ROLA KANAŁU HANDLOWEGO I FINANSOWEGO W ZARAŻENIU PAŃSTW ROZWINIĘTYCH I ROZWIJAJĄCYCH SIĘ
ROLE OF THE TRADE AND FINANCIAL CHANNELS OF CONTAGION IN THE DEVELOPED AND THE DEVELOPING COUNTRIES

Summary/Abstract: The article presents the definition of the contagion phenomenon and an outline of its theory. The aim of the article was to empirically confirm the actual occurrence of contagion and to indicate the differences between the developed and the developing countries in terms of the impact of the trade and financial channels of contagion. A logit estimation was incorporated in order to verify the previously stated hypotheses. The estimation allowed positive verification of the hypotheses. The occurrence of contagion was confirmed and it was proved, that the financial channel is the main channel of contagion. The trade channel had more of an impact on the developed countries. Originality, value – the results presented in the text are the effect of the author’s fully original work. A large sample (both, in terms of the number of countries and research period) and the division between the developed and developing countries seem to be the main added value of the article.

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