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Crises, Capital Controls, and Financial Integration

Yeyati, Eduardo Levy; Schmukler, Sergio L.; Van Horen, … - 2012

This paper analyzes the effects of capital controls and crises on international financial integration, using data on stocks from emerging economies that trade in domestic and international markets. The cross-market premium (the ratio between the domestic and international market price of...

Persistent link: https://www.econbiz.de/10012552205

Bank Involvement with SMEs : Beyond Relationship Lending

de la Torre, Augusto; Mart??nez Per??a, Mar??a Soledad; … - 2012

The "conventional wisdom" in academic and policy circles argues that, while large and foreign banks are generally not interested in serving SMEs, small and niche banks have an advantage in doing so because they can overcome SME opaqueness through relationship lending. This paper shows that there...

Persistent link: https://www.econbiz.de/10012552437

International Financial Integration through Equity Markets : Which Firms from Which Countries Go Global?

Claessens, Stijn; Schmukler, Sergio L. - 2012

equity, and cross-listing in major world stock markets. Using a large sample of 39,517 firms from 111 countries covering the …

Persistent link: https://www.econbiz.de/10012552596

Quantifying International Migration : A Database of Bilateral Migrant Stocks

Parsons, Christopher R.; Skeldon, Ronald; Walmsley, … - 2012

immigration draws heavily on Eastern Europe, Central Asia, and the Mediterranean region. Over one-third of world migration is from …

Persistent link: https://www.econbiz.de/10012552614

Internationalization and the Evolution of Corporate Valuation

Gozzi, Juan Carlos; Levine, Ross; Schmukler, Sergio L. - 2012

By documenting the evolution of Tobin's q before, during, and after firms internationalize, the authors provide evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, they find that...

Persistent link: https://www.econbiz.de/10012553757

Distributional Effects of WTO Agricultural Reforms in Rich and Poor Countries

Hertel, Thomas W.; Keeney, Roman; Ivanic, Maros - 2012

Rich countries' agricultural trade policies are the battleground on which the future of the WTO's troubled Doha Round will be determined. Subject to widespread criticism, they nonetheless appear to be almost immune to serious reform, and one of their most common defenses is that they protect...

Persistent link: https://www.econbiz.de/10012553878

Trade and Employment : Stylized Facts and Research Findings

Hoekman, Bernard; Winters, L. Alan - 2012

subset of the literature focusing on trade policy and integration into the world economy. Although in the longer run trade …

Persistent link: https://www.econbiz.de/10012554135

Poverty Impacts of a WTO Agreement : Synthesis and Overview

Hertel, Thomas W.; Winters, L. Alan - 2012

are built up using newly available tariff line data and their implications for world markets are established using a … global modeling framework. These world trade impacts, in turn, form the basis for 12 country case studies of the national … cross-section analysis, and a global analysis provides estimates for the world as a whole. …

Persistent link: https://www.econbiz.de/10012554212

On the International Transmission of Shocks : Micro-Evidence from Mutual Fund Portfolios

Raddatz, Claudio; Schmukler, Sergio L. - 2012

Using micro-level data on mutual funds from different financial centers investing in equity and bonds, this paper analyzes how investors and managers behave and transmit shocks across countries. The paper shows that the volatility of mutual fund investments is quantitatively driven by investors...

Persistent link: https://www.econbiz.de/10012554504

Financial Globalization in Emerging Countries : Diversification vs. Offshoring

Ceballos, Francisco; Didier, Tatiana; Schmukler, Sergio L. - 2012

transactions take place. The authors find that globalization via the diversification channel expanded throughout the world during …

Persistent link: https://www.econbiz.de/10012554536