This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...

We examine the role of demand composition in explaining the trade collapse and recovery during the ongoing covid-19 crisis. We apply an import-intensity-adjusted measure of demand to examine import trends in 40 advanced and emerging economies over the period 1Q95 to 4Q20. We focus on the crisis...

In our paper, we provide a review of the literature to identify the main transmission channels through which geopolitical risks (GPR) influence m a cro-financial st ab ility. We be gi n by analyzing the existing measures of geopolitical tensions and uncertainty, showing that GPR impacts economic...

This study investigates the impact of global crisis shocks on India's trade and industry. We use both panel data modeling and vector autoregression techniques to understand the dynamic effects of global crisis shocks on Indian industry and trade. The estimated results of panel data models show...

I study the causal effect of the foreign aid for development assistance —implemented by the U.S. Agency for International Development (USAID)— on the intensity of municipality-level armed conflict in Colombia, for the period 2009-2013. To address potential endogeneity biases, I use a...

While force eradication through aerial spraying has large social costs, there is no evidence of the unexpected consequences of alternative development programs. This paper suggests an unintended effect of the largest crop substitution program in the world on political violence exploiting data on...

I study the impact of rebel governance on economic development in rural Colombia. In 1998 the Colombian government created a 42,000 square km demilitarized zone (DMZ) to negotiate with FARC, Colombia's largest and oldest rebel group. Using a spatial regression discontinuity design, I exploit the...

The sheer size of the EU and US economies combined suggests substantial economic benefits from eliminating tariffs, reducing the costs of regulatory divergence, and deepening cooperation. Estimating these gains is difficult: uncertainty concerning modelling choices, data, and scenarios looms...

The global economic crisis has affected the East Asian economies via trade and investment. The export-led model which had been responsible for the "East Asian Miracle " now must redirect the basis of growth from exports sent to the US and Europe to regional and domestic demand. Regional trade...

Although the overall economic performance of economies in South Asia in recent years has been impressive, there is concern that an aging and increasingly inadequate infrastructure may limit the potential for further growth and economic development. A critical infrastructure component is the...