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Financial interdependence or contagion? evidence from a meta-analysis

During the last two decades, the phenomenon of financial contagion has been investigated in numerous pieces of research. In spite of its severe implications for the stability of domestic financial systems as well as potential diversification benefits of international portfolio investment, there has...

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Main Authors: Zhang, H. C., Mohamad, Azhar, Hamid, Zarinah
Format: Article
Language:English
English
Published: Statistical Economic and Social Research and Training Centre for Islamic Countries 2019
Subjects:
H61 Theory. Method
HG Finance
HG4501 Stocks, investment, speculation
Online Access:http://irep.iium.edu.my/78386/1/Financial%20Interdependence-Meta%20regression%20analysis-Journal%20of%20Econ%20Cooperation.pdf
http://irep.iium.edu.my/78386/7/78386_Financial%20interdependence%20or%20contagion-%20Evidence%20from%20a%20meta-analysis_Scopus.pdf
http://irep.iium.edu.my/78386/
https://www.sesric.org/pdf.php?file=ART16121601-2.pdf
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spelling my.iium.irep.783862020-02-14T02:39:16Z http://irep.iium.edu.my/78386/ Financial interdependence or contagion? evidence from a meta-analysis Zhang, H. C. Mohamad, Azhar Hamid, Zarinah H61 Theory. Method HG Finance HG4501 Stocks, investment, speculation During the last two decades, the phenomenon of financial contagion has been investigated in numerous pieces of research. In spite of its severe implications for the stability of domestic financial systems as well as potential diversification benefits of international portfolio investment, there has yet to be universally agreed conclusion on the relevance of financial contagion. Thus, our current study has been designed to apply the meta-analysis approach to investigate the statistical significance of financial contagion based on past empirical contagion studies. Our meta-analysis concludes that financial contagion is a significant phenomenon. As implications, policy makers should establish contingent credit lines to ensure the liquidity of financial market during the turbulence time, and portfolio investors should diversify away from the potentially contagious markets. It is suggested that future contagion-based meta-analysis may include contagion studies with different methodologies, as well as meta-regression analysis to provide more insights on the sources of variability in the contagion studies. Statistical Economic and Social Research and Training Centre for Islamic Countries 2019 Article PeerReviewed application/pdf en http://irep.iium.edu.my/78386/1/Financial%20Interdependence-Meta%20regression%20analysis-Journal%20of%20Econ%20Cooperation.pdf application/pdf en http://irep.iium.edu.my/78386/7/78386_Financial%20interdependence%20or%20contagion-%20Evidence%20from%20a%20meta-analysis_Scopus.pdf Zhang, H. C. and Mohamad, Azhar and Hamid, Zarinah (2019) Financial interdependence or contagion? evidence from a meta-analysis. Journal of Economic Cooperation and Development, 40 (1). pp. 79-102. ISSN 1308-7800 https://www.sesric.org/pdf.php?file=ART16121601-2.pdf
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic H61 Theory. Method
HG Finance
HG4501 Stocks, investment, speculation
spellingShingle H61 Theory. Method
HG Finance
HG4501 Stocks, investment, speculation
Zhang, H. C.
Mohamad, Azhar
Hamid, Zarinah
Financial interdependence or contagion? evidence from a meta-analysis
description During the last two decades, the phenomenon of financial contagion has been investigated in numerous pieces of research. In spite of its severe implications for the stability of domestic financial systems as well as potential diversification benefits of international portfolio investment, there has yet to be universally agreed conclusion on the relevance of financial contagion. Thus, our current study has been designed to apply the meta-analysis approach to investigate the statistical significance of financial contagion based on past empirical contagion studies. Our meta-analysis concludes that financial contagion is a significant phenomenon. As implications, policy makers should establish contingent credit lines to ensure the liquidity of financial market during the turbulence time, and portfolio investors should diversify away from the potentially contagious markets. It is suggested that future contagion-based meta-analysis may include contagion studies with different methodologies, as well as meta-regression analysis to provide more insights on the sources of variability in the contagion studies.
format Article
author Zhang, H. C.
Mohamad, Azhar
Hamid, Zarinah
author_facet Zhang, H. C.
Mohamad, Azhar
Hamid, Zarinah
author_sort Zhang, H. C.
title Financial interdependence or contagion? evidence from a meta-analysis
title_short Financial interdependence or contagion? evidence from a meta-analysis
title_full Financial interdependence or contagion? evidence from a meta-analysis
title_fullStr Financial interdependence or contagion? evidence from a meta-analysis
title_full_unstemmed Financial interdependence or contagion? evidence from a meta-analysis
title_sort financial interdependence or contagion? evidence from a meta-analysis
publisher Statistical Economic and Social Research and Training Centre for Islamic Countries
publishDate 2019
url http://irep.iium.edu.my/78386/1/Financial%20Interdependence-Meta%20regression%20analysis-Journal%20of%20Econ%20Cooperation.pdf
http://irep.iium.edu.my/78386/7/78386_Financial%20interdependence%20or%20contagion-%20Evidence%20from%20a%20meta-analysis_Scopus.pdf
http://irep.iium.edu.my/78386/
https://www.sesric.org/pdf.php?file=ART16121601-2.pdf
_version_ 1662753814200975360
score 13.211869

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