Determinants of financial stress in emerging market economies: Are spatial effects important?

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dc.contributor.authorYurteri Kösedağlı B.
dc.contributor.authorÖnder A.Ö.
dc.date.accessioned2021-05-03T20:54:13Z
dc.date.available2021-05-03T20:54:13Z
dc.date.issued2020
dc.description.abstractThis study aims to analyse the determinants of financial stress and to show the impact of the spatial linkages between 13 emerging economies during 1996–2016. The 2007 Global Financial Crisis has once again showed that financial/economic turmoil of countries has negative effects on other economies. At this point, this study brings novelty to the existing literature by considering the effects of neighbour countries' macroeconomic variables on domestic financial stress and by focusing on financial stress interaction between emerging economies using spatial econometric methods. According to the estimation results, we find current account balance/GDP, economic growth, geopolitical risk and global risk are the most important determinants of financial stress. It is also observed that there is a strong interaction of financial stress among emerging market economies. While geographical linkage is the most important transmission channel of financial stress among those economies, financial and trade linkages also play an important role. © 2020 John Wiley & Sons, Ltd.en_US
dc.description.sponsorshipTürkiye Bilimsel ve Teknolojik Araştirma Kurumu, TÜBITAKen_US
dc.description.sponsorshipA preliminary version of the paper was presented in the ICEESS18, International Conference on Empirical Economics and Social Sciences, June 29–30, Balıkesir/Turkey. The authors would like to thank the editor, Mark Taylor and the anonymous referees for their valuable comments that helped to improve the final version of this paper. The corresponding author gratefully acknowledges research support from the Scientific and Technological Research Council of Turkey (TUBITAK). 'en_US
dc.identifier.doi10.1002/ijfe.2035
dc.identifier.issn1076-9307
dc.identifier.issn1076-9307en_US
dc.identifier.scopus2-s2.0-85096687673en_US
dc.identifier.scopusqualityQ2en_US
dc.identifier.urihttps://doi.org/10.1002/ijfe.2035
dc.identifier.urihttps://hdl.handle.net/11454/71245
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherJohn Wiley and Sons Ltden_US
dc.relation.ispartofInternational Journal of Finance and Economicsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectemerging market economiesen_US
dc.subjectfinancial contagionen_US
dc.subjectfinancial crisisen_US
dc.subjectfinancial stress indexen_US
dc.subjectspatial econometricsen_US
dc.titleDeterminants of financial stress in emerging market economies: Are spatial effects important?en_US
dc.typeArticleen_US

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