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Financial Crises and Contagion

 
This Website introduces the basic concepts and research on crises and contagion, addressing these questions:
  • Why do financial crises take place? 
  • Why are financial crises transmitted across countries? 
  • What is the role of financial markets?
  • What are the policies that can help countries prevent those crises?
  • How can crises be managed and resolved more effectively?

Definitions of Contagion

Resource Persons

Publications and Working Papers

Journal articles, book chapters, and other publications
This page lists recent scholarly publications by staff working in the area of Macroeconomics and Growth.  Publications are organized by topic and appear in reverse chronological order.

Policy Research Working Papers 

For more policy research working papers from the World Bank's institutional archives, search here using author’s last name, title or working paper number (“wpsxxxx”).

WPS5203When the rivers run dry : liquidity and the use of wholesale funds in the transmission of the U.S. subprime crisisRaddatz, Claudio2010/02
WPS4897Emerging market fluctuations : what makes the difference ?Hevia, Constantino2009/04
WPS4807Are all the sacred cows dead ? implications of the financial crisis for macro and financial policiesDemirguc-Kunt, Asli; Serven, Luis2009/01
WPS4770Crises, capital controls, and financial integrationYeyati, Eduardo Levy; Schmukler, Sergio L.; Van Horen, Neeltje2008/11
WPS4445Emerging market liquidity and crisesYeyati, Eduardo Levy; Schmukler, Sergio L.; Van Horen, Neeltje2007/12
WPS3440Market discipline under systemic risk - evidence from bank runs in emerging economiesLevy-Yeyati, Eduardo; Martinez Peria, Maria Soledad; Schmukler, Sergio L.2004/11
WPS3389Why do emerging economies borrow short term?Broner, Fernando A.; Lorenzoni, Guido; Schmukler, Sergio L.2004/09
WPS3161Liquidity needs and vulnerability to financial udnerdevelopmentRaddatz, Claudio2003/11
WPS3173Distributional effects of crises : the role of financial transfersMarina Halac; Sergio Schmukler2003/11
WPS3146The price of inconvertible deposits - the stock market boom during the Argentine crisisLevy Yeyati, Eduardo; Schmukler, Sergio L.; Van Horen, Neeltje2003/10
WPS3081The anatomy of a multiple crisis : why was Argentina special and what can we learn from it?Perry, Guillermo; Serven, Luis2003/06
WPS2980Living and dying with hard pegs : the rise and fall of Argentina's currency boardDe la Torre, Augusto; Levy Yeyati, Eduardo; Schmukler, Sergio L.2003/03
WPS2903Financial globalization : unequal blessingsDe la Torre, Augusto; Levy Yeyati, Eduardo; Schmukler, Sergio L.2002/10
WPS2912Short-run pain, long-run gain : the effects of financial liberalizationKaminsky, Graciela Laura; Schmukler, Sergio L.2002/10
WPS2678Emerging markets instability: do sovereign ratings affect country risk and stock returns?Kaminsky, Graciela ; Schmukler, Sergio2001/09
WPS2610Crisis and contagion in East Asia : nine lessonsKawai, Masahiro; Newfarmer, Richard; Schmukler, Sergio2001/06
WPS2399Managers, investors, and crises : mutual fund strategies in emerging marketsKaminsky, Graciela; Lyons, Richard; Schmukler, Sergio2000/07
20655Securing our future in a global economyDe Ferranti, David; Perry, Guillermo E.; Gill, Indermit S.; Serven, Luis; Ferreira, Francisco H.G.; Ilahi, Nadeem; Maloney, William F.; Rama, Martin2000/06
WPS2267Do high interest rates defend currencies during speculative attacks ?Kraay, Aart2000/01
WPS2259Predicting currency fluctuations and crises - do resident firms have an informational advantage?Kaufmann, Daniel; Mehrez, Gil; Schmukler, Sergio1999/12
WPS2094What triggers market jitters? A chronicle of the Asian crisisKaminsky, Graciela L.; Schmukler, Sergio L.1999/04
WPS2058Do depositors punish banks for "bad" behavior? : market discipline in Argentina, Chile, and MexicoMartinez Peria, Maria Soledad; Schmukler, Sergio L.1999/02




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