Bulletin of Business and Economics (BBE)

ISSN - 2414-1771 (Print)

ISSN - 2409-9368 (Online)

Contagion: Recent Models in International Finance Literature


Can Sever


Sever, C. (2016). Contagion: Recent Models in International Finance Literature. Bulletin of Business and Economics, 5(2), 59-66.


Due to intensified economic globalization, cross-country linkages have become the channel through which country-specific shocks may affect financial conditions and macroeconomic variables across borders. Since financial crises of 1990s, crisis propagation has become a contentious issue. Especially after the recent global financial crisis, contagion has attracted considerable attention both from the academia and policymakers. This survey investigates recent model-based approaches on contagion in international finance literature.


Contagion, international financial integration, international business cycles, interdependence, financial crisis, shock transmission

Jel Code:

F15, F36, F41, F44, F62, G15, G21

Article Type:

Research Article




Research Foundation for Humanity (RFH)

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