| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14395 |
| DP14395 Did Globalization Kill Contagion? | |
| Olivier Accominotti; Marie Briere; Aurore Burietz; Kim Oosterlinck; Ariane Szafarz | |
| 发表日期 | 2020-02-08 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Does financial globalization lead to contagion? We scrutinize linkages between international stock markets in a long historical perspective (1880-2014). Our results highlight that without globalization, contagion cannot exist. However, if cross-market correlations are very high, globalization kills contagion. We show that financial contagion was absent from stock markets in both the period of deglobalization of 1918-1971 and the era of “extreme” globalization of 1972-2014 but was present in the period of “moderate” globalization of 1880-1914. Our results suggest that contagion could become a significant problem if financial markets return to a more moderate level of globalization. |
| 主题 | Economic History |
| 关键词 | Contagion Globalization Financial history stock market Market interdependence Economic integration |
| URL | https://cepr.org/publications/dp14395-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543289 |
| 推荐引用方式 GB/T 7714 | Olivier Accominotti,Marie Briere,Aurore Burietz,et al. DP14395 Did Globalization Kill Contagion?. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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