Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1003243 | Research in International Business and Finance | 2007 | 16 Pages |
Abstract
Powerful earthquakes may cause heavy damage to the financial markets of individual countries (regions), and may even spillover to other countries (regions). Using 26 international stock indexes and exchange rates, this study examines whether any contagion effect occurred across financial markets after the strong earthquake in South-East Asia on December 26, 2004. Using heteroscedasticity biases based on correlation coefficients to examine the existence of the contagion effect, this study shows that no individual country stock market suffered from the contagion effect, but that the foreign exchange markets of some countries (namely India, Philippines and Hong Kong) did suffer from the contagion effect.
Keywords
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Business and International Management
Authors
Hsien-Yi Lee, Hsing-Chi Wu, Yung-Jang Wang,