In the past decade, Germany has been the world champion in exporting capital (“Exportweltmeister”). No other country invested larger amounts of savings outside its borders. However, we find that Germany plays in the third division when it comes to investment performance. To show this, we...

Financial globalization has led to a large increase in international asset holdings. While the rise of associated dividend and interest flows has until now been muted by the decreasing trend in interest rates, this pattern could change, leading to a larger role of investment income flows in the...

This paper aims to examine the influence of controlling corruption, tax burden reduction, price stability and trade liberalization on trade-related illicit financial flows. The analysis focuses on a sample of 120 developing and emerging countries, drawn from data collected over the period...

What explains the US dollar's role in the global economy and the tensions affecting its likely persistence? Most analyses start from Triffin's dilemma, which accurately captured specific but partial tensions of a global monetary system based on essentially fixed exchange rates, gold backing for...