This paper studies the impact of international financial integration on corporate financing choices, at a country level. Examining publically quoted firms of 24 emerging economies over the 1995-2007 period, we find that greater bond market integration is associated with increased leverage and a...

The current crisis is leading many to re-think the role of finance and how it should be regulated. Yet many features of this crisis are decidedly not new. This paper reviews what was regarded as the conventional wisdom on financial regulation prior to the 2007 onset of the crisis, briefly...

We construct estimates of external assets and liabilities for over 140 countries over the period 1970-2004. We describe our estimation methods and present some key features of the data, both at the country and at the global level. We focus in particular on trends in net and gross external...