Vanishing contagion?
By: Tatiana Didier, Paolo Mauro, and  Sergio Schmukler
Contributors: Mauro, Paolo; Schmukler, Sergio L.; International Monetary Fund
Series: IMF policy discussion paper -- PDP/06/1; IMF policy discussion paper (Online) -- PDP/06/1.
Publisher: International Monetary Fund
Published: 2006
Place of publication: [Washington, D.C.]
Language: eng
Format: [electronic resource] /
Description: While a number of emerging market crises were characterized by widespread contagion  during the 1990s, more recent crises (notably, in Argentina) have been mostly contained  within national borders. This has led some observers to wonder whether contagion might  have become a feature of the past, with markets now better discriminating between countries  with good and bad fundamentals. This paper argues that a prudent working assumption is  that contagion has not vanished permanently. Available data do not seem to point to a  disappearance of the main channels that contribute to transmitting crises across countries.  Moreover, anticipation of the Argentine crisis by international investors may help explain  the recent absence of contagion.
Notes: Title from PDF file (viewed on Mar. 30, 2006).

"January 2006."

"Research  Department."

Includes bibliographical references.

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