Sources of contagion / Caroline Van Rijckeghem    

Public ISBD Titre : Sources of contagion : is it finance or trade? Type de document : document électronique Auteurs : Caroline Van Rijckeghem, Auteur ; Beatrice Weder, Auteur Editeur : IMF Année de publication : October 1999 Collection : Working Paper num. 146 Importance : 28 p Langues : Anglais (eng) Catégories : Crise économique et financière Tags : Crise financière  Commerce mondial  Finance international  Banques Résumé : 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 competition for bank funds and find evidence in favor of a common lender effect in the Mexican, Thai, and Russian crises, after controlling for the degree of trade competition and macroeconomic fundamentals. The results are quite robust to the definition of the finance indicator. In the case of the Asian crisis, results are not always robust to the inclusion of trade competition, reflecting the high correlation between competition for funds and trade. En ligne : https://www.imf.org/external/pubs/ft/wp/1999/wp99146.pdf Sources of contagion : is it finance or trade? [document électronique] / Caroline Van Rijckeghem, Auteur ; Beatrice Weder, Auteur . - [S.l.] : IMF, October 1999 . - 28 p. - (Working Paper; 146) . Langues : Anglais (eng) Catégories : Crise économique et financière Tags : Crise financière  Commerce mondial  Finance international  Banques Résumé : 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 competition for bank funds and find evidence in favor of a common lender effect in the Mexican, Thai, and Russian crises, after controlling for the degree of trade competition and macroeconomic fundamentals. The results are quite robust to the definition of the finance indicator. In the case of the Asian crisis, results are not always robust to the inclusion of trade competition, reflecting the high correlation between competition for funds and trade. En ligne : https://www.imf.org/external/pubs/ft/wp/1999/wp99146.pdf

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