Research Discussion Paper – RDP 2001-03 The Response of Financial Markets in Australia and New Zealand to News About the Asian Crisis

Contents

• Introduction
• Motivation and Data
• The Response to News
• Comparing Spillover in Crises and at Other Times
• Conclusion
• Appendix A: Chronology of Major Events in the Asian Crisis
• References

We are indebted to colleagues at the Reserve Bank of Australia, participants at seminars at the BIS and the London School of Economics and to Mardi Dungey for invaluable comments and suggestions. We are also grateful to Adam Cagliarini for technical advice, and Clare Padua for assistance with the data. Any errors are ours alone. The opinions expressed in this paper are those of the authors and should not be attributed to the
Reserve Bank of Australia.