international ones induced by capital controls. Crises affect financial integration by generating more volatility in the cross …-market premium and putting more downward pressure on domestic prices. "--World Bank web site …

, Development Research Group--is part of a larger effort in the group to study market discipline"--World Bank web site …

"In contrast with a growing literature on the drivers of aggregate volatility in developing countries, its consequences … aggregate volatility has a regressive, asymmetric, and non linear impact, as reflected in the strong influence of extreme output …. "--World Bank web site …