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  • Thumbnail for ANALYZING ASSET MARKET CONTAGION DURING CRISES FROM EMERGING ASIAN MARKETS TO THE US
    ANALYZING ASSET MARKET CONTAGION DURING CRISES FROM EMERGING ASIAN MARKETS TO THE US by Howe, Daniel

    This paper investigates whether, during the Asian crisis, the dotcom bubble, and the global crisis, contagion occurred from emerging Asian markets to the US through the stock market. More specifically, this paper explores price comovements between emerging Asian markets (India, Indonesia, the Philippines, Thailand), and two separate control groups (Japan and Europe). The indices selected to represent these markets were the SSEC, BSESN, TOPX, JKSE, SETI, STOXX50, PSI, HSI, and the S&P500. I analyzed a 20-year period from January 1997 to December 2016. The results imply that all markets I studied share interdependence with the US; furthermore, China demonstrates the least amount of price comovements with the US. Finally, I showed that during both the Asian crisis and the dotcom bubble countries such as India, Hong Kong, and Europe, actually de-coupled their markets from the US’s.