Dutch disease is often referred as a situation in which large and sustained foreign currency inflows lead to a contraction of the tradable sector by giving rise to a real appreciation of the home currency. This paper documents that this syndrome has been witnessed by many emerging markets and...

The three main financial inflows to developing countries have largely increased during the last two decades, despite the large debate in the literature regarding their effects on economic growth which is not yet clear-cut. An emerging literature investigates the dependence of their effects on...

This paper analyzes the macroeconomic adjustment in commodity-exporting countries to commodity price shocks. First, I estimate a heterogenous panel SVAR using data from 22 commodity-exporting economies spanning the period 1980-2017. I find that commodity terms of trade shocks are an important...