The COVID-19 pandemic has challenged global economies with unparalleled negative shock. Asia and Latin America have gone through a number of financial crises in the last few decades but they have addressed those crises rather differently, leading to different growth trajectories after the...

Debt overhang may impede a country's investment and growth. Accordingly, the World Bank initiated debt relief programs. However, doubts have been raised regarding the empirical validity of the debt overhang hypothesis. We employ panel data for testing the existence of debt overhang for Latin...

Currency crises that have been observed in recent years are not a new phenomenon, but the main features of the crises in Latin America in the 1970s and early 1980s are quite different from the crisis in Europe in 1992. Theoretical literature has evolved over time to account for the changing...