Contagion of International Financial Crises: The Case of Mexico
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Mexico was the epicenter of the 1994–1995 Tequila crisis in which many new features of emerging markets’ crises made their appearance. In particular, the issue of whether contagion was present caught the attention of several authors (For example, Valdés (1997), Sachs, Tornell and Velasco (1996) and Calvo and Reinhart (1996)). Since then, the Asian, Russian and Brazilian crises have motivated numerous papers that suggest that writing about contagion might also be contagious.
- Baig, Taimur and Ilan Goldfajn (1998). “Financial Markets Contagion in the Asian Crisis,” International Monetary Fund Working Paper no. 98 /155.
- Banco de México, The Mexican Economy,Mexico City, Various Issues.
- Calvo, Sarah and Carmen Reinhart (1996). “Capital Flows to Latin America: Is there Evidence of Contagion Effects?” in Guillermo Calvo, Morris Goldstein, Eduard Hochreiter (eds).Private Capital Flows to Emerging Markets after the Méxican Crisis ( Washington, D.C.: Institute for International Economics. )
- Corsetti, Giancarlo, Paulo Pesenti and Nouriel Roubini (1998). “What Caused the Asian Currency and Financial Crisis.” NBER Working Paper no. 6833 and 6834.
- Forbes, Kristin and Roberto Rigobon. (1999). “No Contagion, Only Interdependence: Measuring Stock Market Co-movements.” NBER Working Paper no. 7267.
- Garcés, D. (1999). “Determinación del nivel de precios y la dinamica inflacionaria en México.” Bank of Mexico mimeo, December.
- Hamilton, James (1994). Time Series Analysis. New Jersey: Princeton University Press.
- Jochum, Christian and Laura Kodres (1998). “Does the Introduction of Futures on Emerging Market Currencies Destabilize the Underlying Currencies?” IMF Working Paper no. 98 /13.
- Kodres, Laura and Matthew Pritsker (1998). “A Rational Expectations Model of Financial Contagion.” Federal Reserve Board Discussion Series no. 1998–48.
- Masson, Paul. (1998). “Contagion: Monsoonal Effects, Spillovers, and Jumps Between Multiple Equilibria,” IMF Working Paper no. 98/l42-EA.
- Rigobon, Roberto (1999). “On the Measurement of the International Propagation of Shocks.” NBER Working Paper no. 7354.
- Sachs, Jeffrey, Aaron Tomell and Andrés Velasco (1996). “Financial Crisis in Emerging Markets: The Lessons from 1995.” NBER Working Paper no. 5576.
- Valdés, Rodrigo (1997). “Emerging Markets Contagion: Evidence and Theory.” Documentos de Trabajo del Banco Central, Central Bank of Chile.
- Contagion of International Financial Crises: The Case of Mexico
- Book Title
- International Financial Contagion
- Book Part
- Part III
- pp 301-328
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- Springer US
- Copyright Holder
- Springer-Verlag US
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