Information flows during Asian crisis-BIS paper

In a BIS working paper "Information flows during the Asian crisis: Evidence from closed-end funds" Benjamin H Cohen and Eli M Remolona look at the collapse of stock markets that took place over several months during the Asian crisis in 1997 and ask what information was driving the markets: Did information flow from the domestic Asian markets to overseas markets, or vice versa?

Abstract for working paper No. 97

A salient feature of the Asian crisis of 1997 was a collapse of stock markets that took

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