This evaluation of blending as an EU aid delivery mechanism aims to: provide an overall and independent assessment of blending. identify key lessons and recommendations to improve and inform future choices on blending. The scope includes EuropeAid support through seven investment facilities over...

We identify the effect of financial integration on international business cycle synchronization, by utilizing a confidential database on banks’ bilateral exposure and employing a country-pair panel instrumental variables approach. Countries that become more integrated over time have less...

In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey – started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age,...

This paper uses survey data for 29,000 households from 29 transition economies to explore how the use of banking services is related to household characteristics, bank ownership structure and the development of the financial infrastructure. At the household level we find that the holding of a...

The recent financial crises in Asia, Russia and Latin America have focussed attention on the effectiveness of the world's 'financial architecture'. The freeing of capital movements and the globalisation of markets have boosted economic growth; but also increased instability and systemic risk....