In this paper we explore empirically a long-standing question in the literature on finance for growth. namely whether the financial structure -in terms of the size of the banking system relative to the capital markets- matters for economic growth. We build upon the existing literature by...

In this paper we explore empirically a long-standing question in the literature on finance for growth, namely whether the financial structure ?in terms of the size of the banking system relative to the capital markets? matters for economic growth. We build upon the existing literature by...

We analyze empirically whether the emergence of China as a large recipient of FDI has affected the amount of FDI received by Latin American countries.

In light of the experience of the global financial crisis, this book develops concrete recommendations for financial sector reform and regulation in Asian economies aimed at preventing the recurrence of systemic financial crises, improving the ability to manage and resolve crises, managing...

This paper investigates the trend and characteristics of trade in services in two fertile regions where different forms of trade integration have taken place: East Asia and Latin America. To that end, the World Bank data are utilized to categorize services trade in order to put on view the...

During the last decade, China s growing economic importance has been considered a blessing for South America, given their still relatively high dependence on the US and commodity exports. However, this positive sentiment is starting to change. Concerns are being raised about potential adverse...

This paper studies international diversification in banking, exploiting a bank-level dataset that covers the operations of 38 global banks and their subsidiaries overseas during 1995–2004. The paper finds that banks with a larger share of assets allocated to subsidiaries in emerging market...

The Chinese banking system, characterized by massive government intervention, poor asset quality and low capitalization, has started a reform process based on the three main pillars: (i) bank restructuring, through the cleaning-up of non-performing loans (NPLs) and public capital injections,...

This paper analyzes empirically what explains the low profitability of Chinese banks for the period 1997-2004. We find that better capitalized banks tend to be more profitable. The same is true for banks with a relatively larger share of deposits and for more X-efficient banks. In addition, a...

This paper investigates, using cointegration and Granger-causality techniques, whether a stable long-run co-movement exists between world commodity prices and U.K. retail prices, and whether short-run changes in commodity prices convey information about future movements in U.K. retail prices....