Sector Spillover and Contagion of Global Financial Crisis

Sector Spillover and Contagion of Global Financial Crisis

阮弘戰(Nguyen Hong Chien)

指導教授 ： 黃介良

國立中正大學/管理學院/財務金融學系/碩士(2014年)

並列摘要

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.

並列關鍵字

Capital intensity ； External finance dependence ； Sector spillover ； Sector contagion ； Financial contagion ； International linkage

參考文獻

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