This paper uses new statistical techniques and two new databases to reassess the relationship between economic growth and FDI. After resolving biases plaguing past work, we find that the exogenous component of FDI does not exert a robust, independent influence on growth

We evaluate the connection between corporate characteristics and the reaction of stock returns to COVID-19 cases using data on over 6,700 firms across 61 economies. The pandemic-induced drop in stock returns was milder among firms with (a) stronger pre-2020 finances (more cash and undrawn...

Do stock markets act as a spare tire during banking crises, providing an alternative corporate financing channel and mitigating the economic severity of these crises? Using firm-level data in 36 countries from 1990 through 2011, we find that the adverse consequences of banking crises on equity...

Using data on over 6,000 firms across 56 economies during the first quarter of 2020, we evaluate the connection between corporate characteristics and stock price reactions to COVID-19 cases. We find that the pandemic-induced drop in stock prices was milder among firms with (a) stronger pre-2020...