Contagion: Understanding How It Spreads

By R. Dornbusch, Y. Park, Stijn Claessens. 2000

821 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/3c638f6448b6ca369f9791cfcdb98dcb23a2f3eb

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. Dinesh Gajurel
2. Renée Fry
3. Mardi Dungey
4. Vance L. Martin
5. Chrismin Tang
6. Buerhan Saiti
7. N. Biekpe
8. P. Agénor

In Finance

1. Dinesh Gajurel
2. Mardi Dungey
3. Renée Fry
4. Vance L. Martin
5. Chrismin Tang
6. Buerhan Saiti
7. N. Biekpe
8. P. Agénor

Citations in the corpus

• Benefits and Costs of International Financial Integration: Theory and Facts (2001, background): “…outflows triggered by a perceived increase by international investors in the vulnerability of a country's currency, or, more generally, a loss of confidence in the country's economic prospects, as a result of developments elsewhere (see Dornbusch, Park, and Claessens (2000), and Masson (2000)).”
• Contagion: a fear for African equity markets? (2003, background): “Dornbusch, Park, and Claessens (2000) separate the causes of contagion into two categories.”
• Testing the Conventional and Islamic Financial Market Contagion: Evidence from Wavelet Analysis (2016, background): “The main distinction when defining contagion is between “fundamentals-based” and “pure” contagion (see Dornbusch, Park, and Claessens 2000; Kaminsky and Reinhart 2000).”
• Contagion and Banking Crisis - International Evidence for 2007-2009 (2015, background): “tries, that is b2 6= 0 as reported in Table 3, consistent with these markets experiencing systematic contagion during the crisis, and prior evidence on structural breaks in the relationship with global conditions during crisis periods (Dornbusch et al., 2000; Dungey et al., 2005).”
• Contagion as a domino effect in global stock markets (2009, positive): “Dornbusch et al. (2000) argue that this type of dependence is a result of ‘‘irrational” phenomena, such as financial panic, herd behavior and loss of confidence.”
• Does sovereign debt ratings news spill over to international stock markets (2007, background): “At the same time, either rational behavior due to liquidity constraints or irrational herding of investors and financial and real sector linkages across countries can act as transmission vehicles for country shocks (Dornbusch et al., 2000; Karolyi, 2003).”
• The subprime credit crisis and contagion in financial markets (2010, background): “For example, Dornbusch, Park, and Claessens (2000) describe direct effects occurring through fundamentals such as trade links.”
• Determinants of Financial Stress in Emerging Market Economies (2014, neutral): “Earlier studies classified the causes of financial contagion into two broad categories (Calvo and Reinhart, 1996; Dornbusch et al., 2000; Kaminsky and Reinhart, 1999, 2000; Moser, 2003).”
• Financial Globalization: Gain and Pain for Developing Countries (2003, neutral): “18 Dornbusch, Park, and Claessens (2000) survey the literature on contagion.”
• Currency crisis contagion and the identification of transmission channels (2008, background): “Some of the major ones cited in the literature include direct financial linkages, liquidity and incentive problems and herd behavior (see Dornbusch et al., 2000 for an elaborate classification).”