Abstract
The currency crises in the 1980s and 1990s prompted a resumption of studies on this economic phenomenon, particularly on the propagation of crises -often referred to as contagion. understanding of contagion has very important policy implications as it can help us determine whether propagation can be either stopped or avoided. Despite theoretical and empirical advancements, some questions remain open. For example, is there a universal and formal deftnition of crisis as well as of contagion. Nonetheless, there is a consensus over the channels by which crises spread.
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Rawdanowicz, Ł. (2003). Propagation of Currency Crises — The Case of the Russian Crisis. In: Dąbrowski, M. (eds) Currency Crises in Emerging Markets. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-0343-9_6
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DOI: https://doi.org/10.1007/978-1-4615-0343-9_6
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