A Critical Survey on the Contagion Effects of Financial Crisis

Chi-Young Song ()
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Chi-Young Song: Kookmin University

East Asian Economic Review, 2000, vol. 4, issue 3, 3-40

Abstract: This paper critically reviews theoretical and empirical studies on financial contagion. The East Asian crisis in 1997 as well as the Mexican crisis in 1994 saw the serious spillover of financial turbulences among different countries, and consequently this has encouraged theoretical and empirical investigation of financial contagion effects. However, rigorous evaluation and assessment of existing studies are yet to be made. In this paper, we introduce and critically evaluate previous studies on the definitions and phenomena, and causes of financial contagion effects. We also discuss effective policy measures to contain them, and topics for future studies.

Keywords: Financial Crisis; Contagion Effects (search for similar items in EconPapers)
JEL-codes: F31 F32 (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:ris:eaerev:0251

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