Financial Links and Contagion in the 1997 Asian Currency Crisis: An Empirical Examination

Bang Jeon

A chapter in Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century, 2005, pp 101-114 from Emerald Group Publishing Limited

Abstract: This paper provides evidence of financial linkages across countries as a channel of contagion of currency crises in the case of the 1997 Asian crisis using high-frequency data, focusing on the hardest hit countries in the region: Thailand, Indonesia, Malaysia, and Korea. Stock markets in the region were found to play an important role in transmitting initial and local shocks beyond its country of origin to other emerging economies during the 1997 crisis. Stock market linkages seem to have contributed importantly to the quick and wide-scale contagion of the ensuing exchange rate crisis across countries in the 1997 Asian crisis episode.

Date: 2005
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.101 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.101 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:csefzz:s1569-3759(05)86005-x

DOI: 10.1016/S1569-3759(05)86005-X

Access Statistics for this chapter

More chapters in Contemporary Studies in Economic and Financial Analysis from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().