Sector Spillover and Contagion of Global Financial Crisis

• Main Authors: Nguyen Hong Chien, 阮弘戰
• Other Authors: Chai-Liang Huang
• Format: Others
• Language: en_US
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/06838528817901643608

碩士 === 國立中正大學 === 財務金融研究所 === 103 === This thesis studies the spread of international financial spillover and contagion effects of the 2008 global financial crisis (GFC), and its transmission mechanisms at sector level. It investigates the effects from US financial sector to the real economy of the world by examining 12 sectors in 28 major developed and emerging economies. At the same time, the potential causes of the financial spillover and contagion effects are investigated. The analyses show that there was financial spillover from the US to other countries in the world, and the effect was significantly increased after crisis with financial contagion to some countries. The potential causes of these effects including international investment, foreign trade between US and other countries. In addition, it also finds that external finance dependence, market concentration, capital intensity, liquidity, leverage, and profitability of the firms in each sector in all countries are important factors leading to these effects.