Contagion: Recent Models in International Finance Literature

Authors

  • Can Sever Department of Economics, University of Maryland, Tydings Hall, 4110, College Park, MD, US Author

Keywords:

Contagion, international financial integration,, international business cycles,, interdependence, financial crisis, shock transmission

Abstract

Due to intensified economic globalization, cross-country linkages have become the channel through which country-specific shocks may affect financial conditions and macroeconomic variables across borders. Since financial crises of 1990s, crisis propagation has become a contentious issue. Especially after the recent global financial crisis, contagion has attracted considerable attention both from the academia and policymakers. This survey investigates recent model-based approaches on contagion in international finance literature.

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Published

2016-06-30

Issue

Vol. 5 No. 2 (2016)

Section

Articles