Financial crises happen when: (i) nobody really understands what is going on (the collective cognition paradigm); (ii) some understand better and take advantage (the asymmetric information paradigm); (iii) everybody understands but crises are a natural part of the financial landscape (the market...

When the source of external capital for Continental European firms is examined, debt markets have historically supplied a much larger percentage of the external capital than equity markets, and firms rely much more on bank debt than bonds for their external funds. In this environment banks have...

Infrastructure investment is a central part of the stimulus plans of the Latin American and the Caribbean (LAC) region as it confronts the growing financial crisis. This article estimates the potential effects on direct, indirect and induced employment for different types of infrastructure...