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The financial and fiscal stress interconnectedness : the case of G5 economies

Magkonis, G and Tsopanakis, A 2016, 'The financial and fiscal stress interconnectedness : the case of G5 economies' , International Review of Financial Analysis, 46 , pp. 62-69.

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Abstract

In this paper, we focus on the financial and fiscal stress transmission for the G5 economies. Using financial and fiscal stress indexes, we assess the spillovers within each economy, as well as the cross-sectional effects. Two supplementary methodologies, measuring the degree of interconnectedness, are employed. Our findings indicate that the interactions between these two kinds of distress are intensive, especially during and after the Global Financial Crisis outbreak. The above reiterates the necessity for coordinated macroprudential policies, as a means to confine the adverse effects of excessive financial and fiscal stress.

Item Type: Article
Schools: Schools > Salford Business School > Salford Business School Research Centre
Journal or Publication Title: International Review of Financial Analysis
Publisher: Elsevier
ISSN: 1057-5219
Related URLs:
Funders: Non funded research
Depositing User: Dr A Tsopanakis
Date Deposited: 27 Apr 2016 07:51
Last Modified: 01 Nov 2016 08:01
URI: http://usir.salford.ac.uk/id/eprint/38808

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