This paper looks at the correlation between the cyclical components of gross domestic product and the exchange rate and classifies countries’ currencies as pro-cyclical if they appreciate in good times...
The author studies the extent to which firms from China and India use capital markets to obtain financing and grow. Using a unique data set on domestic and international capital raising activity and firm...
Is generalized debt relief an effective development strategy, or should assistance be tailored to countries characteristics? To answer this question, the authors build a simple model in which recipient...
During the crises of the 1990s, emerging economies usually lacked the policy tools to deal with external shocks that were available to advanced economies. Worldwide turbulent episodes found most emerging...