We study the effect of financial integration (through banks) on the transmission of
international business cycles. In a sample of 18/20 developed countries between 1978 and …

We analyze the impact of financial globalization on business cycle synchronization using a
proprietary database on banks' international exposure for industrialized countries during …

No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great
indignation every Asian economy pointed fingers. They were innocent bystanders. The …

We argue that one reason why emerging economies borrow short term is that it is cheaper
than borrowing long term. This is especially the case during crises, as during these episodes …

This paper models volatility spillovers from mature to emerging stock markets, tests for
changes in the transmission mechanism during turbulences in mature markets, and …

This paper develops an endogenous default risk model for small open economies that
interact with risk averse international investors whose preferences exhibit decreasing …

We explain financial contagion between two stock markets with uncorrelated fundamentals
using fluctuations in international investors' attention allocation. We also show that the …

This paper studies the determinants of cross‐border bank lending on a panel dataset
comprising 17 advanced and 28 emerging market economies from 1993 to 2008. The …

Although many papers have already proposed empirical models of currency crises, the
timing of such crises has received relatively little attention so far. Most papers use indeed a …

We use novel spatial econometrics techniques to explore spillovers in the sovereign bond
market for 24 emerging economies during 1995–2010. The article extends the previous …