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Nonlinear Similarity Model of Financial Contagion: The Difference of the Subprime Crisis and the European Debt Crisis
Liu L(刘琳); Hui XF(惠晓峰); Shao YF(邵颖峰)
Source PublicationJOURNAL OF APPLIED SCIENCES
2013-11
Volume13Issue:11Pages:1934-1940
ISSN1812-5654
AbstractThis study develops a sign-modified nonlinear similarity model to study the contagion in financial crisis. We use the similarity index as an indicator to analyze the contagion of the United States and Greece to other six countries during the subprime crisis and the European debt crisis. Our results show that in the 2007-2009 subprime crisis the United States is the contagion source; and that in the 2010-2012 European debt crisis, the impacts of Greece to other countries are smaller than those of the United States except for Italy and Spain. We conclude that the harm of the financial crisis from a large economy is more severe than that from a small economy and the small economy's crisis mainly shocks the neighboring countries with similar economy.
KeywordSubprime Crisis European Debt Crisis Financial Contagion Nonlinear Similarity Similarity Index
Subject Area一般力学
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Indexed ByEI
Language英语
Funding OrganizationNational Natural Science Foundation of China (71173060)
DepartmentLNM生物材料微结构和力学性能
Document Type期刊论文
Identifierhttp://dspace.imech.ac.cn/handle/311007/48349
Collection非线性力学国家重点实验室
Corresponding AuthorLiu L(刘琳)
Recommended Citation
GB/T 7714
Liu L,Hui XF,Shao YF. Nonlinear Similarity Model of Financial Contagion: The Difference of the Subprime Crisis and the European Debt Crisis[J]. JOURNAL OF APPLIED SCIENCES,2013,13(11):1934-1940.
APA 刘琳,惠晓峰,&邵颖峰.(2013).Nonlinear Similarity Model of Financial Contagion: The Difference of the Subprime Crisis and the European Debt Crisis.JOURNAL OF APPLIED SCIENCES,13(11),1934-1940.
MLA 刘琳,et al."Nonlinear Similarity Model of Financial Contagion: The Difference of the Subprime Crisis and the European Debt Crisis".JOURNAL OF APPLIED SCIENCES 13.11(2013):1934-1940.
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