Intro -- Contents -- EXECUTIVE SUMMARY -- I. INTRODUCTION -- II. A BRIEF OVERVIEW OF THEORY -- III. MEASURING FINANCIAL OPENNESS -- IV. PATTERNS OF FINANCIAL GLOBALIZATION -- V. MACROECONOMIC EVIDENCE ON EFFECTS OF FINANCIAL GLOBALIZATION -- VI. HOW DOES THE COMPOSITION OF CAPITAL FLOWS MATTER?...

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...

This paper presents the “Ukraine Support Tracker”, which lists and quantifies military, financial and humanitarian aid to Ukraine in the context of the Russia-Ukraine war. This third version covers government commitments between January 24 and May 10, 2022. We now track support by 37...

This paper introduces the “Ukraine Support Tracker”, which lists and quantifies military, financial and humanitarian aid to Ukraine since Russia’s invasion on February 24, 2022. We measure support from Western governments, namely by G7 and European Union member countries. Due to our focus...