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The Spillover Effects of the Global Crisison Economic Activity in Mena Emerging Market Countries: An Analysis Using the Financial Stress Index
Author:
Mr. Kenji Moriyama
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Series:
IMF Working Papers
Volume/Issue:
Volume 2010: Issue 008
Language:
English
Publication Date:
01 Jan 2010
DOI:
https://doi.org/10.5089/9781451961867.001
ISBN:
9781451961867
ISSN:
1018-5941
Pages:
21
Keywords:
WP; real GDP growth; economic activity; Spillover; financial stress; emerging market; GCC country; growth projection; advanced economy; emerging market country; countries in the Middle East and North Africa; Financial soundness indicators; Estimation techniques; Spillovers; Emerging and frontier financial markets; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The estimated spillover of the global crisis to emerging market (EM) economies in the Middle East and North Africa (MENA) indicates that nearly two-thirds of the increased financial stress in MENA EM countries after the Lehman shock is attributable to direct or indirect spillovers of financial stress in advanced economies. Moreover, the estimated models suggest that the increased financial stress and slowdown in economic activity in advanced economies can explain about half of the drop in real GDP growth in MENA EM countries after the Lehman shock.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund