01661cas a2200253 a 4500 AALejournalIMF007868 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451844801 1018-5941 BD-DhAAL BD-DhAAL Valdes, Rodrigo. What Drives Contagion : Trade Neighborhood, or Financial Links? / Rodrigo Valdes, Leonardo Hernandez. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (22 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 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. Mode of access: Internet Hernandez, Leonardo. IMF Working Papers; Working Paper ; No. 2001/029 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/029/001.2001.issue-029-en.xml IMF e-Library