The global financial crisis provides an important testing ground for the financial globalisation
model. We ask three questions. First, did financial globalisation materially contribute to the …

Populism at the country level is at an all-time high, with more than 25 percent of nations
currently governed by populists. How do economies perform under populist leaders? We …

The web of global economic connections is growing deeper, broader, and more intricate. Yet
much of the public discussion surrounding globalization is stuck on the narrow topic of trade …

The literature on the benefits and costs of financial globalization for developing countries
has exploded in recent years, but along many disparate channels with a variety of …

This paper proposes a methodology for measuring credit booms and uses it to identify credit
booms in emerging and industrial economies over the past four decades. In addition, we use …

We provide new empirical evidence on the relationship between inward foreign direct
investment (FDI) and total factor productivity (TFP) growth using cross-country data for 51 …

The US dollar's dominance seems under threat. The near collapse of the US financial
system in 2008–2009, political paralysis that has blocked effective policymaking, and …

We examine whether the cross-country incidence and severity of the 2008–09 global
recession is systematically related to precrisis macroeconomic and financial factors. We find …

This paper examines the effect of sectoral foreign aid and institutional quality on the
economic growth of 74 developing countries from Africa, Asia and South America, and …

What are the stylized facts that characterize the dynamics of credit booms and the
associated fluctuations in macro-economic aggregates? This paper answers this question …