En Büyük Küresel Finansal Kriz: Amerika’dan mı Yayıldı Yoksa Sadece bir Karşılıklı Bağımlılık mı?

Bu çalışma 2008 Mortgage krizininin Türkiye’nin de içinde bulunduğu gelişmekte

Anahtar Kelimeler:

Krizlerin Bulaşması, Borsaların Bağımlılığı, Dinamik Korrelasyon

The Greatest Global Financial Crisis: Contagion from the United States or Only Interdependence?

Comparing tranquil and shock periods’ dynamic conditional correlations; this studytests presence of “contagion effect” from the US to the group of countries that includesTurkey too -emerging European countries- during the latest global financial crisis(2008 Mortgage Crisis). The results reveal that although the contagion effect wasobserved for some of the emerging European countries, the crises did propagate to therest of the emerging European countries due to strong normal day interdependence.The results reveal some key implications regarding methodological issues too as theconclusion regarding the presence of the contagion is highly dependent oneconometric specifications and sample period diversifications.

Keywords:

Contagion, Interdependence, Dynamic Conditional Correlation,

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