Global financial crisis, financial contagion and emerging markets /
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Author / Creator: | Ozkan, F. Gulcin. |
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Imprint: | Washington, D.C. : International Monetary Fund, ©2012. |
Description: | 1 online resource (57 pages) : illustrations. |
Language: | English |
Series: | IMF working paper ; WP/12/293 IMF working paper ; WP/12/293. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/11306965 |
Other authors / contributors: | Unsal, D. Filiz. |
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ISBN: | 9781475589849 1475589840 9781475518498 9781475551167 1475518498 9781475518498 1475551169 9781475551167 |
Notes: | Includes bibliographical references. |
Summary: | The recent global financial crisis was the first in recent history that was triggered by problems in the financial system of the mature economies. Existing work on financial crisis in emerging market countries, however, almost exclusively focus on the role of financial frictions in the domestic economy. In contrast, we propose a two-country DSGE model to investigate the transmission of a global financial crisis that originates from financial frictions in the rest of the world. We find that the scale of financial spillovers from the global to the domestic economy and trade openness are key dete. |
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