This paper brings forward a three-country model to analyze the internationalization process in the age of globalization …

. Rather than empowering the poor in the developing world they legitimise and intensify mechanisms that subject them to closer …

with those of the rest of the world. We analyse the relative importance of US, country-specific, and global variables as …. Global and national risk indicators perform better in explaining “rest of the world” flows. Moreover, we find that the … correlation between US and rest of the world flows peaks in periods of elevated uncertainty. We interpret our findings as evidence …

complex real-life networks, the global inter-lender network displays small world properties that insulate the network from …