Following recent crises, cross-border capital flows have declined considerably, and many
advanced countries' banks are retrenching. At the same time, banks from emerging and …

In the years since the Great Recession, many observers have highlighted the slow pace of
productivity growth around the world. For the United States and Europe, we highlight that …

We study the relationship between credit expansions, macroeconomic fluctuations, and
financial crises using a novel database on the sectoral distribution of private credit for 117 …

We study the role of financial frictions for productivity. Using a rich cross-country firm-level
data, we exploit variation in preexisting exposure to the 2008 global financial crisis to study …

We investigate the impact of movements in the real exchange rate on economic growth
based on five-year average data for a panel of over 150 countries in the post Bretton Woods …

This contribution discusses the international aspect of financialization in developing and
emerging economies (DEEs). It argues that international financialization is more than just an …

Has the occurrence of “extreme capital flow movements”—episodes of sudden surges,
stops, flight and retrenchment—changed since the Global Financial Crisis (GFC)? And was …

House prices and exchange rates can potentially amplify the expansionary effect of capital
inflows. We first set up a model of collateralized borrowing in domestic and foreign currency …

During the past three decades, many countries have lifted restrictions on cross-border
financial transactions. We present a simple model that can account for the observed effects …

This study assesses the impact of exchange rate volatility on economic growth using a panel
of 194 countries for the period 1995–2019. We resort to dynamic panel data models …