Nearly 200 million children are engaged in child labor, many in developing countries that are part of the supply base of global manufacturing networks. This paper models a multinational firm in a developed country selling the product made by a supplier in a developing country. The firm can...

This paper uses a new approach to measuring financial openness, highlighting interconnectedness in a network of financial flows. Applying an adapted version of eigenvector centrality, often used in network analysis, the new measure captures multidimensional and high-degree financial relations...

This paper studies the recent (2007-2009) Global Financial Crisis and its transmission through bank lending to emerging Asian economies. It highlights two channels of shock transmission identified in the literature: bank ownership and liquidity. We find that the bank ownership does not play a...

While deeper financial integration is often considered conducive to the efficient allocation of resources and risk sharing, an increasingly important policy concern is whether it brings greater vulnerability to shocks. To address the latter concern, this paper uses a different approach to...

Does unconventional monetary policy have a distributional effect on household credit? To answer this question, I use granular data in 17 Eurozone countries from the ECB Household Finance and Consumption Survey (HFCS) and look at the household credit in the ”pre-APP (ECB’s Asset Purchase...

Using a novel dataset with bank-sector level annual loan data from 137 commercial banks in China from 2004 to 2017, along with a quantified industrial policy dataset based on text analyses, I explore how influential industrial policy is in the credit market. Overall, commercial banks do not...

This paper developed a novel model focused on the impact that the land competition poses on the land supply of local governments in Nash equilibrium. The author discovered that: (1) Core-periphery configuration also exists under the fixed land input setting. (2) If trade cost is high, enlarging...

This paper uses a new approach to measuring financial openness, highlighting interconnectedness in a network of financial flows. Applying an adapted version of eigenvector centrality, often used in network analysis, the new measure captures multidimensional and high-degree financial relations...

This paper assesses the spillover effects of the United States' unconventional monetary policy (i.e., quantitative easing programs adopted during 2008-2014) on the Asian credit market. With a focus on cross-border bank lending, we employed firm-level loan data with regard to the syndicated loan...