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Financial Globalization in Emerging Countries : Diversification vs. Offshoring
Ceballos, Francisco; Didier, Tatiana; Schmukler, Sergio L. - 2012
transactions take place. The authors find that globalization via the diversification channel expanded throughout the world during …Financial globalization has gathered attention since the early 1990s because of its macro-financial implications and … growing importance. But financial globalization has taken shape via different forms over time. This paper examines two …
Persistent link: https://www.econbiz.de/10012554536
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The rise of domestic capital markets for corporate financing : Lessons from East Asia
Abraham, Facundo; Cortina, Juan J.; Schmukler, Sergio L. - In: Journal of banking & finance 122 (2021), pp. 1-21
Persistent link: https://www.econbiz.de/10012659270
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Global Transmission of Interest Rates : Monetary Independence and Currency Regime
Frankel, Jeffrey A.; Schmukler, Sergio L.; Servén, Luis - 2021
Using a large sample of developing and industrialized economies during 1970-1999, this paper explores whether the choice of exchange rate regime affects the sensitivity of local interest rates to international interest rates. In most cases, we cannot reject full transmission of international...
Persistent link: https://www.econbiz.de/10013216098
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Bank Involvement with SMEs : Beyond Relationship Lending
de la Torre, Augusto; Martinez Peria, Maria Soledad; … - 2010
The "conventional wisdom" in academic and policy circles argues that, while large and foreign banks are generally not interested in serving SMEs, small and niche banks have an advantage because they can overcome SME opaqueness through relationship lending. This paper shows that there is a gap...
Persistent link: https://www.econbiz.de/10012562465
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Financing firms in hibernation during the COVID-19 pandemic
Didier, Tatiana; Huneeus, Federico; Larraín, Mauricio; … - In: Journal of financial stability 53 (2021), pp. 1-14
Persistent link: https://www.econbiz.de/10012793113
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Explaining the Migration of Stocks from Exchanges in Emerging Economies to International Centers
Claessens, Stijn; Klingebiel, Daniela; Schmukler, Sergio L. - 2013
The authors study the determinants of the growing migration of stock market activity to international financial centers. They use a sample of 77 countries and document that higher economic growth and more macroeconomic stability help stock market development. Countries with higher income per...
Persistent link: https://www.econbiz.de/10012559577
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Financial Development in Asia : Beyond Aggregate Indicators
Didier, Tatiana; Schmukler, Sergio L. - 2014
This paper documents the major trends in financial development in Asia since the early 1990s and the spillovers to firms. It compares Asia with advanced and emerging countries and uses both aggregate and disaggregate indicators. Financial systems in Asia remain less developed than in advanced...
Persistent link: https://www.econbiz.de/10012560866
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Financial Development
de la Torre, Augusto; Gozzi, Juan Carlos; Schmukler, … - 2007
In recent decades, financial development policies in emerging market economies have been shaped by a fundamental shift toward market-based financial systems and the lessons from Financial crises. Today, there is consensus that financial development depends on financial stability and convergence...
Persistent link: https://www.econbiz.de/10012561462
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Financial globalization in emerging countries : diversification vs. offshoring
Ceballos, Francisco; Didier, Tatiana; Schmukler, Sergio L. - 2012
Financial globalization has gathered attention since the early 1990s because of its macro-financial and crisis … implications and its perceived large expansion. But financial globalization has taken different forms over time. This paper … examines two important concurrent dimensions of financial globalization relevant for emerging countries: diversification and …
Persistent link: https://www.econbiz.de/10009632681
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Global Transmission of Interest Rates : Monetary Independence and Currency Regime
Frankel, Jeffrey A. - 2002
Using a large sample of developing and industrialized economies during 1970-1999, this paper explores whether the choice of exchange rate regime affects the sensitivity of local interest rates to international interest rates. In most cases, we cannot reject full transmission of international...
Persistent link: https://www.econbiz.de/10012469887