This paper takes advantage of the fact that some stocks trade both in domestic and international markets to characterize the degree of international financial integration. The paper argues that the cross-market...
This paper analyzes the effects of capital controls and crises on international financial integration, using data on stocks from emerging economies that trade in domestic and international markets. The...
Whereas conventional wisdom argues that markets shut down during crises, with sellers struggling to find buyers, we find that markets continue to operate during financial turmoil, even in narrow and volatile...
Statistics show that the sale of goods on credit is widespread among firms even when they are capital constrained and thus face relatively high costs in providing trade credit. This study provides an explanation...
While institutional differences have been found to affect country growth patterns, much has remained unexplained, including how economic actors "overcome" institutional weaknesses and how internationalization...
The globalization of corporate finance also points to other challenges. As emerging-market corporations have expanded their international operations, they have increased their exposure to interest rate...
Global Development Finance is the World Bank's annual review of global financial conditions facing developing countries. The current volume provides analysis of key trends and prospects, including coverage...
The authors argue that the cross-market premium (the ratio between the domestic and the international market price of cross-listed stocks) provides a valuable measure of international financial integration...
This report is comprised of two volumes. Global Development Finance 2005 I: Analysis and Statistical Appendix addresses two key challenges in development finance: first, how to raise resources flowing...
This report is comprised of two volumes. Global Development Finance 2005 I: Analysis and Statistical Appendix addresses two key challenges in development finance: first, how to raise resources flowing...
This report is comprised of two volumes. Global Development Finance 2005 I: Analysis and Statistical Appendix addresses two key challenges in development finance: first, how to raise resources flowing...