Accession Number:

ADA355040

Title:

Financial Crises and Contagion in Emerging Market Countries.

Descriptive Note:

Corporate Author:

RAND CORP SANTA MONICA CA

Personal Author(s):

Report Date:

1998-01-01

Pagination or Media Count:

72.0

Abstract:

This study explores why some financial crises appear to be contagious, and why some financial markets in emerging market countries appear to be vulnerable to contagion while others are not. To begin, multicountry crisis episodes for the period January 1989 to August 1997 are identified and analyzed using statistical methods. Next, four informal models of contagion are developed and sets of indicators proposed. Finally, case studies are used to illustrate the usefulness of the models and indicators for explaining the experience of three countries with potentially contagious financial crises. This research was conducted within RANDs National Security Research Division NSRD which does work for the U.S. Department of Defense, for other U.S. government agencies, and for other sponsoring institutions.

Subject Categories:

  • Administration and Management
  • Economics and Cost Analysis

Distribution Statement:

APPROVED FOR PUBLIC RELEASE