This paper analyzes common economic patterns across countries and economic sectors in Latin America, East Asia and Europe for the period 1970–94 by means of an error-components model that decomposes real value added growth in each country into common international effects, sector-specific...

This paper studies the relation between firm''s financing choices and financial globalization. Using an East Asian and Latin American firm-level panel for the 1980s and 1990s, we study how leverage ratios, debt maturity structure, and sources of financing change when economies are liberalized...

Argentina experienced a decline in the early years of the 2000s, from 2000 to 2002, in GDP and in most labour market indicators, followed by improvements in nearly all of them, tracing out a U-shaped pattern. The international crisis of 2008 impacted negatively only on the unemployment rate and...

Between 2000 and 2013, Colombia experienced rapid economic growth. The country suffered a slowdown at the beginning of the period and during the international crisis of 2008, but during both slowdowns, the growth rate never turned negative. Most labour market indicators improved and followed the...