TY - BOOK ID - 84541998 TI - What Drives Contagion : Trade Neighborhood, or Financial Links? AU - Valdes, Rodrigo. AU - Hernández, Leonardo. PY - 2001 SN - 1462384374 1452704899 1281089656 9786613775016 1451892365 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Finance: General KW - Investments: Bonds KW - International Finance: General KW - Current Account Adjustment KW - Short-term Capital Movements KW - International Financial Markets KW - General Financial Markets: General (includes Measurement and Data) KW - Interest Rates: Determination, Term Structure, and Effects KW - Finance KW - Investment & securities KW - Competition KW - Stock markets KW - Yield curve KW - Currency markets KW - Sovereign bonds KW - Financial markets KW - Financial services KW - Financial institutions KW - Stock exchanges KW - Interest rates KW - Foreign exchange market KW - Bonds KW - Thailand UR - https://www.unicat.be/uniCat?func=search&query=sysid:84541998 AB - This paper presents evidence on the relative importance of alternative contagion channels during the Thai, Russian, and Brazilian crises. Results show that when crises are measured by changes in sovereign bond spreads, financial competition seems to explain almost all contagion episodes. However, when crises are measured by stock market returns, trade links and neighborhood effects appear to be relevant contagion channels during the Thai and Brazilian crises, while financial competition remains the only relevant channel in the case of the Russian crisis. ER -