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Riding global financial waves : the economic impact of global financial shocks on emerging market economies

Adler, Gustavo; Tovar, Camilo Ernesto - 2012

Over the past two decades, most emerging market economies witnessed two key developments. A marked process of financial integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an improvement of macroeconomic fundamentals, helping...

Persistent link: https://www.econbiz.de/10009620968

Financial Crisis, US Unconventional Monetary Policy and International Spillovers

Chen, Qianying - 2015

We study the impact of the US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error-correction model (GVECM) and conducting counterfactual analyses. We focus on the effects of reductions in the US term and corporate spreads. First, US QE measures...

Persistent link: https://www.econbiz.de/10014412116

Regional Financial Interlinkages and Financial Contagion within Europe

Ötker, Inci - 2009

This paper focuses on financial interlinkages within Europe and potential contagion channeled through these … channels of contagion through financial linkages; and assesses the magnitude of cross-border exposures between emerging and … regional contagion that could help identify the likely pressure points and capture potential spillover effects and propagation …

Persistent link: https://www.econbiz.de/10014404299

The Spillover Effects of the Global Crisison Economic Activity in Mena Emerging Market Countries : An Analysis Using the Financial Stress Index

Moriyama, Kenji - 2010

The estimated spillover of the global crisis to emerging market (EM) economies in the Middle East and North Africa (MENA) indicates that nearly two-thirds of the increased financial stress in MENA EM countries after the Lehman shock is attributable to direct or indirect spillovers of financial...

Persistent link: https://www.econbiz.de/10014404332

Riding Global Financial Waves : The Economic Impact of Global Financial Shocks on Emerging Market Economies

Adler, Gustavo - 2012

Persistent link: https://www.econbiz.de/10014395685

Spillovers to Low-Income Countries : Importance of Systemic Emerging Markets

Dabla-Norris, Era - 2012

This paper documents the expanding economic linkages between low-income countries (LICs) and a narrow group of ""Emerging Market leaders"" that have become major players in regional and global trade and financial flows. VAR models show that these linkages have increased the share of growth...

Persistent link: https://www.econbiz.de/10014396953

Public Debt in Advanced Economies and its Spillover Effectson Long-Term Yields

Alper, C. Emre - 2011

Several models establish a positive association between public debt ratios and long-term real yields, but the empirical evidence is not always conclusive. We reconsider this issue, focusing in particular on possible spillover effects of large advanced economies'' debt levels to other economies''...

Persistent link: https://www.econbiz.de/10014398319

Spatial Spillovers in Emerging Market Spreads

Dell'Erba, Salvatore - 2011

We use novel spatial econometrics techniques to explore spillovers in the sovereign bond market for 24 emerging economies during 1995-2010. The paper extends the previous literature focusing on spillover effects from advanced to emerging economies by analyzing transmission of shocks across...

Persistent link: https://www.econbiz.de/10014398357

Financial Contagion and Investor ""Learning"" : An Empirical Investigation

Basu, Ritu - 2002

There have been several episodes of financial market ""contagion"" in the 1990s. Is contagion driven by herd behavior …? Does it reflect fundamental economic linkages between countries? Or are episodes of contagion driven by investor learning … spillover of shocks following the bond market developments in Hong Kong SAR in 1997. Our results suggest that this contagion, at …

Persistent link: https://www.econbiz.de/10014399724

What Drives Stock Market Development in the Middle East and Central Asia : Institutions, Remittances, or Natural Resources?

Billmeier, Andreas - 2007

In this paper, we assess the macroeconomic determinants of stock market capitalization in a panel of 17 countries in the Middle East and Central Asia, including both hydrocarbon-rich countries and economies without sizeable natural resource wealth. In addition to traditional variables, we...

Persistent link: https://www.econbiz.de/10014401261