International Contagion 1618–1933

Robert Z. Aliber, Charles P. Kindleberger and Robert McCauley
Additional contact information
Robert Z. Aliber: University of Chicago
Charles P. Kindleberger: Massachusetts Institute of Technology

Chapter Chapter 8 in Manias, Panics, and Crashes, 2023, pp 187-210 from Springer

Abstract: Abstract Financial crises tend to be international, either running parallel from country to country or spreading by one means or another from the centers where they originate to other countries. Boom, distress, and panic are transmitted through a variety of channels. Arbitrage keeps prices of commodities and securities in line, but so can marking up or down prices in one market when they change in another, without any actual buying and selling. Movements of money can take various forms: specie, bank deposits, and bills of exchange. Cooperation among central banks can play a role. Investor psychology is easy to neglect, especially in the linkage of securities that are not traded internationally and therefore are not subject to arbitrage.

Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:sprchp:978-3-031-16008-0_8

Ordering information: This item can be ordered from
http://www.springer.com/9783031160080

DOI: 10.1007/978-3-031-16008-0_8

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().