In this paper, we analyze how the risk premiums in the Tokyo international interbank markets went through under the financial crisis. First, we briefly look back upon the financial situations under Japan's financial crisis at the end of the 1990s and under the global financial crisis that...

This paper explores financial spillovers between emerging Asia and advanced economies using principal component analysis to extract common shocks in Asia. We first investigate stock market spillovers across the regions and find that spillovers from emerging Asia became significant after the...