measures, the financial globalization index corrects for the heteroscedasticity of global volatility. This leads to a downward … globalization reduces market volatility (measured by the volatility of stock returns) in tranquil times, and increases it in … turbulent ones. On average, the first effect dominates, so that financial globalization leads to a decrease in market volatility …

-- run growth and another studying its impact on volatility and crisis?has given way to a more nuanced approach that analyzes … trade-off between higher economic growth and higher crisis risk; and its main conclusion is that, for at least middle …-income countries, the positive growth effects outweigh the negative crisis risk impact. This balanced view has been revisited recently …

system on volatility in gross domestic product per capita and consumption per capita growth. It also examines the impact of … volatility even after controlling for the quality of institutions and periods of financial crises. In large financial systems …, finance may not help individuals smooth consumption volatility. The threshold at which finance's effect may be volatility …

This paper presents estimates of the effects that terms of trade volatility has on growth of real gross domestic … that: (i) in model specifications that do not include country fixed effects, terms of trade volatility has a significant … terms of trade volatility on economic growth is not significantly different from zero; (iii) robust to the inclusion of …

This paper studies how firm-level export performance is affected by Real Exchange Rate (RER) volatility and … than 100,000 Chinese exporters over the 2000-6 period. The results confirm a trade-deterring effect of RER volatility …. Firms' decision to begin exporting and the exported value decrease for destinations with higher exchange rate volatility …

risk and therefore growth volatility associated with short-term financing. Increased availability of long-term finance …This paper examines how the ability to access long-term debt affects firm-level growth volatility. The analysis finds … growth volatility in countries with better-developed financial systems, as these firms may benefit from reduced refinancing …

Previous sharp oil price declines have been accompanied by elevated ex post volatility. In contrast, volatility was … price declines. This finding is robust to nonparametric and GARCH measures of volatility. Further, the U.S. dollar … appreciation exerted a strong influence on volatility during the recent crash; in contrast, the impact of shocks on equity markets …

This paper investigates the adverse effects of oil price volatility on economic activity and the extent to which … countries can hedge against such effects by using renewable energy. By considering the Realized Volatility of oil prices, rather …, and variance decompositions show that oil price volatility has more-adverse effects in all sample countries than oil price …

Between 1999 and 2008, world oil prices more than quadrupled in real terms. For oil importers, vulnerability to oil … domestic product. Oil intensity fell in more than half the countries in every income group and in every region of the world … pass-through to consumers of increases in world prices of gasoline, diesel, kerosene, and liquefied petroleum gas between …