<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462019000200151</article-id>
<article-id pub-id-type="doi">10.21919/remef.v14i2.316</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Las correlaciones dinámicas de contagio financiero: Estados Unidos y América Latina]]></article-title>
<article-title xml:lang="en"><![CDATA[The Dynamic Correlations of Financial Contagion: the United States and Latin América]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rodríguez Benavides]]></surname>
<given-names><![CDATA[Domingo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Perrotini Hernández]]></surname>
<given-names><![CDATA[Ignacio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma Metropolitana  ]]></institution>
<addr-line><![CDATA[Azcapotzalco ]]></addr-line>
<country>México</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Nacional Autónoma de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<volume>14</volume>
<numero>2</numero>
<fpage>151</fpage>
<lpage>168</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462019000200151&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462019000200151&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462019000200151&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo principal del trabajo es proveer evidencia de contagio financiero entre el mercado accionario más representativo de los Estados Unidos y los principales mercados accionarios de América Latina: Argentina, Brasil, Chile y México en el periodo de 2002 a 2009. Con este fin estimamos las correlaciones dinámicas condicionales a través del modelo DCC a partir de la modelación de los rendimientos diarios de estos mercados. Una vez estimado el DCC, exploramos la posibilidad de contagio financiero del mercado accionario de Estados Unidos a los de América Latina. Para explicar los cambios repentinos en las correlaciones dinámicas entre el mercado accionario de Estados Unidos y los de América Latina estimamos un modelo cambio de régimen Markoviano de acuerdo a lo sugerido por Boffelli y Urga (2016). El análisis estadístico de las correlaciones dinámicas revela que el contagio financiero tuvo lugar en estos países mucho antes de la quiebra de Lehman Brothers.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The main objective of this work is to provide evidence of financial contagion between the most representative stock market of the United States and the main stock markets of Latin America: Argentina, Brazil, Chile, and Mexico, for the period of 2002-2009. To this end, the conditional dynamic correlations through the DCC model, based on the modeling of the daily yields of these markets, is estimated. Once the DCC is estimated, the possibility of financial contagion from the U.S. stock market to Latin American stock markets is considered. In order to explain the sudden changes in the dynamic correlations between the U.S. and Latin Américan stock markets, a Markovian regime change model was estimated, as suggested by Boffelli and Urga (2016). Statistical analysis of dynamic correlations reveals that financial contagion took place in these countries long before the collapse of Lehman Brothers.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Contagio financiero]]></kwd>
<kwd lng="es"><![CDATA[Crisis subprime]]></kwd>
<kwd lng="es"><![CDATA[correlaciones dinámicas condicionales]]></kwd>
<kwd lng="es"><![CDATA[Modelos Markov-Switching]]></kwd>
<kwd lng="es"><![CDATA[F30]]></kwd>
<kwd lng="es"><![CDATA[G15]]></kwd>
<kwd lng="en"><![CDATA[Financial contagion]]></kwd>
<kwd lng="en"><![CDATA[Subprime crisis]]></kwd>
<kwd lng="en"><![CDATA[Dynamic conditional correlations]]></kwd>
<kwd lng="en"><![CDATA[Markov-Switching models]]></kwd>
<kwd lng="en"><![CDATA[F30]]></kwd>
<kwd lng="en"><![CDATA[G15]]></kwd>
</kwd-group>
</article-meta>
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<person-group person-group-type="author">
<name>
<surname><![CDATA[Wang]]></surname>
<given-names><![CDATA[G.-J.]]></given-names>
</name>
<name>
<surname><![CDATA[Xie]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
<name>
<surname><![CDATA[Lin]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Stanley]]></surname>
<given-names><![CDATA[H. E]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Stock market contagion during the global financial crisis: A multiscale approach]]></article-title>
<source><![CDATA[Finance Research Letters]]></source>
<year>2017</year>
<volume>22</volume>
<page-range>163-8</page-range></nlm-citation>
</ref>
</ref-list>
</back>
</article>
