Global financial institutions play an important role in channeling funds across countries and, therefore, transmitting monetary policy from one country to another. In this paper, we study whether such international transmission depends on financial institutions' business models. In particular,...

This study gives an overview of recent innovations in the financing of small and medium-sized enterprises (SMEs) in Asia. While SMEs are an important contributor to employment and gross domestic product in Asia, they often face significant credit constraints. Recently, in the context of Asia's...

Credit markets around the world are undergoing a deep transformation. Fintech and big tech firms are providing more lending to households and small businesses. A new database estimates that fintech credit flows reached USD 223 billion in 2019, while big tech credit reached USD 572 billion. What...