Financial globalisation has led to large increases in foreign assets and liabilities in recent decades, increasing the scope for valuation changes that are potentially greater than trade or financial flows. We confirm that the United States enjoys an 'exorbitant privilege' on flow income from...

The slow progress and modest achievements of regional integration in South Asia have generated a huge amount of skepticism about its role as an effective strategy of growth. The present study, however, argues that there is need to forge deeper integration within the region. It examines the...

Using sector-level data on bilateral greenfield investment for 198 source and destination countries over 2003-2018 in a structural gravity model, we examine the likely effect of the African Continental Free Trade Area (AfCFTA) on African investment. Conditional general equilibrium estimates from...