Als griechischer Finanzminister löste Varoufakis eine der spektakulärsten und kontroversesten Auseinandersetzungen der jüngsten politischen Geschichte aus, als er versuchte, die Beziehung seines Landes mit der EU neu zu verhandeln. Trotz der massenhaften Unterstützung seitens der...

This paper tries to quantify the financing needs in the Belt and Road countries and industries by using firm-level data from 2009 to 2014. By examining financial constraints of firms in the Belt and Road countries, this study constructs a Financing Needs Index for Belt and Road countries and...

The study assesses the factors underlying commodity price volatility, its impact on households welfare, and the implications for macroeconomic and fiscal policy. It finds that: (i) low-income countries are highly vulnerable to fluctuations in commodity prices; (ii) financial speculation has...

At a summit meeting in December 2011, China and Japan agreed to improve cooperation on developing their financial markets. The agreement covers the settlement of cross-border trade and investment using the two currencies, the direct exchange of the two currencies, the purchase of Chinese...

As the largest-ever infrastructure project, China’s Belt and Road Initiative (BRI) is expected to reshape the global economy for the coming decades. This paper provides the first analysis of BRI's effects on financial markets and real economic activity in Europe. It exploits the opening of a...