Intro -- Contents -- I. INTRODUCTION AND DATA -- II. UPDATED INDICATORS OF CENTRAL BANK AUTONOMY IN SELECTED OECD COUNTRIES -- III. AUTONOMY INDICATORS FOR EMERGING MARKETS AND DEVELOPING COUNTRIES -- IV. PROGRESS TOWARDS AUTONOMY IN EMERGING MARKETS AND DEVELOPING COUNTRIES -- V. OVERVIEW OF...

Cross-border payments can be slow, expensive, and risky. They are intermediated by counterparties in different jurisdictions which rely on costly trusted relationships to offset the lack of a common settlement asset as well as common rules and governance. In this paper, we present a vision for a...

We construct a novel measure of technology adoption, the Embodied Technology Imports Indicator (ETI), available for 181 countries over the period 1970-2020. The ETI measures the technological intensity of imports of each country by leveraging patent data from PATSTAT and product-level trade data...

Intro -- Contents -- I. INTRODUCTION -- II. THE MAIN STYLIZED FACTS: AGGREGATE DATA -- III. THE MAIN STYLIZED FACTS: BILATERAL DATA -- IV. CAPITAL FLOWS AND EXTERNAL ADJUSTMENT -- V. CONCLUDING REMARKS -- REFERENCES.

Intro -- Contents -- I. INTRODUCTION -- II. EMPIRICAL METHODOLOGY AND SAMPLE -- III. GROWTH AND FISCAL ADJUSTMENT IN TRANSITION COUNTRIES: SOME STYLIZED FACTS -- IV. ECONOMETRIC MODEL RESULTS -- V. QUALITATIVE ANALYSIS OF COUNTRY EXPERIENCES -- VI. CONCLUSIONS -- References.

This paper examines the behavior of bank soundness indicators during episodes of brisk loan growth, using bank-level data for central and eastern Europe and controlling for the feedback effect of credit growth on bank soundness. No evidence is found that rapid loan expansion has weakened banks...

The emerging European economies have been converging rapidly towards the more advanced European economies in recent years. However, large external imbalances in parts of the region have raised questions about sustainability and concerns about vulnerabilities. Empirical evidence in this paper...

Recent developments have increased questions about vulnerabilities in Central and Eastern European Countries (CEE) that are experiencing credit booms. This paper analyzes the role of foreign-owned banks in these credit booms. The results show that the CEE countries depend on foreign banks, and...

The paper relies on a firm-level data on transition economies to examine the relationship between informality and bank credit. We find evidence that informality is robustly and significantly associated with lower access to and use of bank credit. We also find that higher tax compliance costs...