International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil?: Asset Price Contagion During the Global Financial Crisis
Using the 2008-09 global financial crisis, this paper examines the role of different forms of international financial integration for asset price contagion in crisis times. Defining contagion as the transmission of financial market movements beyond the co-movements that would occur in "tranquil...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Weitere Verfasser: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2012
|
| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Using the 2008-09 global financial crisis, this paper examines the role of different forms of international financial integration for asset price contagion in crisis times. Defining contagion as the transmission of financial market movements beyond the co-movements that would occur in "tranquil" times, the paper looks into the presence of contagion in the period of turmoil prior to the fall of Lehman Brothers, in the main crisis period following the Lehman collapse, and in the ensuing late stages of the crisis. The analysis uses bilateral financial and trade linkages and daily data on equity and bond prices for a sample of 46 countries between 2002 and 2011. Bilateral debt integration and common bank lenders are found to have transmitted financial turmoil through equity and bond markets at the height of the crisis. During this period, real trade linkages also increased equity price co-movements. By contrast, no robust evidence is found that equity or FDI integration increased asset price co-movements during the crisis |
| Beschreibung: | 1 Online-Ressource (34 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5k97b0lbdq40-en |
Internformat
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047936199 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2012 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/5k97b0lbdq40-en |2 doi | |
| 035 | |a (ZDB-13-SOC)061256447 | ||
| 035 | |a (OCoLC)1312701753 | ||
| 035 | |a (DE-599)BVBBV047936199 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a Ahrend, Rudiger |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? |b Asset Price Contagion During the Global Financial Crisis |c Rudiger Ahrend and Antoine Goujard = Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers? : La contagion des prix des actifs lors de la crise financière / Rudiger Ahrend et Antoine Goujard |
| 246 | 1 | 3 | |a Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers? |
| 264 | 1 | |a Paris |b OECD Publishing |c 2012 | |
| 300 | |a 1 Online-Ressource (34 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers | |
| 520 | |a Using the 2008-09 global financial crisis, this paper examines the role of different forms of international financial integration for asset price contagion in crisis times. Defining contagion as the transmission of financial market movements beyond the co-movements that would occur in "tranquil" times, the paper looks into the presence of contagion in the period of turmoil prior to the fall of Lehman Brothers, in the main crisis period following the Lehman collapse, and in the ensuing late stages of the crisis. The analysis uses bilateral financial and trade linkages and daily data on equity and bond prices for a sample of 46 countries between 2002 and 2011. Bilateral debt integration and common bank lenders are found to have transmitted financial turmoil through equity and bond markets at the height of the crisis. During this period, real trade linkages also increased equity price co-movements. By contrast, no robust evidence is found that equity or FDI integration increased asset price co-movements during the crisis | ||
| 650 | 4 | |a Economics | |
| 700 | 1 | |a Goujard, Antoine |4 ctb | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/5k97b0lbdq40-en |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033317692 | |
Datensatz im Suchindex
| _version_ | 1818806084459036672 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Ahrend, Rudiger |
| author2 | Goujard, Antoine |
| author2_role | ctb |
| author2_variant | a g ag |
| author_facet | Ahrend, Rudiger Goujard, Antoine |
| author_role | aut |
| author_sort | Ahrend, Rudiger |
| author_variant | r a ra |
| building | Verbundindex |
| bvnumber | BV047936199 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061256447 (OCoLC)1312701753 (DE-599)BVBBV047936199 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/5k97b0lbdq40-en |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047936199</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2012 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/5k97b0lbdq40-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061256447</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312701753</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047936199</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Ahrend, Rudiger</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil?</subfield><subfield code="b">Asset Price Contagion During the Global Financial Crisis</subfield><subfield code="c">Rudiger Ahrend and Antoine Goujard = Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers? : La contagion des prix des actifs lors de la crise financière / Rudiger Ahrend et Antoine Goujard</subfield></datafield><datafield tag="246" ind1="1" ind2="3"><subfield code="a">Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers?</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2012</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (34 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Using the 2008-09 global financial crisis, this paper examines the role of different forms of international financial integration for asset price contagion in crisis times. Defining contagion as the transmission of financial market movements beyond the co-movements that would occur in "tranquil" times, the paper looks into the presence of contagion in the period of turmoil prior to the fall of Lehman Brothers, in the main crisis period following the Lehman collapse, and in the ensuing late stages of the crisis. The analysis uses bilateral financial and trade linkages and daily data on equity and bond prices for a sample of 46 countries between 2002 and 2011. Bilateral debt integration and common bank lenders are found to have transmitted financial turmoil through equity and bond markets at the height of the crisis. During this period, real trade linkages also increased equity price co-movements. By contrast, no robust evidence is found that equity or FDI integration increased asset price co-movements during the crisis</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Goujard, Antoine</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/5k97b0lbdq40-en</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033317692</subfield></datafield></record></collection> |
| id | DE-604.BV047936199 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:05Z |
| indexdate | 2024-12-18T19:04:09Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033317692 |
| oclc_num | 1312701753 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (34 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Ahrend, Rudiger Verfasser aut International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? Asset Price Contagion During the Global Financial Crisis Rudiger Ahrend and Antoine Goujard = Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers? : La contagion des prix des actifs lors de la crise financière / Rudiger Ahrend et Antoine Goujard Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers? Paris OECD Publishing 2012 1 Online-Ressource (34 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers Using the 2008-09 global financial crisis, this paper examines the role of different forms of international financial integration for asset price contagion in crisis times. Defining contagion as the transmission of financial market movements beyond the co-movements that would occur in "tranquil" times, the paper looks into the presence of contagion in the period of turmoil prior to the fall of Lehman Brothers, in the main crisis period following the Lehman collapse, and in the ensuing late stages of the crisis. The analysis uses bilateral financial and trade linkages and daily data on equity and bond prices for a sample of 46 countries between 2002 and 2011. Bilateral debt integration and common bank lenders are found to have transmitted financial turmoil through equity and bond markets at the height of the crisis. During this period, real trade linkages also increased equity price co-movements. By contrast, no robust evidence is found that equity or FDI integration increased asset price co-movements during the crisis Economics Goujard, Antoine ctb https://doi.org/10.1787/5k97b0lbdq40-en Verlag kostenfrei Volltext |
| spellingShingle | Ahrend, Rudiger International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? Asset Price Contagion During the Global Financial Crisis Economics |
| title | International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? Asset Price Contagion During the Global Financial Crisis |
| title_alt | Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers? |
| title_auth | International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? Asset Price Contagion During the Global Financial Crisis |
| title_exact_search | International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? Asset Price Contagion During the Global Financial Crisis |
| title_exact_search_txtP | International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? Asset Price Contagion During the Global Financial Crisis |
| title_full | International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? Asset Price Contagion During the Global Financial Crisis Rudiger Ahrend and Antoine Goujard = Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers? : La contagion des prix des actifs lors de la crise financière / Rudiger Ahrend et Antoine Goujard |
| title_fullStr | International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? Asset Price Contagion During the Global Financial Crisis Rudiger Ahrend and Antoine Goujard = Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers? : La contagion des prix des actifs lors de la crise financière / Rudiger Ahrend et Antoine Goujard |
| title_full_unstemmed | International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? Asset Price Contagion During the Global Financial Crisis Rudiger Ahrend and Antoine Goujard = Flux de capitaux internationaux et fragilité financière - Partie 6. Toutes les formes d'intégration financière sont-elles risquées en cas de chocs financiers? : La contagion des prix des actifs lors de la crise financière / Rudiger Ahrend et Antoine Goujard |
| title_short | International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil? |
| title_sort | international capital mobility and financial fragility part 6 are all forms of financial integration equally risky in times of financial turmoil asset price contagion during the global financial crisis |
| title_sub | Asset Price Contagion During the Global Financial Crisis |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5k97b0lbdq40-en |
| work_keys_str_mv | AT ahrendrudiger internationalcapitalmobilityandfinancialfragilitypart6areallformsoffinancialintegrationequallyriskyintimesoffinancialturmoilassetpricecontagionduringtheglobalfinancialcrisis AT goujardantoine internationalcapitalmobilityandfinancialfragilitypart6areallformsoffinancialintegrationequallyriskyintimesoffinancialturmoilassetpricecontagionduringtheglobalfinancialcrisis AT ahrendrudiger fluxdecapitauxinternationauxetfragilitefinancierepartie6touteslesformesdintegrationfinancieresontellesrisqueesencasdechocsfinanciers AT goujardantoine fluxdecapitauxinternationauxetfragilitefinancierepartie6touteslesformesdintegrationfinancieresontellesrisqueesencasdechocsfinanciers |