This is a background paper to the 2014 World Development Report. Risk is inherent to the pursuit of opportunity. This … value chains. First, it examines the risk-sharing mechanisms that firms provide from the national and global perspectives …

Which cities have the highest risk of human and economic losses due to natural hazards? And how will urban exposure to … major hazards change over the coming decades? This paper develops a global urban disaster risk index that evaluates the … components of this risk measure are urban hazard characteristics, exposure, and vulnerability. For earthquakes, cyclones, floods …

Using data from Mexico, the authors study empirically the link between trade policy and individual income risk and the … on workers to estimate time-varying individual income risk parameters in different manufacturing sectors in Mexico … and income risk for workers of varying education levels. The authors' findings are as follows. The level of openness of an …

globalization for local market deepening, international risk diversification, financial contagion, and financial dollarization, and …Financial globalization, defined as global linkages through cross-border financial flows, has become increasingly … relevant for emerging markets as they integrate financially with the rest of the world. This paper argues that, because of the …

(the VIX, the U.S. real interest rate and real exchange rate, U.S. GDP growth, and world commodity prices) that explain … common factors exhibits a "globalization" stage up to 2007, during which they acquire growing importance, followed by a phase …

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 … internationally, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off …

This paper computes a new financial globalization index for a large sample of countries for 1992-2016. Unlike other … measures, the financial globalization index corrects for the heteroscedasticity of global volatility. This leads to a downward … adjustment of financial globalization trends for developed, emerging, and frontier markets. The paper also shows that financial …

. This is achieved using firm-level data from World Bank Enterprise Surveys covering more than 16,000 manufacturing firms in …