A mechanism of international transmission of financial crises

  • Taisei Kaizoji
Conference paper


This paper proposes a model of international financial market that is based on the statistical mechanics. The aim of this paper is (i) to show a mechanism of international transmission of financial shocks, and (ii) to explain the stylized facts characterizing in periods of international financial crises by using the model.


Stock Market Stock Return Foreign Market Domestic Market Stylize Fact 
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Copyright information

© Springer Japan 2002

Authors and Affiliations

  • Taisei Kaizoji
    • 1
    • 2
  1. 1.Depaertment of EconomicsUniversity of KielKielGermany
  2. 2.Division of Social SciencesInternational Christian UniversityMitaka, TokyoJapan

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