In the last two decades, the world economy has been challenged by different economic and financial crises. These events have captured researchers' attention, and in particular, the analysis of contagion effects derived from stock market shocks has been a focal point of discussions. This paper...

In the framework of the current global economic crisis, a pertinent question is whether the world economies are suffering from contagion or interdependence effects. With its origins in the US sub-prime mortgage market crisis starting at the end of 2007, when a loss of confidence by investors in...