Financial Contagion

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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.

Financial Crisis, Contagion, and Containment

Author : Padma Desai
Publisher : Princeton University Press
ISBN 13 : 9780691113920
Total Pages : 326 pages
Book Rating : 4.1/5 (139 download)

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Book Synopsis Financial Crisis, Contagion, and Containment by : Padma Desai

Download or read book Financial Crisis, Contagion, and Containment written by Padma Desai and published by Princeton University Press. This book was released on 2003 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sweeping critical account of the financial crises that rocked East Asia and other parts of the world beginning with the collapse of the Thai baht in 1997. Padma Desai retraces the story of Asia's "Crisis Five"--Indonesia, Malaysia, South Korea, the Philippines and Thailand.

Contagion! Systemic Risk in Financial Networks

Author : T. R. Hurd
Publisher : Springer
ISBN 13 : 3319339303
Total Pages : 139 pages
Book Rating : 4.3/5 (193 download)

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Book Synopsis Contagion! Systemic Risk in Financial Networks by : T. R. Hurd

Download or read book Contagion! Systemic Risk in Financial Networks written by T. R. Hurd and published by Springer. This book was released on 2016-05-25 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a unified mathematical framework for the transmission channels for damaging shocks that can lead to instability in financial systems. As the title suggests, financial contagion is analogous to the spread of disease, and damaging financial crises may be better understood by bringing to bear ideas from studying other complex systems in our world. After considering how people have viewed financial crises and systemic risk in the past, it delves into the mechanics of the interactions between banking counterparties. It finds a common mathematical structure for types of crises that proceed through cascade mappings that approach a cascade equilibrium. Later chapters follow this theme, starting from the underlying random skeleton graph, developing into the theory of bootstrap percolation, ultimately leading to techniques that can determine the large scale nature of contagious financial cascades.

Connectedness and Contagion

Author : Hal S. Scott
Publisher : MIT Press
ISBN 13 : 0262034379
Total Pages : 439 pages
Book Rating : 4.2/5 (62 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 2016-05-13 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.

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'.

Contagion Phenomena with Applications in Finance

Author : Serge Darolles
Publisher : Elsevier
ISBN 13 : 0081004788
Total Pages : 166 pages
Book Rating : 4.0/5 (81 download)

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Book Synopsis Contagion Phenomena with Applications in Finance by : Serge Darolles

Download or read book Contagion Phenomena with Applications in Finance written by Serge Darolles and published by Elsevier. This book was released on 2015-08-26 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much research into financial contagion and systematic risks has been motivated by the finding that cross-market correlations (resp. coexceedances) between asset returns increase significantly during crisis periods. Is this increase due to an exogenous shock common to all markets (interdependence) or due to certain types of transmission of shocks between markets (contagion)? Darolles and Gourieroux explain that an attempt to convey contagion and causality in a static framework can be flawed due to identification problems; they provide a more precise definition of the notion of shock to strengthen the solution within a dynamic framework. This book covers the standard practice for defining shocks in SVAR models, impulse response functions, identitification issues, static and dynamic models, leading to the challenges of measurement of systematic risk and contagion, with interpretations of hedge fund survival and market liquidity risks Features the standard practice of defining shocks to models to help you to define impulse response and dynamic consequences Shows that identification of shocks can be solved in a dynamic framework, even within a linear perspective Helps you to apply the models to portfolio management, risk monitoring, and the analysis of financial stability

Contagion

Author : John R. Talbott
Publisher : John Wiley & Sons
ISBN 13 : 0470466936
Total Pages : 239 pages
Book Rating : 4.4/5 (74 download)

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Book Synopsis Contagion by : John R. Talbott

Download or read book Contagion written by John R. Talbott and published by John Wiley & Sons. This book was released on 2009-01-08 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bestselling author John Talbott outlines the troublesome economic times ahead and what can be done about them Tough times are here, and author John Talbott-who accurately predicted the dot.com technology stock collapse as well as the recent housing, mortgage, and financial crises-argues that the coming global recession will be unlike anything we've ever seen. In Contagion, Talbott turns his attention to this crisis and offers insights on what can be done to navigate such treacherous terrain. Talbott sets the stage by discussing how government borrowing and spending on the war, healthcare, Social Security, and corporate giveaways combined with dramatic increases in personal spending, fueled by credit card and mortgage debt, have funded unsustainable levels of personal and government consumption. Offers practical suggestions as to how investors and homeowners can best weather this storm with straightforward advice on where to invest Examines real estate and housing issues to help you make the best decisions possible in this arena Details the best ways to utilize stocks, bonds, TIPS, and commodities, and to prosper during this global crisis If you really want to protect yourself from the unfolding economic crisis, then Contagion is the book you need to read.

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.

The Rules of Contagion

Author : Adam Kucharski
Publisher : Profile Books
ISBN 13 : 1782834303
Total Pages : 302 pages
Book Rating : 4.7/5 (828 download)

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Book Synopsis The Rules of Contagion by : Adam Kucharski

Download or read book The Rules of Contagion written by Adam Kucharski and published by Profile Books. This book was released on 2020-02-13 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Observer Book of the Year A Times Science Book of the Year A New Statesman Book of the Year A Financial Times Science Book of the Year 'Astonishingly bold' Daily Mail 'It is hard to imagine a more timely book ... much of the modern world will make more sense having read it.' The Times We live in a world that's more interconnected than ever before. Our lives are shaped by outbreaks - of disease, of misinformation, even of violence - that appear, spread and fade away with bewildering speed. To understand them, we need to learn the hidden laws that govern them. From 'superspreaders' who might spark a pandemic or bring down a financial system to the social dynamics that make loneliness catch on, The Rules of Contagion offers compelling insights into human behaviour and explains how we can get better at predicting what happens next. Along the way, Adam Kucharski explores how innovations spread through friendship networks, what links computer viruses with folk stories - and why the most useful predictions aren't necessarily the ones that come true. Now revised and updated with content on Covid-19.

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?

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.

The Oxford Handbook of the Economics of Networks

Author : Yann Bramoullé
Publisher : Oxford University Press
ISBN 13 : 0190216832
Total Pages : 608 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis The Oxford Handbook of the Economics of Networks by : Yann Bramoullé

Download or read book The Oxford Handbook of the Economics of Networks written by Yann Bramoullé and published by Oxford University Press. This book was released on 2016-03-01 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of the Economics of Networks represents the frontier of research into how and why networks they form, how they influence behavior, how they help govern outcomes in an interactive world, and how they shape collective decision making, opinion formation, and diffusion dynamics. From a methodological perspective, the contributors to this volume devote attention to theory, field experiments, laboratory experiments, and econometrics. Theoretical work in network formation, games played on networks, repeated games, and the interaction between linking and behavior is synthesized. A number of chapters are devoted to studying social process mediated by networks. Topics here include opinion formation, diffusion of information and disease, and learning. There are also chapters devoted to financial contagion and systemic risk, motivated in part by the recent financial crises. Another section discusses communities, with applications including social trust, favor exchange, and social collateral; the importance of communities for migration patterns; and the role that networks and communities play in the labor market. A prominent role of networks, from an economic perspective, is that they mediate trade. Several chapters cover bilateral trade in networks, strategic intermediation, and the role of networks in international trade. Contributions discuss as well the role of networks for organizations. On the one hand, one chapter discusses the role of networks for the performance of organizations, while two other chapters discuss managing networks of consumers and pricing in the presence of network-based spillovers. Finally, the authors discuss the internet as a network with attention to the issue of net neutrality.

Recent Advances and Applications in Alternative Investments

Author : Zopounidis, Constantin
Publisher : IGI Global
ISBN 13 : 1799824381
Total Pages : 385 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Recent Advances and Applications in Alternative Investments by : Zopounidis, Constantin

Download or read book Recent Advances and Applications in Alternative Investments written by Zopounidis, Constantin and published by IGI Global. This book was released on 2020-02-07 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, there has been a swell of investment opportunities in contemporary asset classes that have gained considerable attention, including cryptocurrencies, hedge funds, and private equity. These alternative investments provide the opportunity to enhance the diversification of financial portfolios and harvest risk premiums that traditional assets like stocks and bonds fail to provide. The emergence of these new properties has created the need to further understand the mechanics, risks, and returns of alternative investments. Recent Advances and Applications in Alternative Investments is a pivotal reference source that provides vital research on the emergence and development of complementary asset classes in the field of finance and investment. While highlighting topics such as carbon emission markets, renewable energy, and digital currencies, this publication explores modern investment strategies as well as the latest products and new types of risk. This book is ideally designed for managers, strategists, accountants, financial professionals, economists, brokers, investors, business practitioners, policymakers, researchers, and academicians seeking current research on contemporary developments in investment strategies and alternative assets.

Asian Contagion

Author : Karl Jackson
Publisher : Routledge
ISBN 13 : 0429981805
Total Pages : 313 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis Asian Contagion by : Karl Jackson

Download or read book Asian Contagion written by Karl Jackson and published by Routledge. This book was released on 2018-03-05 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: For much of the second half of the twentieth century, the Asian economic "miracle" has fueled the greatest expansion of wealth for the largest population in the history of mankind. In the summer of 1997, thirty years of economic boom came crashing back to earth. The reality of unrestrained speculation, inefficiently regulated currency exchange, banking instability and bad loans have struck the much-vaunted "Asian Tigers" like Thailand, Indonesia, Korea, and, finally, Japan, casting a shadow of uncertainty on a region recently to the fore in the world economic system. Recovery depends largely on reform within the Asian economies themselves and a cold assessment of the structural weaknesses that lay under the surface, but only now have come to light. The implications for world economies and, more broadly, the dynamics of world politics, are tremendous.

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.

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.