The Causes of Contagion： Rational or Irrational Behavior？  

作　　者：Viorel Cratciuneanu Andreea Pardau Carmen Emilia Pascal 

机构地区：[1]Bucharest Academy of Economic Studies, Bucure~ti, Romania University of Pite~ti, Pite~ti, Romania [2]Bucharest Academy of Economic Studies, Bucuresti, Romania

出　　处：《Journal of Modern Accounting and Auditing》2013年第11期1507-1518,共12页现代会计与审计（英文版）

摘　　要：The threats concerning financial stability seriously affect the overall functioning of the economy at a local, regional, national, and continental level instead of a global level, and therefore, the emphasis is laid on analyzing the causes and effects of such threats. Financial crises in the current decade, as well as those in the past have shown that a major cause of instability in the global market is the so-called financial contagion. This leads to a natural question： whether similar authorities could specify and mitigate these shocks through efficient calculation followed by stability measures taken by banking networks. To answer this question, an empirical research was conducted by analyzing the degree of contagion induced by markets in Central and Eastern Europe, based on an econometric model, involving over 17 European countries, from January 2006 to January 2013.

关 键 词：financial crisis contagion social protection systemic risk 

分 类 号：F224.0[经济管理—国民经济] F833.05