01671cas a2200253 a 4500 AALejournalIMF000745 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451857283 1018-5941 BD-DhAAL BD-DhAAL Baig, Taimur. Financial Market Contagion in the Asian Crisis / Taimur Baig, Ilan Goldfajn. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (61 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper tests for evidence of contagion between the financial markets of Thailand, Malaysia, Indonesia, Korea, and the Philippines. Cross-country correlations among currencies and sovereign spreads are found to increase significantly during the crisis period, whereas the equity market correlations offer mixed evidence. A set of dummy variables using daily news is constructed to capture the impact of own-country and cross-border news on the markets. After controlling for own-country news and other fundamentals, the paper shows evidence of cross-border contagion in the currency and equity markets. Mode of access: Internet Goldfajn, Ilan. IMF Working Papers; Working Paper ; No. 1998/155 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/155/001.1998.issue-155-en.xml IMF e-Library