Financial Crisis

What is it about?

This paper empirically examines the degree of synchronicity among select financial variables with an aim to capture the risk of contagion and its culmination into financial crises. In this context, reference to the importance of early warning models has been made.

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Why is it important?

It is being discussed everywhere whether financial development and integration leads to greater transmission of risks across countries or not. This paper provides an empirical validation to that observation.