Financial Crises Propagation: A Comparison of the Russian and Turkish Crises

Elvira Sojli, Renee Fry

    Research output: Chapter in Book/Report/Conference proceedingChapter

    Abstract

    Emerging financial markets have largely proven resilient to the consequences of the Global Financial Crisis. While this owes much to the bitter experience and economic strategies developed and implemented following the Asian Financial Crisis of 1997–1998, providence also played a hand in that relatively few of its financial institutions were exposed to the complex structured products that underpinned the demise of many financial intermediaries in the United States and Europe. The objective of this volume is to investigate and assess the impact and response to the crisis in emerging markets from a number of perspectives. These include asset pricing, contagion, financial intermediation, market structure and regulation. Our hope is that the assembled chapters offer clear insights into the complex financial arrangements that now link emerging and developed financial markets in the current economic environment. The volume spans four dimensions: first, a series of background studies offer explanations of the causes and impacts of the crisis on emerging markets more generally; then, implications are considered. The third and final sections provide insights from regional and country-specific perspectives
    Original languageEnglish
    Title of host publicationThe Impact of the Global Financial Crisis on Emerging Financial Markets
    Editors Jonathan A. Batten and Peter G. Szilagyi
    Place of PublicationU.K.
    PublisherEmerald Group Publishing Ltd
    Pages495-522
    Edition1
    ISBN (Print)9780857247537
    Publication statusPublished - 2011

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