This paper analyzes the demand for jewelry, bars & coins, and gold ETFs across high-income and middle-income countries. We employ a simultaneous equations model that allows a joint determination of the various categories of gold demand and find significant differences across gold demand...

Institutional factors that enhance the quality of financial reporting and sharing of credit information can alleviate informational gaps between contracting parties and improve loan contract terms. Using cross-country data on syndicated loans, we find that the cost of debt financing is lower for...

We empirically examine how the rating-contingent Basel regulations impact the access and cost of debt for firms with varying characteristics around the world, and investigate how firms cope with the impact through alternative financing sources and adjustments to its capital investments. We find...

The financial crisis has highlighted the need for forecasts of remittance flows in many developing countries where these flows have proved to be a lifeline to the poor people and the economy. This note describes a simple methodology for forecasting country-level remittance flows in a manner...