The Transmission of Financial Stress From Advanced to Emerging Economies:
This paper studies how financial stress is transmitted from advanced to emerging economies, using a new financial stress index for emerging economies. An episode of financial stress is defined as a period when the financial system''s ability to intermediate may be impaired. Previous financ...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2009
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 09/133 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper studies how financial stress is transmitted from advanced to emerging economies, using a new financial stress index for emerging economies. An episode of financial stress is defined as a period when the financial system''s ability to intermediate may be impaired. Previous financial crises in advanced economies passed through strongly and rapidly to emerging economies. In line with this pattern, the unprecedented spike in financial stress in advanced economies elevated financial stress across emerging economies above levels seen during the Asian crisis, but with significant cross-country variation. The extent of pass-through of financial stress is related to the depth of financial linkages between advanced and emerging economies. The paper finds that higher current account and fiscal balances do little to insulate emerging economies from the transmission of financial stress in advanced economies. However, they may help dampen the impact on the real sector of emerging economies and help reestablish financial stability and foreign capital inflows once financial stress subsides |
| Beschreibung: | 1 Online-Ressource (52 p) |
| ISBN: | 1451872801 9781451872804 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:27Z |
| indexdate | 2024-07-10T09:35:35Z |
| institution | BVB |
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| series2 | IMF Working Papers |
| spelling | Danninger, Stephan Verfasser aut The Transmission of Financial Stress From Advanced to Emerging Economies Danninger, Stephan Washington, D.C International Monetary Fund 2009 1 Online-Ressource (52 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 09/133 This paper studies how financial stress is transmitted from advanced to emerging economies, using a new financial stress index for emerging economies. An episode of financial stress is defined as a period when the financial system''s ability to intermediate may be impaired. Previous financial crises in advanced economies passed through strongly and rapidly to emerging economies. In line with this pattern, the unprecedented spike in financial stress in advanced economies elevated financial stress across emerging economies above levels seen during the Asian crisis, but with significant cross-country variation. The extent of pass-through of financial stress is related to the depth of financial linkages between advanced and emerging economies. The paper finds that higher current account and fiscal balances do little to insulate emerging economies from the transmission of financial stress in advanced economies. However, they may help dampen the impact on the real sector of emerging economies and help reestablish financial stability and foreign capital inflows once financial stress subsides Online-Ausg Balakrishnan, Ravi Sonstige oth Elekdag, Selim Sonstige oth Tytell, Irina Sonstige oth http://elibrary.imf.org/view/IMF001/10241-9781451872804/10241-9781451872804/10241-9781451872804.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Danninger, Stephan The Transmission of Financial Stress From Advanced to Emerging Economies |
| title | The Transmission of Financial Stress From Advanced to Emerging Economies |
| title_auth | The Transmission of Financial Stress From Advanced to Emerging Economies |
| title_exact_search | The Transmission of Financial Stress From Advanced to Emerging Economies |
| title_exact_search_txtP | The Transmission of Financial Stress From Advanced to Emerging Economies |
| title_full | The Transmission of Financial Stress From Advanced to Emerging Economies Danninger, Stephan |
| title_fullStr | The Transmission of Financial Stress From Advanced to Emerging Economies Danninger, Stephan |
| title_full_unstemmed | The Transmission of Financial Stress From Advanced to Emerging Economies Danninger, Stephan |
| title_short | The Transmission of Financial Stress From Advanced to Emerging Economies |
| title_sort | the transmission of financial stress from advanced to emerging economies |
| url | http://elibrary.imf.org/view/IMF001/10241-9781451872804/10241-9781451872804/10241-9781451872804.xml |
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