financial contagion

financial contagion definition - business

financial contagion

A financial problem that spreads among companies or regions. For example, Russia's 1998 default triggered sharp declines in the market values of debt issued by emerging countries.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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