International Financial Contagion

Editors: Claessens, Stijn, Forbes, Kirsten (Eds.)

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About this book

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.

Reviews

`It is difficult to avoid being impressed by the very high level of quality in this research collection. For those who attended the conference meetings, this comes as no surprise since the atmosphere was wonderfully dynamic and full of tough give and take. That flavor is not lost in this more formal rendition. Before this conference, very little was available in this area. Policy makers, policy research departments and students of emerging-market finance will find a wealth of information in this book. They will also find some answers, plenty of controversy, and lots of open questions.'
Rudiger Dornbusch, Massachusetts Institute of Technology

Table of contents (16 chapters)

  • International Financial Contagion: An Overview of the Issues and the Book

    Claessens, Stijn (et al.)

    Pages 3-17

    Preview Buy Chapter 30,19 €
  • Contagion: Why Crises Spread and How This Can Be Stopped

    Claessens, Stijn (et al.)

    Pages 19-41

    Preview Buy Chapter 30,19 €
  • Measuring Contagion: Conceptual and Empirical Issues

    Forbes, Kristin (et al.)

    Pages 43-66

    Preview Buy Chapter 30,19 €
  • The Channels for Financial Contagion

    Pritsker, Matt

    Pages 67-95

    Preview Buy Chapter 30,19 €
  • Crisis Transmission: Evidence from the Debt, Tequila, and Asian Flu Crises

    Gregorio, José (et al.)

    Pages 99-127

    Preview Buy Chapter 30,19 €

Buy this book

eBook 178,49 €
price for Spain (gross)
  • ISBN 978-1-4757-3314-3
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 227,76 €
price for Spain (gross)
  • ISBN 978-0-7923-7285-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
Softcover 227,76 €
price for Spain (gross)
  • ISBN 978-1-4419-4876-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
International Financial Contagion
Editors
  • Stijn Claessens
  • Kirsten Forbes
Copyright
2001
Publisher
Springer US
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-1-4757-3314-3
DOI
10.1007/978-1-4757-3314-3
Hardcover ISBN
978-0-7923-7285-1
Softcover ISBN
978-1-4419-4876-2
Edition Number
1
Number of Pages
XII, 466
Topics