02178cas a2200253 a 4500 AALejournalIMF009639 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451868258 1018-5941 BD-DhAAL BD-DhAAL Ganguly, Srideep. Financial Linkages Between the U.S. and Latin America : Evidence from Daily Data / Srideep Ganguly, Roberto Benelli. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (35 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 Motivated by recent bursts of global financial market turbulence, this paper investigates the linkages between the financial markets in the United States and those of the seven largest Latin American economies, focusing on the impact of shocks originating in the U.S. stock, bond, and currency markets. After documenting that cross-country linkages were different in "tranquil" and "turbulent" times within our sample, we find that: (i) for stock markets, recent episodes of market turbulence stood out from preceding ones as they showed an increased sensitivity of Latin American markets to U.S. shocks, reversing a trend of weakening linkages; (ii) currency markets in Latin America exhibited a decrease in cross-market linkages with the U.S. during the last episodes of volatility, consistent with increased exchange rate flexibility in the region; and (iii) the external bond markets in Latin America remained on a trend of weakening linkages with U.S. corporate bonds, while they increased their sensitivity to movements in other emerging market bond markets. Mode of access: Internet Benelli, Roberto. IMF Working Papers; Working Paper ; No. 2007/262 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/262/001.2007.issue-262-en.xml IMF e-Library