Transmission of the 2007-2008 financial crisis in advanced countries of the European Union

被引：1

作者：

Tomczak, Kamila ^{[1
]}

机构：

[1] Liverpool Hope Univ, Liverpool Hope Business Sch, Hope Pk, Liverpool L16 9JD, Merseyside, England

来源：

BULLETIN OF ECONOMIC RESEARCH | 2023年 / 75卷 / 01期

关键词：

contagion of financial crisis; 2007-2008 financial crisis; transmission of financial crisis; CONTAGIOUS CURRENCY CRISES; EARLY WARNING SYSTEMS; MONETARY-POLICY; BANKING; MARKETS; SHOCKS; TRADE; DETERMINANTS; INDICATORS; CHANNELS;

D O I：

10.1111/boer.12338

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The aim of this paper is to identify the main factors responsible for the 2007-2008 crisis development and transmission across the 10 developed European Union (EU) countries. In order to achieve this objective, trade and financial linkages, crisis contagion from the United States and EU countries and countries' internal and external economic vulnerabilities are examined. The results of logistic regression model covering the period from 2002 to 2012 presented in this paper indicate that the transmission of the crisis occurred through contagion from the United States but also from other EU countries. Additionally, the empirical results confirm that high inflation, a decrease in the exchange rate, and a decrease in the US long-term interest rates increased the probability of the 2007-2008 financial crisis.

引用

页码：40 / 64

页数：25