Abstract What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They … are all examples of global risks that can cross geographical and generational boundaries and whose mismanagement can … reverse gains in development and jeopardize the well-being of generations. Managing risks such as these becomes a global …

In the wake of the COVID-19 crisis, governments around the world announced unprecedented fiscal packages to address the … international organizations attempted to assess the "greenness" of the fiscal policy response of the world's largest economies. This …

Abstract In this paper we ask whether countries can influence their exposure to changes in global financial conditions …. Specifically, we show that even though we can model cross-country capital flows via a global factor that closely tracks changes in … global financial conditions, there is a large degree of heterogeneity in the sensitivity of each country to this same global …

global datasets. During the pandemic, fiscal frameworks were put to test. The widespread use of escape clauses was one of the …

flows. Despite more dominant global factors, we find that these domestic factors played an important role, particularly for … emerging markets and bond flows, contributing to a global wave of reallocation to safer asset classes. Our results indicate … global shock and that pre-COVID macroeconomic conditions, such as lower sovereign risk and higher trade openness, contributed …

in mismatch was smaller during the COVID-19 pandemic than during the Global Financial Crisis. The results are robust to …