This paper studies the cross-country patterns of risky innovation and growth through the lens of international trade. It uses a simple theoretical framework of risky quality upgrading by firms under varying levels of financial development to derive two predictions. First, the mean rate of...

International connections through trade, foreign direct investment, migration, the Internet, and other channels are critical for the transmission of knowledge and growth and form macroeconomic linkages. But how much knowledge is transmitted to a country is not only the result of the overall...

This paper examines the state of reverse mortgage markets in selected countries around the world and considers the potential benefits and risks of these products from a financial inclusion and economic benefit standpoint. Despite potentially increasing demand from aging societies - combined with...