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International Financial Contagion

Author : Stijn Claessens
Publisher : Springer Science & Business Media
ISBN 13 : 1475733143
Total Pages : 461 pages
Book Rating : 4.4/5 (757 download)

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Book Synopsis International Financial Contagion by : Stijn Claessens

Download or read book International Financial Contagion written by Stijn Claessens and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 of Bank Failures (RLE Banking & Finance)

Author : Sangkyun Park
Publisher : Routledge
ISBN 13 : 1136300775
Total Pages : 217 pages
Book Rating : 4.1/5 (363 download)

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Book Synopsis Contagion of Bank Failures (RLE Banking & Finance) by : Sangkyun Park

Download or read book Contagion of Bank Failures (RLE Banking & Finance) written by Sangkyun Park and published by Routledge. This book was released on 2014-04-16 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the vulnerability of sound banks during financial crises helps understand the nature of financial crises and other banking issues traces the history of banking reform in the United States from 1933 until 1992 discusses deregulation in the US banking system

Global Financial Contagion

Author : Shalendra D. Sharma
Publisher : Cambridge University Press
ISBN 13 : 1107027209
Total Pages : 405 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Global Financial Contagion by : Shalendra D. Sharma

Download or read book Global Financial Contagion written by Shalendra D. Sharma and published by Cambridge University Press. This book was released on 2014 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an authoritative account of the economic and political roots of the 2008 financial crisis. It examines why it was triggered in the United States, why it morphed into the Great Recession, and why the contagion spread with such ferocity around the globe. It also examines how and why economies - including the Eurozone, Russia, China, India, East Asia, and the Middle East - have been impacted and explores their response to the unprecedented challenges of the crisis and the effectiveness of their policy measures. Global Financial Contagion specifically looks at how the Obama administration's policy missteps have contributed to America's huge debt and slow recovery, why the Eurozone's response to its existential crisis has become a never-ending saga, and why the G-20's efforts to create a new international financial architecture may fall short. This book will long be regarded as the standard account of the crisis and its aftermath.

Financial Contagion Through Bank Deleveraging

Author : Mr.Thierry Tressel
Publisher : International Monetary Fund
ISBN 13 : 1455209368
Total Pages : 39 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Financial Contagion Through Bank Deleveraging by : Mr.Thierry Tressel

Download or read book Financial Contagion Through Bank Deleveraging written by Mr.Thierry Tressel and published by International Monetary Fund. This book was released on 2010-10-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis has highlighted the importance of various channels of financial contagion across countries. This paper first presents stylized facts of international banking activities during the crisis. It then describes a simple model of financial contagion based on bank balance sheet identities and behavioral assumptions of deleveraging. Cascade effects can be triggered by bank losses or contractions of interbank lending activities. As a result of shocks on assets or on liabilities of banks, a global deleveraging of international banking activities can occur. Simple simulations are presented to illustrate the use of the model and the relative importance of contagion channels, relying on bank losses of advanced countries’ banking systems during the financial crisis to calibrate the shock. The outcome of the simulations is compared with the deleveraging observed during the crisis suggesting that leverage is a major determinant of financial contagion.

Contagion in Financial Markets

Author : Friedrich L. Sell
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781956250
Total Pages : 248 pages
Book Rating : 4.9/5 (562 download)

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Book Synopsis Contagion in Financial Markets by : Friedrich L. Sell

Download or read book Contagion in Financial Markets written by Friedrich L. Sell and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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'.

CoMap: Mapping Contagion in the Euro Area Banking Sector

Author : Mehmet Ziya Gorpe
Publisher : International Monetary Fund
ISBN 13 : 1498312071
Total Pages : 63 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis CoMap: Mapping Contagion in the Euro Area Banking Sector by : Mehmet Ziya Gorpe

Download or read book CoMap: Mapping Contagion in the Euro Area Banking Sector written by Mehmet Ziya Gorpe and published by International Monetary Fund. This book was released on 2019-05-10 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a novel approach to investigate and model the network of euro area banks’ large exposures within the global banking system. Drawing on a unique dataset, the paper documents the degree of interconnectedness and systemic risk of the euro area banking system based on bilateral linkages. We develop a Contagion Mapping model fully calibrated with bank-level data to study the contagion potential of an exogenous shock via credit and funding risks. We find that tipping points shifting the euro area banking system from a less vulnerable state to a highly vulnerable state are a non-linear function of the combination of network structures and bank-specific characteristics.

Financial Crises, Contagion, and the Lender of Last Resort : A Reader

Author : Charles Goodhart
Publisher : OUP Oxford
ISBN 13 : 0191588601
Total Pages : 570 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Financial Crises, Contagion, and the Lender of Last Resort : A Reader by : Charles Goodhart

Download or read book Financial Crises, Contagion, and the Lender of Last Resort : A Reader written by Charles Goodhart and published by OUP Oxford. This book was released on 2002-01-17 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Sources of Contagion

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451856628
Total Pages : 29 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Sources of Contagion by : International Monetary Fund

Download or read book Sources of Contagion written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-10-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 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.

Computational Science — ICCS 2004

Author : Marian Bubak
Publisher : Springer Science & Business Media
ISBN 13 : 3540221166
Total Pages : 1376 pages
Book Rating : 4.5/5 (42 download)

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Book Synopsis Computational Science — ICCS 2004 by : Marian Bubak

Download or read book Computational Science — ICCS 2004 written by Marian Bubak and published by Springer Science & Business Media. This book was released on 2004-05-26 with total page 1376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Conference on Computational Science (ICCS 2004) held in Krak ́ ow, Poland, June 6–9, 2004, was a follow-up to the highly successful ICCS 2003 held at two locations, in Melbourne, Australia and St. Petersburg, Russia; ICCS 2002 in Amsterdam, The Netherlands; and ICCS 2001 in San Francisco, USA. As computational science is still evolving in its quest for subjects of inves- gation and e?cient methods, ICCS 2004 was devised as a forum for scientists from mathematics and computer science, as the basic computing disciplines and application areas, interested in advanced computational methods for physics, chemistry, life sciences, engineering, arts and humanities, as well as computer system vendors and software developers. The main objective of this conference was to discuss problems and solutions in all areas, to identify new issues, to shape future directions of research, and to help users apply various advanced computational techniques. The event harvested recent developments in com- tationalgridsandnextgenerationcomputingsystems,tools,advancednumerical methods, data-driven systems, and novel application ?elds, such as complex - stems, ?nance, econo-physics and population evolution.

Financial Contagion

Author : Rob Quail
Publisher : John Wiley & Sons
ISBN 13 : 1118016521
Total Pages : 570 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis Financial Contagion by : Rob Quail

Download or read book Financial Contagion written by Rob Quail and published by John Wiley & Sons. This book was released on 2011-02-09 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Financial Contagion: The Viral Threat to the Wealth of Nations covers a lot of territory. It is, of course, terribly important to analyze case histories to discover potential triggers, mechanisms of transmission, and viable ways to contain the damage of financial contagion. The problem is, as these articles amply demonstrate, that there’s always a new virus or a mutation of a former one lurking in some corner of the financial world. We don’t know what it is or where it is. And, even if we had some inkling, there’s almost never enough time to develop a financial flu shot." --SeekingAlpha.com The latest insights on financial contagion and how both nations and investors can effectively deal with it. The domino-style structure in which the financial system exists is a perilous one. Although historically, the financial system has been able to deal with major shocks, the fact remains that our financial system is not as secure as it should be. Recent years have brought about too many examples of contagion and systemic risk. That is why Financial Contagion is such an important read. In it, the serious concerns that revolve around our fragile economic system are investigated, researched, and explained. Throughout the book, Kolb offers valuable insights on this dilemma as he compiles the history of financial contagion, highlights the latest research on systemic failure and interrelated markets, and analyzes the risks and consequences we face moving forward. Examines the importance of careful regulation and what must be done to stabilize the global financial system Includes contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Details how close we are to witnessing a financial contagion that could devastate the world economy We have been harshly reminded of how fragile our economic ecosystem is. With Financial Contagion, you'll hold a better understanding of what needs to be done to strengthen our system and safeguard our financial future.

International Contagion

Author : Roberto Chang
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4./5 ( download)

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Book Synopsis International Contagion by : Roberto Chang

Download or read book International Contagion written by Roberto Chang and published by World Bank Publications. This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: What can the international community do to prevent financial contagion?

Bank Contagion

Author : George G. Kaufman
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Bank Contagion by : George G. Kaufman

Download or read book Bank Contagion written by George G. Kaufman and published by . This book was released on 1992 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Contagion and Volatility with Imperfect Credit Markets

Author : Mr.Joshua Aizenman
Publisher : International Monetary Fund
ISBN 13 : 145193596X
Total Pages : 34 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Contagion and Volatility with Imperfect Credit Markets by : Mr.Joshua Aizenman

Download or read book Contagion and Volatility with Imperfect Credit Markets written by Mr.Joshua Aizenman and published by International Monetary Fund. This book was released on 1997-10-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper interprets contagion effects as an increase in the volatility of aggregate shocks impinging on the domestic economy. The implications of this approach are analyzed in a model with two types of credit market imperfections: domestic banks borrow at a premium on world capital markets, and domestic producers (whose demand for credit results from working capital needs) borrow at a premium from domestic banks. Higher volatility of producers’ productivity shocks increases both domestic and foreign financial spreads and the producers’ cost of capital, resulting in lower employment and higher incidence of default. Welfare effects are nonlinearly related to the degree of international financial integration.

Contagion of Bank Failures

Author : Sangkyun Park
Publisher :
ISBN 13 : 9789781136306
Total Pages : 0 pages
Book Rating : 4.1/5 (363 download)

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Book Synopsis Contagion of Bank Failures by : Sangkyun Park

Download or read book Contagion of Bank Failures written by Sangkyun Park and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the vulnerability of sound banks during financial criseshelps understand the nature of financial crises and other banking issuestraces the history of banking reform in the United States from 1933 until 1992discusses deregulation in the US banking system.

Cross-Border Interbank Contagion Risk Analysis

Author : Roman Matousek
Publisher : Cambridge University Press
ISBN 13 : 1108898173
Total Pages : 101 pages
Book Rating : 4.1/5 (88 download)

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Book Synopsis Cross-Border Interbank Contagion Risk Analysis by : Roman Matousek

Download or read book Cross-Border Interbank Contagion Risk Analysis written by Roman Matousek and published by Cambridge University Press. This book was released on 2020-07-30 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Element provides a detailed overview of the structural changes in the Asia-Pacific region from the early 2000s onwards. It reviews the most relevant literature on this important topic. The following two research areas are explored: first, by deploying visual network analysis (VNA), we analyse cross-border interbank claims and liabilities of the individual countries located in the Asia-Pacific region. Such an analysis evaluates interbank exposures to systematically important banks within the specific market. The important advantage of VNA is that it allows us to examine the 'hierarchical' cross-country interbank contagion risk that seems to have been neglected in similar studies. Secondly, we evaluate the contagion risk to the individual countries spreading from the financial centres in Hong Kong, Singapore, Tokyo, New York and London. The analysis unveils links and statistical factors that could be used as a key tool for detecting the potential triggers of systemic risk.

Connectedness and Contagion

Author : Hal S. Scott
Publisher : MIT Press
ISBN 13 : 0262546752
Total Pages : 439 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis Connectedness and Contagion by : Hal S. Scott

Download or read book Connectedness and Contagion written by Hal S. Scott and published by MIT Press. This book was released on 2022-11-01 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: An argument that contagion is the most significant risk facing the financial system and that Dodd¬Frank has reduced the government's ability to respond effectively. The Dodd–Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd–Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis—that is, that financial institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this book, Hal Scott argues that it is not connectedness but contagion that is the most significant element of systemic risk facing the financial system. Contagion is an indiscriminate run by short-term creditors of financial institutions that can render otherwise solvent institutions insolvent. It poses a serious risk because, as Scott explains, our financial system still depends on approximately $7.4 to $8.2 trillion of runnable and uninsured short-term liabilities, 60 percent of which are held by nonbanks. Scott argues that efforts by the Federal Reserve, the FDIC, and the Treasury to stop the contagion that exploded after the bankruptcy of Lehman Brothers lessened the economic damage. And yet Congress, spurred by the public's aversion to bailouts, has dramatically weakened the power of the government to respond to contagion, including limitations on the Fed's powers as a lender of last resort. Offering uniquely detailed forensic analyses of the Lehman Brothers and AIG failures, and suggesting alternative regulatory approaches, Scott makes the case that we need to restore and strengthen our weapons for fighting contagion.

Evolution of the Global Financial Network and Contagion: A New Approach

Author : Ms.Yevgeniya Korniyenko
Publisher : International Monetary Fund
ISBN 13 : 1484353242
Total Pages : 41 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Evolution of the Global Financial Network and Contagion: A New Approach by : Ms.Yevgeniya Korniyenko

Download or read book Evolution of the Global Financial Network and Contagion: A New Approach written by Ms.Yevgeniya Korniyenko and published by International Monetary Fund. This book was released on 2018-05-15 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the interconnectedness of the global financial system and its susceptibility to shocks. A novel multilayer network framework is applied to link debt and equity exposures across countries. Use of this approach—that examines simultaneously multiple channels of transmission and their important higher order effects—shows that ignoring the heterogeneity of financial exposures, and simply aggregating all claims, as often done in other studies, can underestimate the extent and effects of financial contagion.The structure of the global financial network has changed since the global financial crisis, impacted by European bank’s deleveraging and higher corporate debt issuance. Still, we find that the structure of the system and contagion remain similar in that network is highly susceptible to shocks from central countries and those with large financial systems (e.g., the USA and the UK). While, individual European countries (excluding the UK) have relatively low impact on shock propagation, the network is highly susceptible to the shocks from the entire euro area. Another important development is the rising role of the Asian countries and the noticeable increase in network susceptibility to shocks from China and Hong Kong SAR economies.