Financial contagious in emergent countries.

This research attempts to determine the existence of the financial contagious in anemergent Latin-American countries sample during recent financial crisis. For doing so, thebehaviour of sovereign bond spread is studied. These are measured based on the EmergingMarkets Bond Index Plus (embi+) elaborated by JP Morgan. Likely, returns of thebourse index are studied based on the Morgan Stanley Capital International (msci)index. Correlations among these countries, the behaviours of the capital cash flows lead tothese markets, and the co-movements among such returns are also presented. In the resultswe can mention that the evidence of the contagious is weak. Although temporal variationscorrelations are hard to re-conciliate with financial and veritable factors, it is not possibleto conclude that the contagious among those countries during the analyzed periods of crisisexits. It could be to think that the named “financial contagious” can be due to domesticfinancial political errors copied through the affected countries answering to common economicalshocks affecting countries with similar characteristics.

• Autores: Bernardo Bernardi Carriello
• Fecha de publicación: 2011
• Institución: Universidad del Norte
• Repositorio: Repositorio Uninorte
• Idioma: spa
• OAI Identifier: oai:manglar.uninorte.edu.co:10584/4841
• Acceso en línea: http://rcientificas.uninorte.edu.co/index.php/pensamiento/article/view/3583; http://hdl.handle.net/10584/4841
• License: http://purl.org/coar/access_right/c_abf2