagion, i.e. when innocent bystanders are caught up and trampled by events not of their making and when consequences go far beyond ordinary international shocks, countries will need to look for better protective policies in the future. In such a world, the international financial system will need to change in order to offer better preventive and reactive policy measures to help avoid, or at least contain, financial crises.

Contagion In Financial Markets

DOWNLOAD
Author : Friedrich L. Sell
language : en
Publisher: Edward Elgar Publishing
Release Date : 2001-01-01

Contagion In Financial Markets written by Friedrich L. Sell and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-01 with Business & Economics categories.

This book aims to integrate the notions of contagion in epidemiology and contagion in financial market crises to discover why emerging markets are so susceptible to financial crises. The author first provides a brief introduction of the contagious spill-over of recent financial market crises and models the pattern of these crises. He finds that the contagion between crises in emerging markets, such as that of the crises in Russia and Brazil in 1998-1999, is explicable, despite the fact that at first sight they appear to have little in common. Finally, Friedrich Sell integrates these findings to outline a proposal for a 'new international financial architecture'.

International Contagion

DOWNLOAD
Author : Roberto Chang
language : en
Publisher: World Bank Publications
Release Date : 2000

International Contagion written by Roberto Chang 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 2000 with Bankruptcy and Resolution of Financial Distress categories.

What can the international community do to prevent financial contagion?