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Ugo Gianluigi Panizza

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2009. "The Economics and Law of Sovereign Debt and Default," Journal of Economic Literature, American Economic Association, vol. 47(3), pages 651-698, September.

    Mentioned in:

    1. Sovereign Debt Defaults
      by Agent Continuum in Agent Continuum on 2010-05-09 10:13:30
    2. Notas sueltas sobre el rescate de España
      by Cives in Politikon on 2012-06-10 01:43:49
  2. Eduardo Borensztein & Ugo Panizza, 2009. "The Costs of Sovereign Default," IMF Staff Papers, Palgrave Macmillan, vol. 56(4), pages 683-741, November.

    Mentioned in:

    1. Il 5 per mille spiegato a mi' nonna
      by Alberto Bagnai in Goofynomics on 2015-05-13 14:51:00
    2. Quels sont les coûts d’un défaut souverain ?
      by ? in D'un champ l'autre on 2014-08-02 18:35:00
  3. Ugo Panizza & Eduardo Levy Yeyati, 2006. "The Elusive Costs of Sovereign Defaults," Research Department Publications 4485, Inter-American Development Bank, Research Department.

    Mentioned in:

    1. Boden 15 vs. Boden griego
      by ELY in Blog de Eduardo Levy Yeyati on 2010-04-28 03:43:00
    2. ¿Cuánto le cuesta el default a Argentina?
      by ELY in Blog de Eduardo Levy Yeyati on 2011-12-06 20:28:00
  4. Ugo Panizza & Andrea Filippo Presbitero, 2013. "Public Debt and Economic Growth in Advanced Economies: A Survey," Mo.Fi.R. Working Papers 78, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

    Mentioned in:

    1. A new paper on the causality of debt and growth
      by Tyler Cowen in Marginal Revolution on 2013-04-19 23:02:49
    2. Crecimiento económico y deuda pública
      by ? in Tiempo Económico on 2013-04-22 01:23:21
    3. Public debt and economic growth, one more time
      by ? in VoxEU.org on 2013-04-25 06:00:00
    4. Debt and growth: No ‘tipping point’
      by ? in VoxEU.org on 2013-11-17 06:00:00
  5. Micco, Alejandro & Panizza, Ugo & Yanez, Monica, 2007. "Bank ownership and performance. Does politics matter?," Journal of Banking & Finance, Elsevier, vol. 31(1), pages 219-241, January.

    Mentioned in:

    1. El crédito oficial durante las crisis
      by admin in Nada Es Gratis on 2018-10-25 05:01:43
  6. Mitu Gulati & Ugo Panizza, 2018. "Maduro Bonds," IHEID Working Papers 12-2018, Economics Section, The Graduate Institute of International Studies.

    Mentioned in:

    1. Should Creditors Pay the Price for Dubious Bonds?
      by Mitu Gulati in Project Syndicate on 2019-10-09 11:01:28
  7. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2003. "Currency Mismatches, Debt Intolerance and Original Sin: Why They Are Not the Same and Why it Matters," NBER Working Papers 10036, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. La deuda en los tiempos de K
      by Lindahl in Finanzas Públicas on 2008-08-18 07:30:00
  8. Ugo Panizza & Andrea Filippo Presbitero, 2012. "Public Debt and Economic Growth: Is There a Causal Effect?," Mo.Fi.R. Working Papers 65, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

    Mentioned in:

    1. Korrelation zwischen Verschuldung und Wirtschaftswachstum
      by Acemaxx-Analytics in Acemaxx-Analytics on 2012-04-23 18:09:00
    2. Too much finance! Panizza sul FQ
      by Alberto Bagnai in Goofynomics on 2012-07-05 22:58:00
    3. Scene dalla vita di provincia: prefazione
      by Alberto Bagnai in Goofynomics on 2013-06-27 13:04:00
    4. OSSERVATORIO "PUDE" 2. CRONACHE DI UN CETRIOLO ANNUNCIATO-2
      by Quarantotto in Orizzonte48 on 2013-02-25 17:37:00
    5. OSSERVATORIO PUDE 5. CRONACHE DI UN CETRIOLO ANNUNCIATO.
      by Quarantotto in Orizzonte48 on 2013-03-06 17:00:00
    6. UN "ESTREMO" APPELLO A VALERIO ONIDA E GUSTAVO ZAGRELBESKY
      by Quarantotto in Orizzonte48 on 2013-03-25 17:21:00
    7. Большой госдолг не обязательно приводит l
      by ? in slon on 2012-04-24 02:01:00
    8. Il n’y a pas de seuil magique dans la relation entre croissance et endettement
      by ? in D'un champ l'autre on 2014-02-15 20:08:00
    9. Public debt and economic growth, one more time
      by ? in VoxEU.org on 2013-04-25 06:00:00
  9. Barry Eichengreen & Ugo Panizza, 2014. "A Surplus of Ambition: Can Europe Rely on Large Primary Surpluses to Solve its Debt Problem?," NBER Working Papers 20316, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Anatomie de la tragédie italienne
      by ? in D'un champ l'autre on 2014-08-29 00:00:00
  10. Author Profile
    1. Scene dalla vita di provincia: prefazione
      by Alberto Bagnai in Goofynomics on 2013-06-27 13:04:00
    2. Does purchasing power parity (PPP) hold in the long run? : A look at the franc/dollar exchange rate on the Swiss national holiday
      by ? in FRED blog on 2022-08-01 13:00:00

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Ugo Panizza & Andrea Filippo Presbitero, 2012. "Public Debt and Economic Growth: Is There a Causal Effect?," Mo.Fi.R. Working Papers 65, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

    Mentioned in:

    1. Grande recessione in Wikipedia (Italian)

Working papers

  1. Arcand, Jean-Louis & Berkes, Enrico & Panizza, Ugo, 2026. "Too Much Finance Redux," CEPR Discussion Papers 21237, Centre for Economic Policy Research.

    Cited by:

    1. Finocchiaro, Daria & Weil, Philippe, 2026. "A traffic-jam theory of growth," Journal of Monetary Economics, Elsevier, vol. 159(C).

  2. Bénétrix, Agustín & Pallan, Hayley & Panizza, Ugo, 2026. "The Elusive Link Between FDI and Economic Growth: Sectoral Heterogeneity and Global Value Chains," CEPR Discussion Papers 21021, Centre for Economic Policy Research.

    Cited by:

    1. Jiongyi Hao, 2026. "The Conditional Role of Education in the FDI‐GVC Nexus: Evidence from a Global Bilateral Perspective," Trinity Economics Papers tep2126, Trinity College Dublin, Department of Economics.

  3. Mark S Manger & David Mihalyi & Ugo Panizza & Niccolò Rescia & Christoph Trebesch & Ka Lok Wong, 2025. "Africa's Domestic Debt Boom: Evidence from the African Debt Database," AMSE Working Papers 2516, Aix-Marseille School of Economics, France.

    Cited by:

    1. Michael Chui & Leonardo Gambacorta, 2026. "Africa's public debt amid global headwinds: balancing resilience and vulnerabilities," BIS Bulletins 132, Bank for International Settlements.

  4. Chahine, Salim & Panizza, Ugo & Suedekum, Guilherme, 2024. "IMF Programs and Borrowing Costs: Does Size Matter?," CEPR Discussion Papers 19015, Centre for Economic Policy Research.

    Cited by:

    1. Diwan, Ishac & Harnoys-Vannier, Brendan, 2025. "Why is the Cost of Borrowing for Developing Countries so high?," FDL Policy Notes 2514, CEPREMAP.

  5. Adarov, Amat & Panizza, Ugo, 2024. "Public Investment Quality and its Implications for Sovereign Risk and Debt Sustainability," CEPR Discussion Papers 19252, Centre for Economic Policy Research.

    Cited by:

    1. Amat Adarov & Clements,Benedict & Jalles,João Tovar, 2024. "Revisiting Public Investment Multipliers : Nonlinear Effects of the Business Cycle, Fiscal Space, Efficiency, and Capital Stock," Policy Research Working Paper Series 10954, The World Bank.
    2. World Bank, 2025. "Global Economic Prospects, January 2025," World Bank Publications - Books, The World Bank Group, number 42452.
    3. Joseph Mawejje, 2024. "Fiscal Vulnerabilities in Low-Income Countries: Evolution, Drivers, and Policies," World Bank Publications - Books, The World Bank Group, number 42239.
    4. Adarov, Amat & Panizza, Ugo, 2026. "Public investment quality and sovereign risk," Journal of International Money and Finance, Elsevier, vol. 161(C).

  6. Panizza, Ugo, 2023. "Bank Ownership Around the World," CEPR Discussion Papers 18106, Centre for Economic Policy Research.

    Cited by:

    1. Khan, Habib Hussain & Qureshi, Fiza & Jamali, Dima, 2025. "Digital disruption in financing: Are fintech and bigtech credit reshaping corporate access to capital?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 103(C).
    2. Aizenman, Joshua & Eldén, William & Jinjarak, Yothin & Uddin, Gazi Salah & Widholm, Frida, 2026. "Spillovers of U.S. fiscal challenges: The global impact of U.S. fiscal dominance concerns on interest rates in emerging and developed markets," Economic Modelling, Elsevier, vol. 154(C).
    3. Saibal Ghosh, 2026. "Real estate regulation and market perceptions of bank returns: evidence from a quasi-natural experiment in India," Journal of Regulatory Economics, Springer, vol. 69(1), pages 1-38, December.
    4. Boubakri, Narjess & Cotelioglu, Efe & Samet, Anis, 2026. "Bank government ownership and reaction to SVB collapse: Evidence from emerging markets," The Quarterly Review of Economics and Finance, Elsevier, vol. 105(C).
    5. de Leeuw, Tim & Wacker, Konstantin M., 2026. "How does FDI transmit into domestic investment? Exploring intra-industry and financial channels," Journal of Comparative Economics, Elsevier, vol. 54(2), pages 554-577.
    6. Beck,Thorsten & Cull,Robert J. & Mare,Davide Salvatore & Valenzuela,Patricio, 2023. "Banking in Africa : Opportunities and Challenges in Volatile Times," Policy Research Working Paper Series 10632, The World Bank.
    7. Gomez-Gonzalez, Jose E. & Uribe, Jorge M. & Valencia, Oscar M. & Kim, Bum, 2025. "Doom loops in Latin America," Emerging Markets Review, Elsevier, vol. 68(C).
    8. Ricardo Correa & Andrea Fabiani & Matias Ossandon Busch & Miguel Sarmiento, 2025. "The ripple effect: supply chain reconfigurations and cross-border credit dynamics," BIS Working Papers 1315, Bank for International Settlements.
    9. Olszak, Małgorzata & Godlewski, Christophe J. & Roszkowska, Sylwia & Skała, Dorota, 2025. "Loan loss provisions of European banks – Does macroprudential tightening matter?," Research in International Business and Finance, Elsevier, vol. 73(PB).
    10. Fisera,Boris & Martin Melecky & Dorothe Singer, 2024. "Financial Deepening and Carbon Emissions Intensity : Evidence from a Global Sample of Countries," Policy Research Working Paper Series 10948, The World Bank.
    11. Fraccaroli, Nicolò & Sowerbutts, Rhiannon & Whitworth, Andrew, 2025. "Does regulatory and supervisory independence affect financial stability?," Journal of Banking & Finance, Elsevier, vol. 170(C).
    12. Berger, Allen N. & Karlström, Peter & Karolyi, Stephen A. & Ossandon Busch, Matias & Pinzon-Puerto, Freddy & Roman, Raluca A., 2026. "Global banking with a Latin American rhythm," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 7(1).
    13. Fu, Weigang & Liu, Fangrui & Liu, Yan, 2024. "Network-based state ownership and corporate resilience: Evidence from China," Finance Research Letters, Elsevier, vol. 69(PB).
    14. Zou, Yang & Xu, Jiajun & Panizza, Ugo, 2026. "Comparing financial returns: National development banks vs commercial banks," Pacific-Basin Finance Journal, Elsevier, vol. 98(C).
    15. Saibal Ghosh, 2026. "Did Deposit Insurance Reforms Improve Liquidity Creation? Evidence from Indian Banking," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 24(1), pages 83-102, March.

  7. Martina Hengge & Ugo Panizza & Mr. Richard Varghese, 2023. "Carbon Policy and Stock Returns: Signals from Financial Markets," IMF Working Papers 2023/013, International Monetary Fund.

    Cited by:

    1. Weth, Mark A. & Baltzer, Markus & Bertram, Christoph & Hilaire, Jérôme & Johnston, Craig, 2024. "The scenario-based equity price impact induced by greenhouse gas emissions," Discussion Papers 30/2024, Deutsche Bundesbank.
    2. Matzner, Anna & Steininger, Lea, 2024. "Firms’ heterogeneous (and unintended) investment response to carbon price increases," Working Paper Series 2958, European Central Bank.
    3. Cavallo, Eduardo A. & Cepeda, Ana & Panizza, Ugo, 2024. "Environmental Damage News and Stock Returns: Evidence from Latin America," IDB Publications (Working Papers) 13537, Inter-American Development Bank.
    4. Evdokimova, Tatiana & Millischer, Laurent, 2025. "Transition risk beyond carbon intensity," Energy Economics, Elsevier, vol. 151(C).
    5. Le, Anh H., 2023. "Climate change and carbon policy: A story of optimal green macroprudential and capital flow management," IMFS Working Paper Series 191, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    6. Albert, Juan-Francisco & Gómez-Fernández, Nerea & Boto-García, David, 2025. "Up in the air: How do carbon policy shocks affect air travel?," Transport Policy, Elsevier, vol. 168(C), pages 54-68.
    7. Chiappari, Mattia & Scotti, Francesco & Flori, Andrea, 2025. "Hedging financial risks with a climate index based on EU ETS firms," Energy, Elsevier, vol. 320(C).
    8. Dai, Jiapeng & Phan Ah Kiaw, Jasmine & Yap Tat Hiung, Eddy, 2025. "Is some uncertainty better than none? Nonlinear relationships between climate policy uncertainty and corporate green performance," International Review of Economics & Finance, Elsevier, vol. 102(C).

  8. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2022. "Yet it Endures: The Persistence of Original Sin," CID Working Papers 420, Center for International Development at Harvard University.

    Cited by:

    1. Alexey Mikhaylov & Muhammad Ishaq M. Bhatti, 2025. "The link between DFA portfolio performance, AI financial management, GDP, government bonds growth and DFA trade volumes," Quality & Quantity: International Journal of Methodology, Springer, vol. 59(1), pages 339-356, February.
    2. Candauda Arachchige Saliya, 2023. "Impact of debt, reserves, and political stability on Sri Lanka’s financial crisis," PLOS ONE, Public Library of Science, vol. 18(11), pages 1-20, November.
    3. Deng, Ronghao & Xie, Hanbing, 2026. "The impact of BRICS de-dollarization on exchange rate fluctuations," International Review of Economics & Finance, Elsevier, vol. 108(C).
    4. Kruger, Wikus & Cassimon, Danny, 2025. "The currency risk challenge in African power finance: structures, politics, and emerging responses," IOB Working Papers 2025.12, Universiteit Antwerpen, Institute of Development Policy (IOB).
    5. Mark S. Manger & David Mihalyi & Ugo Panizza & Niccolò Rescia & Christoph Trebesch & Ka Lok Wong, 2025. "Africa's Domestic Debt Boom: Evidence from the African Debt Database," IHEID Working Papers 15-2025, Economics Section, The Graduate Institute of International Studies.
    6. Emilio Ocampo & Nicolás Cachanosky, 2025. "Monetary dynamics under dollarization: explaining Ecuador’s puzzle," CEMA Working Papers: Serie Documentos de Trabajo. 898, Universidad del CEMA.
    7. Bidisha Lahiri & William A. Darity, 2024. "Global North–South Reparations: Demand‐side and Supply‐side Policies with a Dynamic View of International Trade and Finance," Development and Change, International Institute of Social Studies, vol. 55(4), pages 672-699, July.
    8. Apeti, Ablam Estel & Bambe, Bao-We-Wal & Combes, Jean-Louis & Edoh, Eyah Denise, 2024. "Original sin: Fiscal rules and government debt in foreign currency in developing countries," Journal of Macroeconomics, Elsevier, vol. 80(C).
    9. Rohit Goel & Swapnanil SenGupta & Udaibir Saran Das, 2025. "Corporate Foreign Exchange Risk in India: Firm-level Evidence and Some Policy Implications," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 19(2), pages 131-186, November.
    10. Pawel Kowalewski, 2024. "Monetary processes in the world economy following the end of the Bretton Woods System," Bank i Kredyt, Narodowy Bank Polski, vol. 55(6), pages 697-730.
    11. Mateane, Lebogang, 2023. "Risk preferences, global market conditions and foreign debt: Is there any role for the currency composition of FX reserves?," Research in Economics, Elsevier, vol. 77(3), pages 402-418.
    12. Isaac Abotebuno Akolgo, 2023. "Ghana's Debt Crisis and the Political Economy of Financial Dependence in Africa: History Repeating Itself?," Development and Change, International Institute of Social Studies, vol. 54(5), pages 1264-1295, September.
    13. Ablam Estel Apeti & Samuel Obeng & Abrams M.E. Tagem & Maureen Were, 2025. "Sovereign default and public debt: What role for fiscal rules?," WIDER Working Paper Series wp-2025-70, World Institute for Development Economic Research (UNU-WIDER).
    14. Oscar Botero-Ramírez, 2026. "The Role of Investor Composition in Sovereign Bond Pricing: Evidence from an Emerging Market," IHEID Working Papers 02-2026, Economics Section, The Graduate Institute of International Studies.
    15. Venkatesh, Hari & Hiremath, Gourishankar S., 2025. "Currency exposure and economic growth: Friend or foe?," International Economics, Elsevier, vol. 183(C).
    16. Carol Bertaut & Valentina Bruno & Hyun Song Shin, 2023. "Original sin redux: role of duration risk," BIS Working Papers 1109, Bank for International Settlements.
    17. Leek, Lauren Caroline & Bischl, Simeon, 2024. "How Central Bank Independence Shapes Monetary Policy Communication: A Large Language Model Application," SocArXiv yrhka, Center for Open Science.
    18. Han, Bada & Oh, Taehee & Lee, Jangyoun, 2026. "In search of the origin of original sin dissipation," Journal of International Money and Finance, Elsevier, vol. 162(C).
    19. Tucci, Candelaria Fernández, 2025. "The Post-Keynesian Model of the firm in an open economy: Financialisation and firms' target profit rates in developing and emerging economies," IPE Working Papers 261/2025, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    20. Leek, Lauren & Bischl, Simeon, 2025. "How central bank independence shapes monetary policy communication: A Large Language Model application," European Journal of Political Economy, Elsevier, vol. 87(C).
    21. Dadan Rahadian & Anisah Firli & Hasan Dinçer & Serhat Yüksel & Alexey Mikhaylov & Fatih Ecer, 2024. "A hybrid neuro fuzzy decision-making approach to the participants of derivatives market for fintech investors in emerging economies," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-18, December.
    22. Hasan Dinçer & Serhat Yüksel & Alexey Mikhaylov & Vera Ivanyuk, 2025. "An integrated analysis for digital financial assets and artificial intelligence-based financial management using AI-based neuro quantum picture fuzzy rough sets and econometric modeling," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-24, December.
    23. Fernando Garcia & Ricardo Hausmann, 2026. "A Change of Denomination: The Case for CPI-Indexed World Bank Lending," Growth Lab Working Papers 271, Harvard's Growth Lab.
    24. Tracy Chan & Goetz von Peter & Philip Wooldridge, 2025. "International finance through the lens of BIS statistics: bond markets, domestic and international," BIS Quarterly Review, Bank for International Settlements, September.
    25. Central Bank of Colombia, 2026. "Global risk transmission to local financial conditions and the participation of foreign investors in emerging market economies' sovereign bond markets: the case of Colombia," BIS Papers chapters, in: Bank for International Settlements (ed.), Capital flows, exchange rates and financial conditions in EMEs in an evolving international monetary system, volume 127, pages 115-130, Bank for International Settlements.
    26. Mert Onen & Hyun Song Shin & Goetz von Peter, 2023. "Overcoming original sin: insights from a new dataset," BIS Working Papers 1075, Bank for International Settlements.
    27. Agustín Bénétrix & Beren Demirölmez & Martin Schmitz, 2024. "The Shock Absorbing Role of Cross-border Investments: Net Positions Versus Currency Composition," Open Economies Review, Springer, vol. 35(2), pages 363-394, April.
    28. Gonon, Morgane & Godin, Antoine & Daumas, Louis & Althouse, Jeffrey & Svartzman, Romain, 2026. "Chronicle of a debt foretold: Green debt strategies in a fossil fuel-dependent economy," International Review of Economics & Finance, Elsevier, vol. 109(C).
    29. Cavallo, Eduardo A. & Gómez, Santiago & Noy, Ilan & Strobl, Eric, 2024. "Climate Change, Hurricanes, and Sovereign Debt in the Caribbean Basin," IDB Publications (Working Papers) 13351, Inter-American Development Bank.
    30. Maeng, F. S., 2024. "Default, Inflation Expectations, and the Currency Denomination of Sovereign Bonds," Cambridge Working Papers in Economics 2438, Faculty of Economics, University of Cambridge.
    31. Woo-Mora, L. Guillermo, 2025. "Populism’s original sin: Short-term populist penalties and uncertainty traps," European Economic Review, Elsevier, vol. 172(C).
    32. Darsono, Susilo Nur Aji Cokro & Bi, Chuanchen & Mutiara, Intan & Kurniawan, Mahrus Lutfi Adi & Pho, Thanh Van & Nguyen, Tran Thai Ha, 2025. "Drivers of China Green Bonds: An ARDL Analysis of Economic Policy Uncertainty, Financial Market Volatility, Exchange Rates, and Commodity Prices," International Journal of Energy Economics and Policy, International Journal of Energy Economics and Policy, vol. 15(4), pages 178-188, June.
    33. Barry Eichengreen & Poonam Gupta, 2023. "Priorities for the G20 Finance Track," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 17(1-2), pages 7-58, February.
    34. Fernández Tucci, Candelaria, 2023. "Original sin and South-South cooperation: Insights for the Mercosur from the experience of the Asian Bond Market Initiative," IPE Working Papers 214/2023, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    35. Gonul Colak & Theogene Habimana & Timo Korkeamäki, 2025. "The effects of government debt on corporate borrowing in developing economies: evidence from Africa," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 56(7), pages 874-900, September.
    36. Dünhaupt, Petra & Herr, Hansjörg & Martin, Anne & Teipen, Christina, 2026. "Explaining uneven development trajectories in contemporary capitalism: Towards an interconnected framework of comparative political economy," IPE Working Papers 279/2026, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    37. Yuen C. Lo & Ulrich Volz, 2025. "The Impacts of Disasters on Capital Flows, International Reserves and Exchange Rates: Implications for Public Sector Financial Risk Management and Development Lenders," Working Papers 267, Department of Economics, SOAS University of London, UK.
    38. Adarov, Amat & Panizza, Ugo, 2026. "Public investment quality and sovereign risk," Journal of International Money and Finance, Elsevier, vol. 161(C).

  9. Bénétrix, Agustín & Pallan, Hayley & Panizza, Ugo, 2022. "The Elusive Link Between FDI and Economic Growth," CEPR Discussion Papers 17692, Centre for Economic Policy Research.

    Cited by:

    1. Amina Derbal & Abdelmalek Lakhdar & Youcef Souar & Brahim Zirari, 2025. "The Impact of Governance and the Interaction Between FDI and Human Capital on Economic Growth in Arab Countries: A Dynamic Panel Data Analysis," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(5), pages 16942-16965, November.
    2. Mark Awe Tachega & Junjian Wang & Yanjiao Chen & Rizwan Ahmed & Erica Odwira Opoku & Clement Mintah & Leonora Bart-Plange, 2025. "Investment attractiveness in BRICS+ economies: Evaluating business environment reforms, institutional quality, and macroeconomic factors," PLOS ONE, Public Library of Science, vol. 20(10), pages 1-33, October.
    3. Mohamud, Ibrahim Hussein, 2026. "Exploring the Dynamics of Trade Openness, External Debt, and Economic Growth in Somalia: Evidence from a Vector Error Correction Model (VECM)," MPRA Paper 128813, University Library of Munich, Germany, revised 21 Apr 2026.
    4. Jiongyi Hao, 2026. "The Conditional Role of Education in the FDI‐GVC Nexus: Evidence from a Global Bilateral Perspective," Trinity Economics Papers tep2126, Trinity College Dublin, Department of Economics.
    5. Magdalena Olczyk & Marjan Petreski, 2024. "From Global Value Chains to Local Jobs: Exploring FDI-induced Job Creation in EU-27," Papers 2410.04160, arXiv.org.
    6. I. D. Medvedev & G. I. Krivenko, 2024. "Assessing the Impact of Foreign Direct Investment on the Probability of Macro-Financial Overheating," Studies on Russian Economic Development, Springer, vol. 35(1), pages 109-115, February.

  10. Bolton, Patrick & Gulati, Mitu & Panizza, Ugo, 2022. "Sovereign Debt Puzzles," CEPR Discussion Papers 17742, Centre for Economic Policy Research.

    Cited by:

    1. Dennis Essers & Silvia Marchesi & Nejat G. Okatan, 2026. "Sovereign Defaults and Trade: External vs. Domestic Creditors," Working Papers 575, University of Milano-Bicocca, Department of Economics.
    2. Bassa, Karolina & Cont, Rama, 2025. "Dynamics of sovereign debt: credit risk and sustainability analysis," INET Oxford Working Papers 2025-24, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    3. Apeti, Ablam Estel & Obeng, Samuel & Tagem, Abrams & Were, Maureen, 2025. "Sovereign Default and Public Debt: What role for Fiscal Rules?," The Warwick Economics Research Paper Series (TWERPS) 1567, University of Warwick, Department of Economics.
    4. Michinao Okachi, 2026. "The Self-Fulfilling Default Model: Its Validity, Applicability, and Implications," TUPD Discussion Papers 83, Graduate School of Economics and Management, Tohoku University.

  11. Anna Gelpern & Ugo Panizza, 2022. "Enough Potential Repudiation: Economic and Legal Aspects of Sovereign Debt in the Pandemic Era," IHEID Working Papers 09-2022, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. Ugo Panizza, 2022. "Long-Term Debt Sustainability in Emerging Market Economies: A Counterfactual Analysis," IHEID Working Papers 07-2022, Economics Section, The Graduate Institute of International Studies.
    2. Mateos-Planas, Xavier & McCrary, Sean & Ríos-Rull, José-Víctor & Wicht, Adrien, 2025. "Commitment in the canonical sovereign default model," Journal of International Economics, Elsevier, vol. 157(C).
    3. Powell, Andrew & Panizza, Ugo, 2023. "Debt Reduction in Latin America and the Caribbean," IDB Publications (Working Papers) 13290, Inter-American Development Bank.
    4. Ugo Panizza, 2022. "Do Countries Default in Bad Times? The Role of Alternative Detrending Techniques," IHEID Working Papers 06-2022, Economics Section, The Graduate Institute of International Studies.
    5. Mattia Picarelli, 2024. "Sovereign defaults at home and abroad," Working Papers 60, European Stability Mechanism.

  12. Ugo Panizza, 2022. "Long-Term Debt Sustainability in Emerging Market Economies: A Counterfactual Analysis," IHEID Working Papers 07-2022, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. John Oduk & Catherine Mithia, 2024. "Debt Sustainability Analysis: Re-evaluating Debt Sustainability Analyses in the Context of Hegemonic Power and Sovereign Debt Restructuring," Development, Palgrave Macmillan;Society for International Deveopment, vol. 67(3), pages 220-232, December.
    2. Katiuska King & Manuel David Cruz, 2024. "Pro-cyclicality, Debt, and Privatizations, Contributions to Debt Sustainability Concept: Latin America Counterfactual Scenarios," Development, Palgrave Macmillan;Society for International Deveopment, vol. 67(3), pages 357-369, December.
    3. Anna Gelpern & Ugo Panizza, 2022. "Enough Potential Repudiation: Economic and Legal Aspects of Sovereign Debt in the Pandemic Era," IHEID Working Papers 09-2022, Economics Section, The Graduate Institute of International Studies.

  13. Panizza, Ugo, 2022. "Do Countries Default in Bad Times? The Role of Alternative Detrending Techniques," CEPR Discussion Papers 17216, Centre for Economic Policy Research.

    Cited by:

    1. Anna Gelpern & Ugo Panizza, 2022. "Enough Potential Repudiation: Economic and Legal Aspects of Sovereign Debt in the Pandemic Era," IHEID Working Papers 09-2022, Economics Section, The Graduate Institute of International Studies.

  14. Panizza, Ugo, 2021. "State-Owned Commercial Banks," CEPR Discussion Papers 16259, Centre for Economic Policy Research.

    Cited by:

    1. Klüh, Ulrich & Naji, Ilias, 2025. "Reluctant transformers: The institutional logics of German savings banks climate finance," ZNWU Discussion Papers 15, Darmstadt University of Applied Sciences, Darmstadt Business School, Center for Sustainable Economic and Corporate Policy (SECP).
    2. Sanchez Navarro,Dennis, 2024. "What Happens When the State Is Bossing around Markets ? An Analysis of the Performance Differentials between Businesses of the State (BOS) and Private-Owned Enterprises (POEs)," Policy Research Working Paper Series 10820, The World Bank.
    3. Babasyan, Davit & Gu, Yunfan & Melecky, Martin, 2023. "Late banking transitions: Comparing Uzbekistan to earlier reformers," World Development Perspectives, Elsevier, vol. 30(C).
    4. Borsuk, Marcin & Kowalewski, Oskar & Pisany, Paweł, 2024. "State-owned banks and international shock transmission," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    5. Rancan, Michela & Cariboni, Jessica & Keasey, Kevin & Vallascas, Francesco, 2023. "Bond issuance and the funding choices of European banks: The consequences of public debt," Journal of Empirical Finance, Elsevier, vol. 74(C).
    6. Boubakri, Narjess & Cotelioglu, Efe & Samet, Anis, 2026. "Government ownership and stock price crash risk in banks: International evidence," Emerging Markets Review, Elsevier, vol. 72(C).
    7. Panizza, Ugo, 2024. "Bank ownership around the world," Journal of Banking & Finance, Elsevier, vol. 166(C).
    8. Aziz Ariwibowo & Adi Afiff & Riani Rachmawati & Ratih Kusumastuti, 2024. "The impact of boundary spanning activities and resource orchestration in improving performance of Indonesian state-owned bank branches," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-12, December.
    9. Ralph de Haas & Sergei Guriev & Alexander Stepanov, 2022. "State Ownership and Corporate Leverage Around the World," Sciences Po Economics Publications (main) hal-03878686, HAL.

  15. Martina Viarengo & Ugo Panizza & Enrico Nano, 2021. "A Generation of Italian Economists," CID Working Papers 400, Center for International Development at Harvard University.

    Cited by:

    1. Nano, Enrico & Panizza, Ugo & Viarengo, Martina, 2024. "Merit-based scholarships for university graduates: A generation of Italian economists," Labour Economics, Elsevier, vol. 90(C).

  16. Francesca Caselli & Matilde Faralli & Paolo Manasse & Ugo Panizza, 2021. "On the Benefits of Repaying," Working Papers wp1163, Dipartimento Scienze Economiche, Universita' di Bologna.

    Cited by:

    1. Patrick Bolton & Mitu Gulati & Ugo Panizza, 2022. "Sovereign Debt Puzzles," IHEID Working Papers 27-2022, Economics Section, The Graduate Institute of International Studies.
    2. Charles Serfaty, 2024. "Sovereign Default and International Trade," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(4), pages 1449-1501, December.

  17. Bolton, Patrick & Gulati, Mitu & Panizza, Ugo, 2020. "Legal Air Cover," CEPR Discussion Papers 15336, Centre for Economic Policy Research.

    Cited by:

    1. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2021. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of a Default," Development Working Papers 475, Centro Studi Luca d'Agliano, University of Milano.
    2. Patrick Bolton & Mitu Gulati & Ugo Panizza, 2022. "Sovereign Debt Puzzles," IHEID Working Papers 27-2022, Economics Section, The Graduate Institute of International Studies.

  18. Ugo Panizza, 2020. "Fiscal Risk and its Drivers An Empirical Analysis," IHEID Working Papers 17-2020, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. Valencia, Oscar & Gamboa-Arbeláez, Juliana & Sánchez, Gustavo, 2024. "Debt erosion: Asymmetric response to demand and supply shocks," International Review of Economics & Finance, Elsevier, vol. 96(PA).

  19. Mitu Gulati & Ugo Panizza, 2020. "Alternative Solutions to the Odious Debt Problem," IHEID Working Papers 02-2020, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. Choi, Mi Jin & Kim, Jangmin & Roper, Ayla & LaBrenz, Catherine A. & Boyd, Reiko, 2021. "Racial disparities in assignment to alternative response," Children and Youth Services Review, Elsevier, vol. 125(C).

  20. Gulati, Mitu & Panizza, Ugo & Weidemaier, Mark & Willingham, Grace, 2019. "When Governments Promise to Prioritize Public Debt: Do Markets Care?," CEPR Discussion Papers 13673, Centre for Economic Policy Research.

    Cited by:

    1. Juan Flores Zendejas, 2021. "Contesting the preferred creditor status of the League of Nations, 1931–3," Economic History Review, Economic History Society, vol. 74(4), pages 1062-1086, November.

  21. Bussolo,Maurizio & De Nicola,Francesca & Panizza,Ugo G. & Varghese,Richard, 2019. "Political Connections and Financial Constraints : Evidence from Transition Countries," Policy Research Working Paper Series 8956, The World Bank.

    Cited by:

    1. Yu-Hong Ai & Di-Yun Peng & Huan-Huan Xiong, 2021. "Impact of Environmental Regulation Intensity on Green Technology Innovation: From the Perspective of Political and Business Connections," Sustainability, MDPI, vol. 13(9), pages 1-23, April.
    2. Kolliopoulos, Athanasios, 2021. "Reforming the Greek financial system: a decade of failure," LSE Research Online Documents on Economics 108523, London School of Economics and Political Science, LSE Library.
    3. Babasyan, Davit & Gu, Yunfan & Melecky, Martin, 2023. "Late banking transitions: Comparing Uzbekistan to earlier reformers," World Development Perspectives, Elsevier, vol. 30(C).
    4. Athanasios Kolliopoulos, 2021. "Reforming the Greek Financial System: a decade of failure," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 155, Hellenic Observatory, LSE.

  22. Laura Alfaro & Gonzalo Asis & Anusha Chari & Ugo Panizza, 2019. "Corporate Debt, Firm Size and Financial Fragility in Emerging Markets," NBER Working Papers 25459, National Bureau of Economic Research, Inc.

    Cited by:

    1. Georgiadis, Georgios & Zhu, Feng, 2021. "Foreign-currency exposures and the financial channel of exchange rates: Eroding monetary policy autonomy in small open economies?," Journal of International Money and Finance, Elsevier, vol. 110(C).
    2. De Gregorio, José & de la Horra, Luis P. & Jara, Mauricio, 2026. "Currency mismatches in emerging markets: Effects on corporate liquidity, investment dynamics and performance," The North American Journal of Economics and Finance, Elsevier, vol. 83(C).
    3. Pérez Artica, Dr. Rodrigo & Rabinovich, Dr. Joel & Zeolla, Dr. Nicolás Hernán, 2026. "Beyond carry-trading: New insights into the uses of foreign-denominated bond issuances by Latin American firms," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 7(2).
    4. Julián Caballero, 2020. "Corporate dollar debt and depreciations: all's well that ends well?," BIS Working Papers 879, Bank for International Settlements.
    5. Avdjiev, Stefan & Burger, John & Hardy, Bryan, 2025. "New spare tires: local currency credit as a global shock absorber," Journal of International Money and Finance, Elsevier, vol. 158(C).
    6. Huseyin OZTURK & Yukihiro YASUDA, 2021. "We Are Alike: Capital Structure of Japanese SMEs Across Prefectures," Discussion papers 21092, Research Institute of Economy, Trade and Industry (RIETI).
    7. Egemen Eren & Semyon Malamud & Haonan Zhou, 2023. "Signaling with debt currency choice," BIS Working Papers 1067, Bank for International Settlements.
    8. Zhang, Zuomin & Wu, Yingjue & Wang, Honglei, 2024. "Corporate financial fragility, R&D investment, and corporate green innovation: Evidence from China," Finance Research Letters, Elsevier, vol. 62(PB).
    9. Du, Qingyuan & Hong, Shengjie & Wang, Yao & Wang, Yaqi, 2026. "Exchange rate, foreign currency debt and firm-level investment," Journal of International Money and Finance, Elsevier, vol. 161(C).
    10. Laura Alfaro & Julian Caballero & Bryan Hardy, 2025. "FX debt and optimal exchange rate hedging," BIS Working Papers 1303, Bank for International Settlements.
    11. Bordo, Michael D. & Meissner, Christopher M., 2023. "Original sin and the great depression," Journal of International Economics, Elsevier, vol. 145(C).
    12. Zhao, Zhihui & Liu, Wei & Ning, Yiyi & Yang, Shiyu, 2024. "Can China go green through digitalization? Evidence from China's listed firms," International Review of Economics & Finance, Elsevier, vol. 94(C).
    13. Antoine GODIN & Alvaro MORENO & Diego GUEVARA & Jhan ANDRADE & Christos PIERROS & Devrim YILMAZ & Sebastian VALDECANTOS, 2022. "Thinking macroeconomic vulnerabilities in the context of low-carbon transition," Working Paper f033267a-4c36-4ee0-8e3b-7, Agence française de développement.
    14. Gonzalo Asis & Anusha Chari & Adam Haas, 2020. "In Search of Distress Risk in Emerging Markets," NBER Working Papers 27213, National Bureau of Economic Research, Inc.
    15. Dodd, Olga & Kalimipalli, Madhu & Chan, Wing, 2021. "Evaluating corporate credit risks in emerging markets," International Review of Financial Analysis, Elsevier, vol. 73(C).
    16. Camila Casas & Sergii Meleshchuk & Yannick Timmer, 2022. "The Dominant Currency Financing Channel of External Adjustment," International Finance Discussion Papers 1343, Board of Governors of the Federal Reserve System (U.S.).
    17. Bacchetta, Philippe & Cordonier, Rachel & Merrouche, Ouarda, 2023. "The rise in foreign currency bonds: The role of US monetary policy and capital controls," Journal of International Economics, Elsevier, vol. 140(C).
    18. Abraham,Facundo & Cortina Lorente,Juan Jose & Schmukler,Sergio L., 2020. "Growth of Global Corporate Debt : Main Facts and Policy Challenges," Policy Research Working Paper Series 9394, The World Bank.
    19. Xiao Wang & Steve Pak Yeung Wu & Haichun Ye, 2026. "Cheap U.S. Dollar Credit: Panacea or Poison? Firm‐Level Evidence from Emerging Markets," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 58(4), pages 1167-1199, June.
    20. Jun Hee Kwak, 2025. "A Causal Linkage: Corporate Debt and Sovereign Spreads," Empirical Economics, Springer, vol. 68(4), pages 1567-1611, April.
    21. Yong Ma & Yanfang Wan & Yixiao Zhao, 2026. "Financial Leverage and Stock Price Crash Risk: The Role of Growth in Chinese Firms," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 66(1), pages 392-408, March.
    22. Caramichael, John & Rapp, Andreas C., 2024. "The green corporate bond issuance premium," Journal of Banking & Finance, Elsevier, vol. 162(C).
    23. Sahminan, 2021. "Impacts Of Global Financial Conditions On Non-Financial Corporate Leverage In Indonesia," Working Papers WP/14/2021, Bank Indonesia.
    24. Hong, Jifeng & Kazakis, Pantelis & Strieborny, Martin, 2024. "Green Bond Issuance by Firms, External Monitoring, and Probability of Default: An Empirical Research Based on Green Policies," MPRA Paper 123049, University Library of Munich, Germany.
    25. Abele, Christian & Bénassy-Quéré, Agnès & Fontagné, Lionel, 2024. "The impact of financial tightening on firm productivity: Maturity matters," Journal of International Money and Finance, Elsevier, vol. 144(C).
    26. Dongmin Kong & Mengxu Xiong, 2021. "Unintended consequences of tax incentives on export product quality: Evidence from a natural experiment in China," Review of International Economics, Wiley Blackwell, vol. 29(4), pages 802-837, September.
    27. Bampi, Rodrigo E. & Colombo, Jefferson A., 2021. "Heterogeneous effects of foreign exchange appreciation on industrial output: Evidence from disaggregated manufacturing data," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 431-451.
    28. Andrea Fabiani & Martha López & José-Luis Peydró & Paul E. Soto, 2023. "Capital Controls, Corporate Debt and Real Effects: Evidence from Boom and Crisis Times," Borradores de Economia 1244, Banco de la Republica de Colombia.
    29. Abraham, Facundo & Cortina, Juan J. & Schmukler, Sergio L., 2021. "The rise of domestic capital markets for corporate financing: Lessons from East Asia," Journal of Banking & Finance, Elsevier, vol. 122(C).
    30. Sérgio Leão & Rafael Schiozer & Raquel F. Oliveira & Gustavo Araujo, 2022. "Lending Relationships and Currency Hedging," Working Papers Series 565, Central Bank of Brazil, Research Department.
    31. Le, Anh-Tuan & Doan, Anh-Tuan, 2020. "Corruption and financial fragility of small and medium enterprises: International evidence," Journal of Multinational Financial Management, Elsevier, vol. 57.
    32. Lim, Jamus Jerome & Long, Xin, 2026. "The dollar squeeze and economic growth," Journal of Macroeconomics, Elsevier, vol. 87(C).
    33. Zhandos Ybrayev & Serik Rustanov & Aknur Baglanova, 2025. "Corporate characteristics and firm’s financial fragility: evidence from Kazakhstan," International Economics and Economic Policy, Springer, vol. 22(4), pages 1-19, October.
    34. CHANG, Shian & ARAI, Natsuki, 2025. "US Credit Spillovers to Small Open Economies : A Proxy-VAR Approach," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 66(1), pages 46-60, June.
    35. Huang, Yi & Panizza, Ugo & Portes, Richard, 2024. "Corporate foreign bond issuance and interfirm loans in China," Journal of International Economics, Elsevier, vol. 152(C).
    36. Niepmann, Friederike & Schmidt-Eisenlohr, Tim, 2022. "Foreign currency loans and credit risk: Evidence from U.S. banks," Journal of International Economics, Elsevier, vol. 135(C).
    37. Pardo-Figueroa, Renzo, 2026. "Export specialization, foreign currency debt, and resilience during crises," Emerging Markets Review, Elsevier, vol. 73(C).
    38. Epstein, Brendan & Finkelstein Shapiro, Alan & González Gómez, Andrés, 2019. "Global financial risk, aggregate fluctuations, and unemployment dynamics," Journal of International Economics, Elsevier, vol. 118(C), pages 351-418.
    39. Calomiris, Charles W. & Larrain, Mauricio & Schmukler, Sergio L. & Williams, Tomas, 2022. "Large international corporate bonds: Investor behavior and firm responses," Journal of International Economics, Elsevier, vol. 137(C).
    40. Charles W. Calomiris & Mauricio Larrain & Sergio L. Schmukler & Tomas Williams, 2020. "Search for Yield in Large International Corporate Bonds: Investor Behavior and Firm Responses," Mo.Fi.R. Working Papers 165, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    41. Andrea Fabiani & Martha López Piñeros & José-Luis Peydró & Paul E. Soto, 2022. "Capital Controls, Corporate Debt and Real Effects," Working Papers 1339, Barcelona School of Economics.
    42. Leão, Sergio & Schiozer, Rafael & Oliveira, Raquel F. & Araujo, Gustavo, 2025. "Lending relationships and access to currency hedging: Evidence from Brazil," Journal of Financial Intermediation, Elsevier, vol. 63(C).
    43. Arshad Hasan & Waqas Anwar & Collins G. Ntim, 2026. "Corporate Financial Distress and Social Media Disclosures: The Moderating Effect of Governance Mechanisms," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 33(4), pages 5610-5629, July.
    44. Laura Alfaro & Mauricio Calani & Liliana Varela, 2023. "Granular Corporate Hedging Under Dominant Currency," Discussion Papers 2315, Centre for Macroeconomics (CFM).
    45. Pan, Lulu & Xu, Mengmeng, 2026. "Information-based resilience: Credit line disclosure as strategic response to natural disasters," China Economic Review, Elsevier, vol. 97(C).
    46. Eduardo Borensztein & Lei Sandy Ye, 2021. "Corporate debt overhang and investment in emerging economies: Firm‐level evidence," International Finance, Wiley Blackwell, vol. 24(1), pages 18-39, April.
    47. Li, WeiWei & Padmanabhan, Prasad & Huang, Chia-Hsing, 2026. "Do analysts and long-term institutional investors influence a firm's distress risks?," International Review of Economics & Finance, Elsevier, vol. 106(C).
    48. Caglayan, Mustafa & Machokoto, Michael, 2024. "The sensitivity of investment to internal and external funds: New emerging market evidence," Research in International Business and Finance, Elsevier, vol. 67(PB).
    49. Ruch,Franz Ulrich, 2020. "Policy Challenges for Emerging and Developing Economies : Lessons from the Past Decade," Policy Research Working Paper Series 9180, The World Bank.
    50. Ashutosh Yadav & Simplice A. Asongu, 2025. "The Role of ESG Performance in Moderating the Impact of Financial Distress on Company Value: Evidence of Wavelet‐Enhanced Quantile Regression With Indian Companies," Business Strategy and the Environment, Wiley Blackwell, vol. 34(3), pages 2782-2798, March.
    51. Hien Thu Pham & Nhan Buu Phan & Shino Takayama, 2020. "Productivity, Efficiency and Firm Size Distribution: Evidence from Vietnam," Discussion Papers Series 617, School of Economics, University of Queensland, Australia.
    52. De Gregorio, José & Jara, Mauricio, 2024. "The boom of corporate debt in emerging markets: Carry trade or save to invest?," Journal of International Economics, Elsevier, vol. 148(C).
    53. Li, Xiao-Lin & Wang, Lijuan & Kong, Dongmin, 2023. "Macro-prudential policy and systemic risk of real estate firms: Evidence from China," Finance Research Letters, Elsevier, vol. 58(PC).
    54. Uddin, Moshfique & Chowdhury, Anup & Anderson, Keith & Chaudhuri, Kausik, 2021. "The effect of COVID – 19 pandemic on global stock market volatility: Can economic strength help to manage the uncertainty?," Journal of Business Research, Elsevier, vol. 128(C), pages 31-44.
    55. Caixia Liu & Xuesheng Chen & Yuquan Wang & Shuwen Xiao & Chengyu Liu & Feng Liu, 2025. "Exploring the determinants of systematic risk through machine learning: evidence from Chinese listed companies," Applied Economics, Taylor & Francis Journals, vol. 57(59), pages 10454-10468, December.
    56. Moise Dumitru-Florin, 2023. "The Influence of the Company Size, Financing Structure and Assets Efficiency on the Positive Net Result in the Agri-Business Sector," Proceedings of the International Conference on Business Excellence, Paradigm, vol. 17(1), pages 524-536, July.
    57. Anh-Tuan Doan, 2024. "Economic Freedom, Ownership Structure, and SME Financial Fragility: Evidence from an Emerging Economy," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 31(4), pages 975-1006, December.

  23. Eduardo Fernández-Arias & Ricardo Hausmann & Ugo Panizza, 2019. "Smart Development Banks," CID Working Papers 350, Center for International Development at Harvard University.

    Cited by:

    1. Régis MARODON, 2020. "Les banques de développement peuvent-elles relever le défi du développement durable ?," Working Paper 8eb18544-95bf-404e-bbfe-e, Agence française de développement.
    2. Babasyan, Davit & Gu, Yunfan & Melecky, Martin, 2023. "Late banking transitions: Comparing Uzbekistan to earlier reformers," World Development Perspectives, Elsevier, vol. 30(C).
    3. Borsuk, Marcin & Kowalewski, Oskar & Pisany, Paweł, 2024. "State-owned banks and international shock transmission," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    4. Régis MARODON, 2020. "Can development banks step up to the challenge of sustainable development?," Working Paper 8eb18544-95bf-404e-bbfe-e, Agence française de développement.
    5. Panizza, Ugo, 2024. "Bank ownership around the world," Journal of Banking & Finance, Elsevier, vol. 166(C).
    6. Alfredo Schclarek & Jiajun Xu & Jianye Yan, 2023. "The maturity‐lengthening role of national development banks," International Review of Finance, International Review of Finance Ltd., vol. 23(1), pages 130-157, March.
    7. Dan Costin NIŢESCU & Valentin MURGU, 2022. "Development banks – promoters of economic development?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(633), W), pages 5-20, Winter.
    8. Ricardo Barboza & André Sant’Anna & Maurício Furtado, 2026. "How developmental are development banks? Evidence from Brazil," International Economics and Economic Policy, Springer, vol. 23(3), pages 1-32, July.
    9. Deepak Nayyar & Gaurav Nayyar, 2024. "Made in India: Industrial Policy in a Changing World," Journal of Industry, Competition and Trade, Springer, vol. 24(1), pages 1-27, December.
    10. Porenta, Jan & Rant, Vasja, 2025. "ESG relevance in credit risk of development banks," Research in International Business and Finance, Elsevier, vol. 76(C).
    11. Eduardo FERNANDEZ-ARIAS & Jiajun XU, 2020. "Effective development banking: loans or guarantees?," Working Paper 2fcdfcfb-d113-44d8-9e02-6, Agence française de développement.
    12. Nicolás àguila & Juan M. Graña, 2020. "The Influence of the Interest Rate in Capitalist Competition: Capital Differentiation and Structural Change," Bulletin of Political Economy, Bulletin of Political Economy, vol. 14(2), pages 153-177, December.
    13. Gong, Di & Xu, Jiajun & Yan, Jianye, 2023. "National development banks and loan contract terms: Evidence from syndicated loans," Journal of International Money and Finance, Elsevier, vol. 130(C).
    14. Simone Tagliapietra & Reinhilde Veugelers, 2021. "Fostering the Industrial Component of the European Green Deal: Key Principles and Policy Options," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(6), pages 305-310, November.
    15. Heman Khouilla & Cécile Bastidon, 2024. "Does increased intellectual property rights protection foster innovation in developing countries? A literature review of innovation and catch‐up," Journal of International Development, John Wiley & Sons, Ltd., vol. 36(2), pages 1170-1188, March.

  24. Kose, M. Ayhan & Matsuoka, Hideaki & Panizza, Ugo & Vorisek, Dana, 2019. "Inflation Expectations: Review and Evidence," CEPR Discussion Papers 13601, Centre for Economic Policy Research.

    Cited by:

    1. Gabriele Galati & Richhild Moessner & Maarten van Rooij, 2020. "The anchoring of long-term inflation expectations of consumers: insights from a new survey," Working Papers 688, DNB.
    2. Olivier Armantier & Gizem Koşar & Jason Somerville & Giorgio Topa & Wilbert Van der Klaauw & John C. Williams, 2022. "The Curious Case of the Rise in Deflation Expectations," Staff Reports 1037, Federal Reserve Bank of New York.
    3. M. Ayhan Kose & Peter S. O. Nagle & Franziska Ohnsorge & Naotaka Sugawara, 2020. "Can This Time Be Different? Policy Options in Times of Rising Debt," Koç University-TUSIAD Economic Research Forum Working Papers 2008, Koc University-TUSIAD Economic Research Forum.
    4. Duncan, Roberto & Martínez García, Enrique & Toledo, Patricia, 2026. "Just do IT? An assessment of inflation targeting in a global comparative case study," Journal of International Money and Finance, Elsevier, vol. 163(C).
    5. Jongrim Ha & M. Ayhan Kose & Franziska Ohnsorge, 2021. "Inflation During the Pandemic: What Happened? What is Next?," Koç University-TUSIAD Economic Research Forum Working Papers 2108, Koc University-TUSIAD Economic Research Forum.
    6. Kose, M. Ayhan & Ohnsorge, Franziska & Sugawara, Naotaka, 2020. "Benefits and Costs of Debt: The Dose Makes the Poison," CEPR Discussion Papers 14439, Centre for Economic Policy Research.
    7. Dieppe, Alistair & Francis, Neville & Kindberg-Hanlon, Gene, 2021. "Technology and demand drivers of productivity dynamics in developed and emerging market economies," Working Paper Series 2533, European Central Bank.
    8. Hwang, In Do & Lustenberger, Thomas & Rossi, Enzo, 2021. "Does communication influence executives’ opinion of central bank policy?☆," Journal of International Money and Finance, Elsevier, vol. 115(C).
    9. Kose,Ayhan & Ohnsorge,Franziska Lieselotte, 2020. "Emerging and Developing Economies : Ten Years After the Global Recession," Policy Research Working Paper Series 9148, The World Bank.
    10. Byrne, David & Zekaite, Zivile, 2019. "Euro area longer-term inflation expectations revisited," Economic Letters 12/EL/19, Central Bank of Ireland.
    11. Richhild Moessner & Előd Takáts, 2020. "How well-anchored are long-term inflation expectations?," BIS Working Papers 869, Bank for International Settlements.
    12. Dumitriu, Ramona & Stefanescu, Răzvan, 2020. "Provocări pentru Finanţele Comportamentale în contextul COVID-19 [Some challenges for the Behavioral Finance in the Context of COVID-19]," MPRA Paper 99675, University Library of Munich, Germany, revised 16 Apr 2020.
    13. Barry Eichengreen & Poonam Gupta, 2024. "Inflation Targeting in India: A Further Assessment," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 18(1-2), pages 7-42, February.
    14. In Do Hwang & Enzo Rossi, 2020. "Does communication influence executives' opinion of central bank policy?," Working Papers 2020-17, Swiss National Bank.
    15. Ali Inayat, 2023. "Household Inflation Expectations Uncertainty: A Case for Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 28(1), pages 1-39, Jan-June.
    16. Monique Reid & Pierre Siklos, 2026. "Whose inflation expectations forecast best? Lessons from South African survey data," International Economics and Economic Policy, Springer, vol. 23(3), pages 1-36, July.
    17. Eda Gulsen & Hakan Kara, 2020. "Formation of inflation expectations: Does macroeconomic and policy environment matter?," Koç University-TUSIAD Economic Research Forum Working Papers 2017, Koc University-TUSIAD Economic Research Forum.
    18. Ha, Jongrim & Kose, Ayhan M. & Ohnsorge, Franziska, 2022. "From Low to High Inflation: Implications for Emerging Market and Developing Economies," MPRA Paper 112596, University Library of Munich, Germany.
    19. Richhild Moessner, 2021. "Determinants of Inflation Expectations," CESifo Working Paper Series 9485, CESifo.
    20. Gupta, Poonam & Eichengreen, Barry & Choudhary, Rishabh, 2021. "Inflation Targeting in India : An Interim Assessment," MPRA Paper 112656, University Library of Munich, Germany.
    21. Montes, Gabriel Caldas & Dantas, João, 2025. "Effects of trilemma policies patterns on monetary policy credibility," Economic Systems, Elsevier, vol. 49(2).
    22. Mr. Rudolfs Bems & Francesca Caselli & Mr. Francesco Grigoli & Bertrand Gruss & Weicheng Lian, 2018. "Expectations' Anchoring and Inflation Persistence," IMF Working Papers 2018/280, International Monetary Fund.
    23. Tommy Chrimes & Bram Gootjes & M. Ayhan Kose & Collette Wheeler, 2024. "The Great Reversal," CAMA Working Papers 2024-27, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    24. Ha,Jongrim & Ivanova,Anna & Ohnsorge,Franziska Lieselotte & Unsal Portillo Ocando,Derya Filiz, 2019. "Inflation : Concepts, Evolution, and Correlates," Policy Research Working Paper Series 8738, The World Bank.
    25. James Yetman, 2020. "Pass-through from short-horizon to long-horizon inflation expectations, and the anchoring of inflation expectations," BIS Working Papers 895, Bank for International Settlements.
    26. Oh, Eun Young & Magkonis, Georgios & Zhang, Shuonan, 2026. "Dynamics of monetary policy regimes in China under rising global uncertainty: A time-varying approach," Finance Research Letters, Elsevier, vol. 92(C).
    27. Şule GÜNDÜZ & Seçkin YILDIRIM & Mübeccel Banu DURUKAN, 2020. "An Investigation of the Factors Affecting Inflation Perceptions: A Case Study on Business and Economics Undergraduate Students Abstract: The aim of this study is to investigate the factors behind the inflation perceptions of undergraduate students of," Sosyoekonomi Journal, Sosyoekonomi Society, issue 28(45).
    28. Khaliq Ul Rehman & Ghulam Ghouse, 2024. "Examining Inflation Expectations within Asian Economies: Application of Wavelet Quantile Analysis towards Assessing Monetary Policy Credibility," Journal of Economic Impact, Science Impact Publishers, vol. 6(1), pages 70-80.
    29. Momah N. Sandra & Akintoye I.R & Ogbebor. I. Peter, 2025. "The Effect of Oil Tax Revenue on Economic Growth in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(3), pages 793-805, March.

  25. Fatás, Antonio & Ghosh, Atish R. & Panizza, Ugo, 2019. "The Motives to Borrow," CEPR Discussion Papers 13735, Centre for Economic Policy Research.

    Cited by:

    1. Bayale, Nimonka & Tchagnao, Abdou-Fataou & Chavula, Hopestone Kayiska, 2020. "More elections, more burden? On the relationship between elections and public debt in Africa," MPRA Paper 101744, University Library of Munich, Germany.
    2. Apeti, Ablam Estel & Bambe, Bao-We-Wal & Combes, Jean-Louis & Edoh, Eyah Denise, 2024. "Original sin: Fiscal rules and government debt in foreign currency in developing countries," Journal of Macroeconomics, Elsevier, vol. 80(C).
    3. Tony Addison & Alan R. Roe, 2024. "Extractive industries: recognizing and managing the risks in resource-dependent economies," WIDER Working Paper Series wp-2024-27, World Institute for Development Economic Research (UNU-WIDER).
    4. Ablam Estel APETI & Bao-We-Wal BAMBE & Jean Louis COMBES, 2022. "On the Macroeconomic Effects of Fiscal Reforms : Fiscal Rules and Public Expenditure Efficiency," LEO Working Papers / DR LEO 2985, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    5. Gómez-Puig, Marta & Sosvilla-Rivero, Simón & Martínez-Zarzoso, Inmaculada, 2022. "On the heterogeneous link between public debt and economic growth," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
    6. Mahieddine Adnan Ghecham, 2020. "Further attempt to explain the oil curse mechanism using a debt overhang concept," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 48(4), pages 852-868, October.
    7. Palanca, Thais & João Ricardo, Costa Filho, 2020. "Frankfurt becomes the new city: impactos macro-financeiros do Brexit na Alemanha [Frankfurt becomes the new city: Brexit's macro-financial impacts on Germany]," MPRA Paper 100494, University Library of Munich, Germany.
    8. Kantorowicz, Jaroslaw & Collewet, Marion & DiGiuseppe, Matthew & Vrijburg, Hendrik, 2024. "How to finance green investments? The role of public debt," Energy Policy, Elsevier, vol. 184(C).
    9. Bernardini, Marco & Forni, Lorenzo, 2020. "Private and public debt interlinkages in bad times," Journal of International Money and Finance, Elsevier, vol. 109(C).
    10. Ignat Ignatov, 2021. "Unravelling the EU Debt Knot Over 2000-2019: An Injection-Leakage Approach," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 49-71.
    11. Emilio Congregado & Vicente Esteve & Marã A A. Prats & Nicola Rubino, 2026. "Optimal Public Deficit and Tax-smoothing in the Spanish Economy, 1850-2024," Hacienda Pública Española / Review of Public Economics, IEF, vol. 257(2), pages 91-126, June.
    12. Marta Gómez-Puig & Simón Sosvilla-Rivero & Inmaculada Martínez-Zarzoso, 2019. "Re-examining the debt-growth nexus: A grouped fixed-effect approach," Documentos de Trabajo del ICAE 2019-21, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
    13. Willem Vanlaer & Mattia Picarelli & Wim Marneffe, 2021. "Debt and Private Investment: Does the EU Suffer from a Debt Overhang?," Open Economies Review, Springer, vol. 32(4), pages 789-820, September.

  26. Bussolo, Maurizio & de Nicola, Francesca & Panizza, Ugo & Varghese, Richard, 2019. "Political Connections and Financial Constraints: Evidence from Central and Eastern Europe," CEPR Discussion Papers 14126, Centre for Economic Policy Research.

    Cited by:

    1. Yu-Hong Ai & Di-Yun Peng & Huan-Huan Xiong, 2021. "Impact of Environmental Regulation Intensity on Green Technology Innovation: From the Perspective of Political and Business Connections," Sustainability, MDPI, vol. 13(9), pages 1-23, April.
    2. Babasyan, Davit & Gu, Yunfan & Melecky, Martin, 2023. "Late banking transitions: Comparing Uzbekistan to earlier reformers," World Development Perspectives, Elsevier, vol. 30(C).

  27. Huang, Yi & Panizza, Ugo & Portes, Richard, 2018. "Corporate foreign bond issuance and interfirm loans in China," CEPR Discussion Papers 12865, Centre for Economic Policy Research.

    Cited by:

    1. Lu, Dong & Qian, Xingwang & Zhu, Wenyu, 2024. "External debt currency denomination and the currency composition of foreign exchange reserves," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    2. Ding, Haoyuan & Lin, Shu & Wu, Shujie & Ye, Haichun, 2024. "Financial spillovers of foreign direct investment: Evidence from China," Journal of International Economics, Elsevier, vol. 148(C).
    3. Du, Qingyuan & Hong, Shengjie & Wang, Yao & Wang, Yaqi, 2026. "Exchange rate, foreign currency debt and firm-level investment," Journal of International Money and Finance, Elsevier, vol. 161(C).
    4. Tomas Williams & Sergio Schmukler & Mauricio Larrain & Charles Calomiris, 2019. "Search for Yield in Large International Corporate Bonds: Investor Behavior and Firm Responses," Working Papers 2019-15, The George Washington University, Institute for International Economic Policy.
    5. Mohapatra, Sanket & Nagar, Jay Prakash, 2020. "Foreign Currency Borrowing and Firm Financing Constraints in Emerging Markets: Evidence from India," IIMA Working Papers WP 2020-08-01, Indian Institute of Management Ahmedabad, Research and Publication Department.
    6. Valentina Bruno & Ilhyock Shim & Hyun Song Shin, 2022. "Dollar beta and stock returns," Oxford Open Economics, Oxford University Press, vol. 1, pages 1-10.
    7. Valentina Bruno & Hyun Song Shin, 2020. "Currency Depreciation and Emerging Market Corporate Distress," Management Science, INFORMS, vol. 66(5), pages 1935-1961, May.
    8. Serena, Jose Maria, 2026. "Credit market sentiment, investor monitoring and firms’ international borrowing," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 7(3).
    9. Shugo Yamamoto, 2020. "Global Liquidity,Offshore Bond Issuance and Shadow Banking in China," Discussion Papers 2011, Graduate School of Economics, Kobe University.
    10. Xu, Nana & Yuan, Yan & Rong, Zhao, 2022. "Depressed access to formal finance and the use of credit card debt in Chinese SMEs," China Economic Review, Elsevier, vol. 72(C).
    11. Banerjee, Ryan & Hofmann, Boris & Mehrotra, Aaron N., 2020. "Corporate investment and the exchange rate: The financial channel," BOFIT Discussion Papers 6/2020, Bank of Finland Institute for Emerging Economies (BOFIT).
    12. Calomiris, Charles W. & Larrain, Mauricio & Schmukler, Sergio L. & Williams, Tomas, 2022. "Large international corporate bonds: Investor behavior and firm responses," Journal of International Economics, Elsevier, vol. 137(C).
    13. Bryan Hardy & Felipe Saffie, 2019. "From carry trades to trade credit: financial intermediation by non-financial corporations," BIS Working Papers 773, Bank for International Settlements.
    14. Benlialper, Ahmet, 2026. "Global corporate bond markets and local monetary policy transmission," Journal of Corporate Finance, Elsevier, vol. 99(C).
    15. Marlene Amstad & Zhiguo He, 2019. "Chinese Bond Market and Interbank Market," NBER Working Papers 25549, National Bureau of Economic Research, Inc.
    16. Huang, Wei & Yang, Fan & Zhu, Yixin, 2025. "Digital economy and entrusted loans: Evidence from shadow banking," Finance Research Letters, Elsevier, vol. 73(C).
    17. Yang Jiao & Ohyun Kwon, 2025. "Imports, Exports, and the Currency Composition of Corporate Debt," Working Papers 202518, Center for Global Policy Analysis, LeBow College of Business, Drexel University.
    18. Uroš Herman & Andreja Lenarčič & Mateja Gabrijelčič, 2025. "Firm performance and (foreign) debt financing before and during the global financial crisis: evidence from firm-level data," Risk Management, Palgrave Macmillan, vol. 27(4), pages 1-35, December.

  28. Huang, Yi & Panizza, Ugo & Varghese, Richard, 2018. "Does Public Debt Crowd Out Corporate Investment? International Evidence," CEPR Discussion Papers 12931, Centre for Economic Policy Research.

    Cited by:

    1. Mindaugas Butkus & Diana Cibulskiene & Lina Garsviene & Janina Seputiene, 2021. "Empirical Evidence on Factors Conditioning the Turning Point of the Public Debt–Growth Relationship," Economies, MDPI, vol. 9(4), pages 1-22, December.
    2. Helder Ferreira de Mendonça & Ytallo Brito, 2021. "The link between public debt and investment: an empirical assessment from emerging markets," Applied Economics, Taylor & Francis Journals, vol. 53(50), pages 5864-5876, October.
    3. Yang Li & Hu WenXiu & Su ZhenXing, 2023. "Impact of Local Official Corruption on Local Government Debt in China: The Mediating Role of Government Investment Efficiency," SAGE Open, , vol. 13(3), pages 21582440231, July.
    4. Li, Pengcheng & Qin, Yilun, 2024. "The impact of local government debt expansion on exports: A study based on Chinese enterprise-level data," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 299-315.
    5. Wang, Baoshi & Shi, Boyuhao, 2026. "The impact of local government debt on corporate inefficient investment," International Review of Economics & Finance, Elsevier, vol. 107(C).
    6. Talknice Saungweme & Nicholas M. Odhiambo, 2021. "Sovereign Debt and Economic Growth Nexus in Zimbabwe: A Dynamic Multivariate Causality Test," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 74(2), pages 173-196.
    7. Kose,Ayhan & Ohnsorge,Franziska Lieselotte & Sugawara,Naotaka, 2021. "A Mountain of Debt : Navigating the Legacy of the Pandemic," Policy Research Working Paper Series 9800, The World Bank.
    8. Saungweme, Talknice & Odhiambo, Nicholas M, 2019. "Relative impact of domestic and foreign public debt on economic growth in South Africa," Working Papers 25664, University of South Africa, Department of Economics.
    9. Hubert Gabrisch & Doris Hanzl-Weiss & Esther Linton-Kubelka & Leon Podkaminer & Roman Stöllinger, 2022. "Monthly Report No. 12/2022," wiiw Monthly Reports 2022-12, The Vienna Institute for International Economic Studies, wiiw.
    10. Kose,Ayhan & Ohnsorge,Franziska Lieselotte & Reinhart,Carmen M. & Rogoff,Kenneth S., 2021. "The Aftermath of Debt Surges," Policy Research Working Paper Series 9771, The World Bank.
    11. Cristiano Cantore & Matteo Gatto & Francesco Saverio Gaudio & Pascal Meichtry, 2026. "Fiscal Sustainability when Public Debt is High: The Role of Portfolio Liquidity," Working papers 1055, Banque de France.
    12. Rancan, Michela & Cariboni, Jessica & Keasey, Kevin & Vallascas, Francesco, 2023. "Bond issuance and the funding choices of European banks: The consequences of public debt," Journal of Empirical Finance, Elsevier, vol. 74(C).
    13. A. Fatas & Mr. Atish R. Ghosh & Ugo Panizza & Mr. Andrea F Presbitero, 2019. "The Motives to Borrow," IMF Working Papers 2019/101, International Monetary Fund.
    14. Bussolo, Maurizio & de Nicola, Francesca & Panizza, Ugo & Varghese, Richard, 2022. "Politically connected firms and privileged access to credit: Evidence from Central and Eastern Europe," European Journal of Political Economy, Elsevier, vol. 71(C).
    15. Kose, M. Ayhan & Ohnsorge, Franziska & Sugawara, Naotaka, 2020. "Benefits and Costs of Debt: The Dose Makes the Poison," CEPR Discussion Papers 14439, Centre for Economic Policy Research.
    16. Eminidou, Snezana & Geiger, Martin & Zachariadis, Marios, 2023. "Public debt and state-dependent effects of fiscal policy in the euro area," Journal of International Money and Finance, Elsevier, vol. 130(C).
    17. Saungweme, Talknice & Odhiambo, Nicholas M, 2019. "Sovereign debt and economic growth in Zimbabwe: Amultivariate causal linkage," Working Papers 25680, University of South Africa, Department of Economics.
    18. Isha Agarwal & David Jaume & Everardo Tellez de la Vega & Martin Tobal, 2024. "Differential Crowding Out Effects of Government Loans and Bonds: Evidence from an Emerging Market Economy," Working Papers 314, Red Nacional de Investigadores en Economía (RedNIE).
    19. Saungweme, Talknice & Odhiambo, Nicholas M, 2019. "Causality between public debt, public debt service and economic growth: Evidence from South Africa," Working Papers 25745, University of South Africa, Department of Economics.
    20. Bhanu Pratap Singh & Sujit Kumar, 2024. "Public Debt and Economic Growth in India: The New Evidence," Millennial Asia, , vol. 15(3), pages 429-446, September.
    21. Kong, Pengzhi & Lyu, Wenzhuo & Jiang, Hao & Ma, Yong, 2024. "Local urban investment bonds and the profitability of firms," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
    22. Bussolo, Maurizio & de Nicola, Francesca & Panizza, Ugo & Varghese, Richard, 2019. "Political Connections and Financial Constraints: Evidence from Central and Eastern Europe," CEPR Discussion Papers 14126, Centre for Economic Policy Research.
    23. Saungweme, Talknice & Odhiambo, Nicholas M, 2019. "The impact of domestic and foreign public debt on economic growth: Empirical evidence from Zimbabwe," Working Papers 25663, University of South Africa, Department of Economics.
    24. Talknice Saungweme & Nicholas M. Odhiambo, 2019. "Does Public Debt Impact Economic Growth in Zambia? An Ardl-Bounds Testing Approach," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 69(4), pages 53-73, October-D.
    25. Shenzhe Jiang & Jianjun Miao & Yuzhe Zhang, 2022. "China'S Housing Bubble, Infrastructure Investment, And Economic Growth," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1189-1237, August.
    26. Khan, Muhammad Arshad & Rahman, Abdul & Tareen, Bashir Ahmed, 2025. "Is Pakistan in a debt trap? Do domestic and foreign debts crowd-out private investment?," Journal of Policy Modeling, Elsevier, vol. 47(5), pages 1076-1096.
    27. Junbing Xu & Yuanyuan Li & Dawei Feng & Zhouyi Wu & Yang He, 2021. "Crowding in or crowding out? How local government debt influences corporate innovation for China," PLOS ONE, Public Library of Science, vol. 16(11), pages 1-20, November.
    28. Sofia São Marcos & Sofia Vale, 2024. "Is there a nonlinear relationship between public investment and private investment? Evidence from 21 Organization for Economic Cooperation and Development countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 887-902, January.
    29. Lucas Knust & David Oesch, 2024. "Fiscal monitoring and corporate investment," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 51(5-6), pages 1273-1301, May.
    30. Dobrota Gabriela & Popescu Anisia-Maria & Neacsu Alexandru Adrian, 2023. "An Empirical Study On Fiscal Policy And Economic Growth In Romania," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 32-39, December.
    31. Lei Wang & Chuncao Wang & Jiayi Chen & Jingke Chang, 2025. "The hidden crowding out effect: How does local government implicit debt pressure influence enterprise productivity in China?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 46(1), pages 502-514, January.
    32. Xuan Leng & Pengcheng Li & Yuming Zheng, 2023. "Does the expansion of local government debt affect the export quality?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(4), pages 2495-2515, June.
    33. Claudia Susana Gómez López & Artemio Jiménez Rico & Ana Karen Negrete García, 2024. "Deuda pública, desigualdad y desarrollo en México: evidencia estatal y municipal," Ensayos Revista de Economía, Universidad Autónoma de Nuevo León, vol. 43(2), pages 135-164, July.
    34. Willem Vanlaer & Mattia Picarelli & Wim Marneffe, 2021. "Debt and Private Investment: Does the EU Suffer from a Debt Overhang?," Open Economies Review, Springer, vol. 32(4), pages 789-820, September.
    35. Saungweme Talknice & Odhiambo Nicholas M., 2020. "Causality Between Public Debt, Public Debt Service and Economic Growth in an Emerging Economy," Studia Universitatis Babeș-Bolyai Oeconomica, Paradigm, vol. 65(1), pages 1-19, April.
    36. Bhattacharya, Rudrani & C. Prasanth & Rao, R. Kavita, 2024. "How much Debt is Optimal for the Major Indian States? Economic Growth vs. Debt Sustainability," Working Papers 24/411, National Institute of Public Finance and Policy.
    37. Frederick Nsambu Kijjambu & Benjamin Musiita & John Bosco Nsengiyumva, 2025. "Domestic Debt and Growth of Credit To the Private Sector in Uganda," Journal of Economics and Behavioral Studies, AMH International, vol. 17(3), pages 57-73.
    38. Alexander Amundsen & Danny Leung & Oana Secrieru, 2026. "Business dynamism and financial constraints," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 59(1), pages 67-105, February.
    39. Islam,Asif Mohammed & Nguyen,Ha, 2024. "Distributional Crowding Out Effects of Public Debt on Private Investment in Developing Economies," Policy Research Working Paper Series 10786, The World Bank.
    40. Yin, Liang & Hu, Shiyang & Yan, Huijun, 2025. "Local government implicit debt and corporate bankruptcy: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 107(C).

  29. Mitu Gulati & Ugo Panizza, 2018. "The Hausmann-Gorky Effect," IHEID Working Papers 02-2018, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. Nicolas Degive & Kim Oosterlinck, 2019. "Independence and the Effect of Empire The Case of “Sovereign Debts” issued by British Colonies," Working Papers CEB 19-018, ULB -- Universite Libre de Bruxelles.
    2. Chih-peng Wang & Ban-jwu Shih & Min-cheng Tu, 2022. "Study on the improvement of disaster resistance against tsunamis at Taiwan’s Keelung Port," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 110(3), pages 1507-1526, February.

  30. Jeromin Zettelmeyer & Eike Kreplin & Ugo Panizza, 2017. "Does Greece Need More Official Debt Relief? If So, How Much?," Working Paper Series WP17-6, Peterson Institute for International Economics.

    Cited by:

    1. Corsetti, G. & Erce, A. & Uy, T., 2017. "Official Sector Lending Strategies During the Euro Area Crisis," Cambridge Working Papers in Economics 1730, Faculty of Economics, University of Cambridge.
    2. Carmine Gabriele & Aitor Erce & Marialena Athanasopoulou & Juan Rojas, 2017. "Debt Stocks Meet Gross Financing Needs: A Flow Perspective into Sustainability," Working Papers 24, European Stability Mechanism.
    3. Giancarlo Corsetti & Aitor Erce & Timothy Uy, 2020. "Official sector lending during the euro area crisis," The Review of International Organizations, Springer, vol. 15(3), pages 667-705, July.
    4. Corsetti, G. & Erce, A. & Uy, T., 2018. "Debt Sustainability and the Terms of Official Support," Cambridge Working Papers in Economics 1864, Faculty of Economics, University of Cambridge.
    5. Symeon Mavridis, 2018. "Greece’s Economic and Social Transformation 2008–2017," Social Sciences, MDPI, vol. 7(1), pages 1-14, January.
    6. Cui, Wei, 2017. "Macroeconomic effects of delayed capital liquidation," LSE Research Online Documents on Economics 86156, London School of Economics and Political Science, LSE Library.

  31. Nathalie Monnet & Ugo Panizza, 2017. "A Note on the Economics of Philanthropy," IHEID Working Papers 19-2017, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. Hulisani Takalani, 2024. "Sustainable Development Goals as a determinant for international private sector philanthropy in the developing world," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 13(10), pages 189-196, December.
    2. Kotsadam, Andreas & Somville, Vincent, 2024. "Wealth and charitable giving – Evidence from an Ethiopian lottery," Journal of Development Economics, Elsevier, vol. 167(C).
    3. Andersen, Asbjørn G. & Franklin, Simon & Kotsadam, Andreas & Somville, Vincent & Villanger, Espen & Getahun, Tigabu, 2020. "Does Wealth Reduce Support for Redistribution? Evidence from an Ethiopian Housing Lottery," Discussion Paper Series in Economics 18/2020, Norwegian School of Economics, Department of Economics.

  32. Galindo, Arturo & Panizza, Ugo, 2017. "The Cyclicality of International Public Sector Borrowing in Developing Countries: Does the Lender Matter?," CEPR Discussion Papers 12243, Centre for Economic Policy Research.

    Cited by:

    1. Kevin P. Gallagher, 2025. "The international financial architecture and sustainable prosperity," WIDER Working Paper Series wp-2025-14, World Institute for Development Economic Research (UNU-WIDER).
    2. Francesca Castellani & Marcelo Olarreaga & Ugo Panizza & Yue Zhou, 2018. "Investment Gaps in IDB Borrowing Countries," IHEID Working Papers 03-2018, Economics Section, The Graduate Institute of International Studies.
    3. Degl’Innocenti, Marta & Frigerio, Marco & Zhou, Si, 2022. "Development banks and the syndicate structure: Evidence from a world sample," Journal of Empirical Finance, Elsevier, vol. 66(C), pages 99-120.
    4. Broccolini,Chiara & Lotti,Giulia & Maffioli,Alessandro & Presbitero,Andrea F. & Stucchi,Rodolfo Mario, 2020. "Mobilization Effects of Multilateral Development Banks," Policy Research Working Paper Series 9163, The World Bank.
    5. Fleiss, Pablo, 2021. "Multilateral development banks in Latin America: Recent trends, the response to the pandemic, and the forthcoming role," Studies and Perspectives – ECLAC Office in Washington 46916, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    6. Galindo, Arturo & Avellán, Leopoldo & Gómez, Tomás & Lotti, Giulia, 2022. "The Cyclicality of Official Bilateral Lending: Which Cycle do Flows Follow?," IDB Publications (Working Papers) 12643, Inter-American Development Bank.
    7. Bisogno, Marcelo & Fleiss, Pablo & Artecona, Raquel, 2019. "Financing development in Latin America and the Caribbean: The role and perspectives of multilateral development banks," Studies and Perspectives – ECLAC Office in Washington 44608, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    8. Balatti Mozzanica, Mirco & Kose, Ayhan & Mckinnon, Kate Frances & Palombo, Edoardo & Sugawara, Naotaka & Verduzco Bustos, Guillermo & Vorisek, Dana, 2025. "From Tailwinds to Headwinds : Emerging and Developing Economies in the Twenty-First Century," Policy Research Working Paper Series 11169, The World Bank.
    9. Juan Martinez Alvarez & Simon Fernandez‐Vazquez & Jiajun Xu & Rafael Rosillo, 2026. "The Measurement‐Impact Gap: A Bibliometric Diagnosis of Development Finance Institutions and SDG Research," Sustainable Development, John Wiley & Sons, Ltd., vol. 34(1), pages 749-767, February.
    10. Schclarek, Alfredo & Xu, Jiajun, 2022. "Exchange rate and balance of payment crisis risks in the global development finance architecture," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 79(C).
    11. McHugh, Christopher A., 2023. "Competitive conditions in development finance," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 83(C).
    12. Avellán, Leopoldo & Galindo, Arturo J. & Lotti, Giulia, 2021. "Sovereign external borrowing and multilateral lending in crises," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 206-238.
    13. Gurara, Daniel & Presbitero, Andrea & Sarmiento, Miguel, 2020. "Borrowing costs and the role of multilateral development banks: Evidence from cross-border syndicated bank lending," Journal of International Money and Finance, Elsevier, vol. 100(C).
    14. Ka Lok Wong (Steve) & Mark Manger & Ugo Panizza, 2026. "Determinants of Sovereign Bond Issuance in Emerging Markets," IHEID Working Papers 06-2026, Economics Section, The Graduate Institute of International Studies.
    15. Avellán, Leopoldo & Galindo, Arturo J. & Lotti, Giulia, 2022. "Following public finances: The mirage of MDBs countercyclicality," The Quarterly Review of Economics and Finance, Elsevier, vol. 84(C), pages 372-385.
    16. Galindo, Arturo J. & Panizza, Ugo, 2018. "The cyclicality of international public sector borrowing in developing countries: Does the lender matter?," World Development, Elsevier, vol. 112(C), pages 119-135.
    17. Gong, Di & Xu, Jiajun & Yan, Jianye, 2023. "National development banks and loan contract terms: Evidence from syndicated loans," Journal of International Money and Finance, Elsevier, vol. 130(C).

  33. Alfaro, Laura & Asis, Gonzalo & Chari, Anusha & Panizza, Ugo, 2017. "Lessons Unlearned? Corporate Debt in Emerging Markets," CEPR Discussion Papers 12038, Centre for Economic Policy Research.

    Cited by:

    1. Daniel O. Beltran & Keshav Garud & Aaron Rosenblum, 2017. "Emerging Market Nonfinancial Corporate Debt : How Concerned Should We Be?," IFDP Notes 2017-06-01, Board of Governors of the Federal Reserve System (U.S.).
    2. M. Ayhan Kose & Sergio Kurlat & Franziska Ohnsorge & Naotaka Sugawara, 2017. "A Cross-Country Database of Fiscal Space," Koç University-TUSIAD Economic Research Forum Working Papers 1713, Koc University-TUSIAD Economic Research Forum.
    3. Xiaoyu Liu & Xiaoli Chen, 2021. "Can “Concerted” Macroprudential Policies Mitigate Cross‐border Contagion of Financial Risks? Evidence from China and Its Financially Connected Economies," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 29(3), pages 26-54, May.
    4. Santi Novita, 2018. "Industry and Financial Crises in Fragile and Zombie Firms: Does Leverage Matter?," GATR Journals jber157, Global Academy of Training and Research (GATR) Enterprise.
    5. Abraham,Facundo & Cortina Lorente,Juan Jose & Schmukler,Sergio L., 2020. "Growth of Global Corporate Debt : Main Facts and Policy Challenges," Policy Research Working Paper Series 9394, The World Bank.
    6. Yi Huang & Ugo Panizza & Richard Portes, 2018. "Corporate Foreign Bond Issuance and Interfirm Loans in China," NBER Working Papers 24513, National Bureau of Economic Research, Inc.
    7. Valentina Bruno & Hyun Song Shin, 2020. "Currency Depreciation and Emerging Market Corporate Distress," Management Science, INFORMS, vol. 66(5), pages 1935-1961, May.
    8. Frank Ranganai Matenda & Mabutho Sibanda & Eriyoti Chikodza & Victor Gumbo, 2022. "Bankruptcy prediction for private firms in developing economies: a scoping review and guidance for future research," Management Review Quarterly, Springer, vol. 72(4), pages 927-966, December.
    9. Mariya Gubareva & Maria Rosa Borges, 2022. "Governed by the cycle: interest rate sensitivity of emerging market corporate debt," Annals of Operations Research, Springer, vol. 313(2), pages 991-1019, June.
    10. Sur, Abhisek & Nandy, Amarendu & Ray, Partha, 2024. "Does foreign currency borrowing make firms vulnerable? Experience of emerging India," Journal of Policy Modeling, Elsevier, vol. 46(3), pages 530-551.
    11. Kara, Alper & Hacihasanoglu, Yavuz Selim & Unalmis, Deren, 2021. "Financial contagion and the role of firm characteristics," Finance Research Letters, Elsevier, vol. 38(C).
    12. Ryan Banerjee & Boris Hofmann & Aaron Mehrotra, 2022. "Corporate investment and the exchange rate: The financial channel," International Finance, Wiley Blackwell, vol. 25(3), pages 296-312, December.
    13. Jerome H. Powell, 2017. "Prospects for Emerging Market Economies in a Normalizing Global Economy : a speech at the 2017 Annual Membership Meeting of the Institute of International Finance, Washington, D.C., October 12, 2017," Speech 976, Board of Governors of the Federal Reserve System (U.S.).

  34. Ugo Panizza, 2017. "Non-linearities in the Relationship between Finance and Growth," IHEID Working Papers 12-2017, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. Arnold, Lutz G. & Zelzner, Sebastian, 2022. "Financial trading versus entrepreneurship: Competition for talent and negative feedback effects," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 186-199.
    2. Ketteni, Elena & Kottaridi, Constantina, 2019. "Credit market deregulation and economic growth: Further insights using a marginal integration approach," Journal of Macroeconomics, Elsevier, vol. 62(C).
    3. Jean-Louis Arcand & Enrico Berkes & Ugo Panizza, 2026. "Too Much Finance Redux," IHEID Working Papers 04-2026, Economics Section, The Graduate Institute of International Studies.
    4. Valérie Revest & Alessandro Sapio, 2019. "Alternative equity markets and firm creation," Post-Print halshs-02169726, HAL.
    5. Katuala, Hénock M., 2021. "Frictions financières et Dynamique macroéconomique : Examen des régularités cycliques," Dynare Working Papers 66, CEPREMAP.
    6. Valérie Revest & Alessandro Sapio, 2019. "Alternative equity markets and firm creation," Journal of Evolutionary Economics, Springer, vol. 29(3), pages 1083-1118, July.
    7. Mais Sha'ban & Claudia Girardone & Anna Sarkisyan & Thankom Arun, 2023. "On the relationship between financial inclusion and bank performance," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 52(3), November.

  35. Yi Huang & Marco Pagano & Ugo Panizza, 2016. "Public Debt and Private Firm Funding. Evidence from Chinese Cities," EIEF Working Papers Series 1611, Einaudi Institute for Economics and Finance (EIEF), revised Aug 2016.

    Cited by:

    1. Chen, Zhuo & He, Zhiguo & Liu, Chun, 2020. "The financing of local government in China: Stimulus loan wanes and shadow banking waxes," Journal of Financial Economics, Elsevier, vol. 137(1), pages 42-71.
    2. Zhu, Xiaodong, 2021. "The varying shadow of China's banking system," Journal of Comparative Economics, Elsevier, vol. 49(1), pages 135-146.
    3. Francesco D'Acunto & Michael Weber & Jin Xie, 2019. "Punish One, Teach A Hundred: The Sobering Effect of Punishment on the Unpunished," CESifo Working Paper Series 7512, CESifo.
    4. Bo Li & Jacopo Ponticelli, 2020. "Going Bankrupt in China," NBER Working Papers 27501, National Bureau of Economic Research, Inc.
    5. Min Zhang & Yahong Zhang, 2020. "Monetary Stimulus Policy in China: the Bank Credit Channel," Working Papers 2001, University of Windsor, Department of Economics.
    6. Gong Cheng & Javier Diaz-Cassou & Aitor Erce, 2019. "The macroeconomic effects of official debt restructuring: evidence from the Paris Club," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 344-363.
    7. Paolo Canofari & Alessandro Ponte, 2018. "Chinese and European Financial Systems: Instability Drivers and Contagion Channels," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 24(4), pages 311-324, November.
    8. Richard Varghese, 2018. "The Bank Lending Channel A Time-Varying Approach," IHEID Working Papers 10-2018, Economics Section, The Graduate Institute of International Studies.
    9. Yi Huang & Ugo Panizza & Richard Portes, 2018. "Corporate Foreign Bond Issuance and Interfirm Loans in China," NBER Working Papers 24513, National Bureau of Economic Research, Inc.
    10. Song, Zheng (Michael) & Xiong, Wei, 2018. "Risks in China's financial system," BOFIT Discussion Papers 1/2018, Bank of Finland Institute for Emerging Economies (BOFIT).
    11. Yi Huang & Ugo Panizza & Richard Varghese, 2018. "Does Public Debt Crowd Out Corporate Investment? International Evidence," IHEID Working Papers 08-2018, Economics Section, The Graduate Institute of International Studies.
    12. Yi Huang & Marco Pagano & Ugo Panizza, 2020. "Local Crowding‐Out in China," Journal of Finance, American Finance Association, vol. 75(6), pages 2855-2898, December.
    13. Chong-En Bai & Chang-Tai Hsieh & Zheng (Michael) Song, 2016. "The Long Shadow of China’s Fiscal Expansion," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 47(2 (Fall)), pages 129-181.
    14. Zhuo Chen & Zhiguo He & Chun Liu, 2018. "The Financing of Local Government in the People’s Republic of China: Stimulus Loan Wanes and Shadow Banking Waxes," ADBI Working Papers 800, Asian Development Bank Institute.
    15. Guonan Ma & Jinzhao Chen, 2019. "The Role of Internally Financed Capex in Rising Chinese Corporate Debts," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 61(3), pages 413-442, September.
    16. Khan, Muhammad Arshad & Rahman, Abdul & Tareen, Bashir Ahmed, 2025. "Is Pakistan in a debt trap? Do domestic and foreign debts crowd-out private investment?," Journal of Policy Modeling, Elsevier, vol. 47(5), pages 1076-1096.
    17. Jingzhu Chen & Yuemei Ji, 2022. "Is Finance Good for Growth? New Evidence from China," CESifo Working Paper Series 9882, CESifo.
    18. Jingxia Chai & Yu Hao & Haitao Wu & Yuemiao Yang, 2021. "Do constraints created by economic growth targets benefit sustainable development? Evidence from China," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 4188-4205, December.
    19. Bo Li & Jacopo Ponticelli, 2022. "Going Bankrupt in China [The politics of foreclosures]," Review of Finance, European Finance Association, vol. 26(3), pages 449-486.
    20. Markus K. Brunnermeier & Michael Sockin & Wei Xiong, 2017. "China's Gradualistic Economic Approach and Financial Markets," NBER Working Papers 23194, National Bureau of Economic Research, Inc.
    21. Willem Vanlaer & Mattia Picarelli & Wim Marneffe, 2021. "Debt and Private Investment: Does the EU Suffer from a Debt Overhang?," Open Economies Review, Springer, vol. 32(4), pages 789-820, September.
    22. Jiang, Tianyuan & Zhang, Manling & Chen, Jing, 2025. "Demographic shifts and the strategic use of flexible off-budget debt tools," Emerging Markets Review, Elsevier, vol. 66(C).
    23. Lodge, David & Soudan, Michel, 2019. "Credit, financial conditions and the business cycle in China," Working Paper Series 2244, European Central Bank.

  36. Cavallo, Eduardo & Eichengreen, Barry & Panizza, Ugo, 2016. "Can Countries Rely on Foreign Saving for Investment and Economic Development?," CEPR Discussion Papers 11451, Centre for Economic Policy Research.

    Cited by:

    1. Kappel, Robert & Pfeiffer, Birte & Reisen, Helmut, 2017. "Compact with Africa: fostering private long-term investment in Africa," IDOS Discussion Papers 13/2017, German Institute of Development and Sustainability (IDOS).
    2. Uzma Zia, 2025. "Understanding the Factors Behind Low Saving Rates in Pakistan: Insights and Policy Recommendations," PIDE-Working Papers 2025:5, Pakistan Institute of Development Economics.
    3. Karsten Staehr, 2018. "Capital flows and growth dynamics in Central and Eastern Europe," Post-Communist Economies, Taylor & Francis Journals, vol. 30(1), pages 1-18, January.
    4. Arturo O’Connell, 2016. "The EuroZone `Debt’ Crisis: Another `Center’ – `Periphery’ Crisis Under Financial Globalization?," Working Papers Series 51, Institute for New Economic Thinking.
    5. Nell, Kevin, 2023. "Inflation and growth in developing economies: A tribute to Professor Thirlwall," MPRA Paper 118757, University Library of Munich, Germany, revised 01 Sep 2023.
    6. Shibata, Akihisa & Shintani, Mototsugu & Tsuruga, Takayuki, 2019. "Current account dynamics under information rigidity and imperfect capital mobility," Journal of International Money and Finance, Elsevier, vol. 92(C), pages 153-176.
    7. José Daniel Aromí, 2021. "Large Current Account Deficits and Neglected Vulnerabilities," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(4), pages 597-623, December.
    8. Hansen, Erwin & Wagner, Rodrigo, 2022. "The reinvestment by multinationals as a capital flow: Crises, imbalances, and the cash-based current account," Journal of International Money and Finance, Elsevier, vol. 124(C).
    9. Jorg Bibow, 2019. "Evolving International Monetary and Financial Architecture and the Development Challenge: A Liquidity Preference Theoretical Perspective," Economics Working Paper Archive wp_935, Levy Economics Institute.
    10. Nik Azman, Nik Hadiyan & Md Zabri, Mohd Zaidi & Zull Kepili, Ema Izati, 2021. "Nexus between Islamic Microfinancing and Financial Wellbeing of Micro-Entrepreneurs during the Covid-19 Pandemic in Malaysia," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 55(1), pages 135-146.

  37. Huang, Yi & Pagano, Marco & Panizza, Ugo, 2016. "Local Crowding Out in China," CEPR Discussion Papers 11489, Centre for Economic Policy Research.

    Cited by:

    1. Chen, Haiqiang & Lin, Zhe, 2024. "Local fiscal pressure and shadow banking activities of nonfinancial enterprises–A story of government intervention," Finance Research Letters, Elsevier, vol. 62(PB).
    2. Caner, Mehmet & Fan, Qingliang & Grennes, Thomas, 2021. "Partners in debt: An endogenous non-linear analysis of the effects of public and private debt on growth," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 694-711.
    3. Jason Taylor & Wenjun Xue & Hakan Yilmazkuday, 2020. "The Impact of China's Fiscal and Monetary Policy Responses to the Great Recession: An Analysis of Firm-Level Chinese Data," Working Papers 2002, Florida International University, Department of Economics.
    4. Liang, Quanxi & Huang, Jinlan & Liang, Mingjun & Li, Jingxiang, 2024. "Economic growth targets and bank risk exposure: Evidence from China," Economic Modelling, Elsevier, vol. 135(C).
    5. Stewen, Iryna & Hoffmann, Mathias & Stiefel, Michael, 2021. "Growing Like Germany: Local Public Debt, Local Banks, Low Private Investment," CEPR Discussion Papers 15912, Centre for Economic Policy Research.
    6. Hau, Harald & Ouyang, Difei, 2024. "Can real estate booms hurt firms? Evidence on investment substitution," Journal of Urban Economics, Elsevier, vol. 144(C).
    7. Wang, He & Yao, Yang & Zhou, Yue, 2022. "Markets price politicians: Evidence from China’s municipal bond markets," Journal of Economics and Business, Elsevier, vol. 122(C).
    8. Wanting Zhang & Ning Ding & Shidi Dong & Hong Yue, 2026. "Does Long‐Term Local Government Debt Destabilize Corporate Stock Prices? Empirical Evidence From China," Economics and Politics, Wiley Blackwell, vol. 38(2), pages 575-597, July.
    9. Fan, Jianyong & Liu, Yu & Zhang, Qi & Zhao, Peng, 2022. "Does government debt impede firm innovation? Evidence from the rise of LGFVs in China," Journal of Banking & Finance, Elsevier, vol. 138(C).
    10. Shi, Mengyu & Xu, Qiong & Shi, Yu & Yan, Jiamin, 2026. "Digital transformation and enterprise mergers and acquisitions: Mechanism tests and empirical evidence," Economic Modelling, Elsevier, vol. 158(C).
    11. Chen, Zhuo & He, Zhiguo & Liu, Chun, 2020. "The financing of local government in China: Stimulus loan wanes and shadow banking waxes," Journal of Financial Economics, Elsevier, vol. 137(1), pages 42-71.
    12. Djeneba Dramé & Florian Léon, 2025. "Do firms react to monetary policy in developing countries? [European Economic Review]," Post-Print hal-05172185, HAL.
    13. Mindaugas Butkus & Diana Cibulskiene & Lina Garsviene & Janina Seputiene, 2021. "Empirical Evidence on Factors Conditioning the Turning Point of the Public Debt–Growth Relationship," Economies, MDPI, vol. 9(4), pages 1-22, December.
    14. Yuchao Meng & Jing Hu, 2025. "Does China’s Low-Carbon City Pilot Facilitate Firm Productivity? An Analysis of Industrial Firms," Sustainability, MDPI, vol. 17(3), pages 1-26, February.
    15. Feng, Xu & Lütkebohmert, Eva & Xiao, Yajun, 2022. "Wealth management products, banking competition, and stability: Evidence from China," Journal of Economic Dynamics and Control, Elsevier, vol. 137(C).
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    17. Huang, Jianye & Li, Yuting & Wang, Shuai & Zhang, Jingkun, 2024. "Tax credits for employee education expenses and firm-specific human capital accumulation: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    18. Zhou, Xi & Xiao, Min & Wu, Huiying & You, Jiaxing, 2024. "Does policy uncertainty travel across borders? Evidence from MNC subsidiary investment decisions," Journal of Banking & Finance, Elsevier, vol. 163(C).
    19. Zhu, Xiaodong, 2021. "The varying shadow of China's banking system," Journal of Comparative Economics, Elsevier, vol. 49(1), pages 135-146.
    20. Li, Donghui & Sun, Jian & Xu, Rui & Yuan, Chun & Zhu, Liyi, 2026. "Air pollution and bank loan pricing," Journal of Banking & Finance, Elsevier, vol. 185(C).
    21. Dramé, Djeneba & Léon, Florian, 2025. "Do firms react to monetary policy in developing countries?," European Economic Review, Elsevier, vol. 178(C).
    22. Tong, Zefeng & Liu, Jia & Kong, Dongmin & Qi, Yu & Zhou, Fei, 2025. "Disappearing position-related consumption: Firm bribery and government-firm reciprocity," International Review of Economics & Finance, Elsevier, vol. 101(C).
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    26. Francesco D'Acunto & Michael Weber & Jin Xie, 2019. "Punish One, Teach A Hundred: The Sobering Effect of Punishment on the Unpunished," CESifo Working Paper Series 7512, CESifo.
    27. Dos Santos, Amanda, 2026. "The Development of Domestic Bond Markets," SocArXiv 9he6d_v1, Center for Open Science.
    28. Ana Paula Cusolito & Roberto N. Fattal Jaef & Fausto Andres Patino Pena & Singh,Akshat Vikram, 2024. "The Financial Premium and Real Cost of Bureaucrats in Businesses," Policy Research Working Paper Series 10929, The World Bank.
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    32. Bo Li & Jacopo Ponticelli, 2020. "Going Bankrupt in China," NBER Working Papers 27501, National Bureau of Economic Research, Inc.
    33. Wang, Dan & Si, Deng-Kui & Shen, Chunming, 2026. "Does local government debt management promote corporate total factor productivity? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 89(C), pages 214-227.
    34. Siying Wang & Haiqing Hu & Xianzhu Wang, 2024. "Green entrepreneurship orientation and environmental, social, and governance performance: Do contractual strategic alliances matter?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(6), pages 5275-5295, November.
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    36. Fabio Braggion & Alberto Manconi & Haikun Zhu, 2023. "Household Credit and Regulatory Arbitrage: Evidence from Online Marketplace Lending," Management Science, INFORMS, vol. 69(10), pages 6271-6292, October.
    37. Huang, Shuo, 2022. "The unintended consequence of local government debt: evidence from stock price crash risk," Finance Research Letters, Elsevier, vol. 50(C).
    38. Zou, Yanchi, 2024. "The impact of fiscal stimulus on employment: Evidence from China’s four-trillion RMB package," Economic Modelling, Elsevier, vol. 131(C).
    39. Yubin Huangfu & Haibo Yu & Zuoji Dong & Yingman Wang, 2024. "Research on the Risk Spillover among the Real Economy, Real Estate Market, and Financial System: Evidence from China," Land, MDPI, vol. 13(6), pages 1-26, June.
    40. Joao Paulo Rios e Silva & Elano Ferreira Arruda, 2025. "A Note on the Relationship between Public and Private Investment in Brazil," Applied Economics and Finance, Redfame publishing, vol. 12(2), pages 1-9, May.
    41. Liu, Qiang & Mao, Yidan & Zhang, Yefeng & Xiong, Zhengling, 2025. "Targeted fiscal policy and corporate investment: Evidence from the special bonds in China," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    42. Kang, Shulong & Dong, Jianfeng & Yu, Haiyue & Cao, Jin & Dinger, Valeriya, 2021. "City commercial banks and credit allocation: Firm-level evidence," BOFIT Discussion Papers 4/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
    43. Zia, Sidra & Song, Lin & Alkebsee, Radwan & Alhebri, Adeeb, 2026. "Facilitating or crowding out? The role of local government debt in green bond issuance," Finance Research Letters, Elsevier, vol. 92(C).
    44. Junhong Yang, & Alessandra Guariglia & Yuchao Peng & Yukun Shi, 2020. "Inventory investment and the choice of financing: Does financial development play a role?," Discussion Papers 2020-14, University of Nottingham, GEP.
    45. Zhao, Yapeng & Tan, Yuyan & Hou, Xuelei, 2026. "Judicial specialization and SME capital efficiency: The role of financial courts reform," Pacific-Basin Finance Journal, Elsevier, vol. 97(C).
    46. Bernardo Morais & José-Luis Peydró & Claudia Ruiz-Ortega, 2021. "Expansionary Austerity: Reallocating Credit Amid Fiscal Consolidation," International Finance Discussion Papers 1323, Board of Governors of the Federal Reserve System (U.S.).
    47. Chen, Sophia & Ratnovski, Lev & Tsai, Pi-Han, 2021. "Credit and fiscal multipliers in China: Evidence from a political economy based estimation," Journal of International Money and Finance, Elsevier, vol. 119(C).
    48. Yang, Xin & Wang, Xuya & Cao, Jie & Song, Linjia & Huang, Chuangxia, 2024. "Can local government implicit debt raise regional financial market spillover? Evidence from China," Finance Research Letters, Elsevier, vol. 67(PA).
    49. Xie, Hongji & Tian, Cunzhi & Wu, Yuanlin, 2024. "Quid pro quo? Local government debt and corporate tax avoidance," The British Accounting Review, Elsevier, vol. 56(5).
    50. Wen, Xi & Li, Wanli & Shen, Zhixuan, 2024. "Local government debt and corporate asset-debt maturity mismatches: Evidence from China," China Economic Review, Elsevier, vol. 88(C).
    51. Min Zhang & Yahong Zhang, 2020. "Monetary Stimulus Policy in China: the Bank Credit Channel," Working Papers 2001, University of Windsor, Department of Economics.
    52. Shi, Luqing & Yin, Zhujia & Zhang, Yun & Song, Linjia & Yang, Xin, 2025. "Regional financial risk and firms' access to trade credit: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
    53. Xiong, Jiacai & Huang, Ling & Wang, Xin & Bai, Martin & Qin, Yafeng, 2024. "Local government fiscal stress and regional entrepreneurship: Evidence from a natural experiment in China," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 177-193.
    54. Gong Cheng & Javier Diaz-Cassou & Aitor Erce, 2019. "The macroeconomic effects of official debt restructuring: evidence from the Paris Club," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 344-363.
    55. Liu, Haiming & Zhang, Cuiyan, 2026. "The impact of local government debt on leverage adjustment speed: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 109(C).
    56. Kose,Ayhan & Ohnsorge,Franziska Lieselotte & Sugawara,Naotaka, 2021. "A Mountain of Debt : Navigating the Legacy of the Pandemic," Policy Research Working Paper Series 9800, The World Bank.
    57. Li, Xiaoming & Liu, Zheng & Peng, Yuchao & Xu, Zhiwei, 2021. "Bank risk-taking and monetary policy transmission: Evidence from China," BOFIT Discussion Papers 15/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
    58. Paolo Canofari & Alessandro Ponte, 2018. "Chinese and European Financial Systems: Instability Drivers and Contagion Channels," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 24(4), pages 311-324, November.
    59. Deng, Kaihua & Fu, Qilong & Huang, Dongxia, 2025. "Soft going-concern capital buffer? CoCo non-calls and revealed bank distress," Journal of Corporate Finance, Elsevier, vol. 93(C).
    60. Qin, Ni & Wang, Qiyao & Xiong, Zihan & Zeng, Junwei, 2026. "Banking integration and corporate investment on human capital: Evidence from China's urban commercial bank mergers," Pacific-Basin Finance Journal, Elsevier, vol. 99(C).
    61. Weixiang Zhao & Yankun Xu, 2022. "Public Expenditure and Green Total Factor Productivity: Evidence from Chinese Prefecture-Level Cities," IJERPH, MDPI, vol. 19(9), pages 1-27, May.
    62. Zhifeng Wang & Xuening Ge & Yunxia He & Shuting Li, 2023. "Has the Reform of Land Reserve Financing Policy Reduced the Local Governments’ Implicit Debt?," Land, MDPI, vol. 12(11), pages 1-21, November.
    63. Guan, Xinghua & Han, Ruixue & Mao, Jie, 2026. "Guarantee networks and financial resource allocation: Firm-level evidence from China," Journal of Asian Economics, Elsevier, vol. 102(C).
    64. Yuanlin Wu & Cunzhi Tian & Guannan Wang, 2023. "Local Government Debt and Corporate Investment Behavior in China: Real versus Financial Investment," Sustainability, MDPI, vol. 15(22), pages 1-22, November.
    65. Wang, Wenlong & Huang, Yuqin & Watson, John & Yang, Bowen, 2023. "The intra-regional spillover effects of bond defaults: Evidence from the Chinese corporate debt market," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
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    67. Dagostino, Ramona, 2025. "The impact of bank financing on municipalities’ bond issuance and the real economy," Journal of Financial Economics, Elsevier, vol. 166(C).
    68. Liu, Jingyang & Yang, Haoran, 2023. "Income allocation and distribution along with high-speed rail development in China," Transportation Research Part A: Policy and Practice, Elsevier, vol. 175(C).
    69. Zhang, Jianping & Xu, Runda & Chen, Jie, 2024. "Does industrial land marketization reform faciliate urban land use efficiency?," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    70. Kose,Ayhan & Ohnsorge,Franziska Lieselotte & Reinhart,Carmen M. & Rogoff,Kenneth S., 2021. "The Aftermath of Debt Surges," Policy Research Working Paper Series 9771, The World Bank.
    71. Braggion, Fabio & Manconi, Alberto & Zhu, Haikun, 2023. "Household credit and regulatory arbitrage: Evidence from online marketplace lending," Other publications TiSEM 9fbc0f2e-26f5-414f-8384-c, Tilburg University, School of Economics and Management.
    72. Ettore Croci & Marta Degl’Innocenti & Si Zhou, 2026. "Banking competition and gender bank debt bias: evidence from Chinese SMEs," Small Business Economics, Springer, vol. 66(2), pages 923-948, February.
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    74. Pan, Lin & Huang, Kun & Wang, Zhili, 2025. "Local government debt and corporate stock liquidity: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    75. Islam, Asif M. & Nguyen, Ha, 2026. "Distributional crowding out effects of public debt on private investment in developing economies," Journal of International Money and Finance, Elsevier, vol. 164(C).
    76. Jing, Zhongbo & Liu, Wei & Wang, Zexi & Wei, Lu & Zhang, Xuan, 2024. "Does local government debt regulation improve rural banks’ performance? Evidence from China," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    77. Zeng, Shuai & Luo, Changyuan & Zhao, Laixun, 2023. "Destination trade credit and exports: Evidence from cross-country panel data," Journal of International Money and Finance, Elsevier, vol. 137(C).
    78. Ouyang, Difei, 2024. "State-owned enterprise presence: Local spillovers," China Economic Review, Elsevier, vol. 84(C).
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    229. Liu, Xiaoxia & Li, Minghui, 2026. "State-owned capital participation and deleveraging of over-indebted private-owned enterprises: Evidence from China," Emerging Markets Review, Elsevier, vol. 73(C).
    230. Qiong Zhou & Qian Tan & Huixiang Zeng & Yu-En Lin & Peng Zhu, 2023. "Does Soil Pollution Prevention and Control Promote Corporate Sustainable Development? A Quasi-Natural Experiment of “10-Point Soil Plan” in China," Sustainability, MDPI, vol. 15(5), pages 1-20, March.
    231. Jiang, Tianyuan & Zhang, Manling & Chen, Jing, 2025. "Demographic shifts and the strategic use of flexible off-budget debt tools," Emerging Markets Review, Elsevier, vol. 66(C).
    232. Kong Wang & Minggui Yu & Tingting Xie, 2025. "Contagion Effects of Local Government Debt Risks: An Event Study Based on the Default of LGFV's Non‐Standard Debt," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 65(5), pages 4473-4486, December.
    233. Du, Julan & Li, Chang & Wang, Yongqin, 2023. "Shadow banking of non-financial firms: Arbitrage between formal and informal credit markets in China," Journal of Financial Intermediation, Elsevier, vol. 55(C).
    234. Yin, Liang & Hu, Shiyang & Yan, Huijun, 2025. "Local government implicit debt and corporate bankruptcy: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 107(C).
    235. Lodge, David & Soudan, Michel, 2019. "Credit, financial conditions and the business cycle in China," Working Paper Series 2244, European Central Bank.
    236. Ming Lu & Huiyong Zhong, 2018. "Eurozonization of the Chinese Economy: How Do Intergovernmental Transfers Affect Local Government Debt in China?," Asian Economic Papers, MIT Press, vol. 17(1), pages 1-18, Winter/Sp.
    237. Gao, Haoyu & Ru, Hong & Tang, Dragon Yongjun, 2021. "Subnational debt of China: The politics-finance nexus," Journal of Financial Economics, Elsevier, vol. 141(3), pages 881-895.
    238. Du, Xingqiang & Yu, Rui & Zeng, Quan & Zhang, Yiqi & Zhang, Yongkui, 2026. "Does hypocrisy trigger a higher cost of debt? Evidence from China," The British Accounting Review, Elsevier, vol. 58(3).
    239. Qingjun Zhang & Zhishang Zhao & Sijia Fan, 2025. "Implicit guarantee expectations and regional financial risks: a counterfactual estimation perspective based on municipal bonds," Economic Change and Restructuring, Springer, vol. 58(2), pages 1-40, April.
    240. Ye, Yongwei & Kong, Dongmin & Li, Renzhi & Li, Xiaofan & Tao, Yunqing, 2024. "Online judicial auction, loan availability, and corporate investment in China," The British Accounting Review, Elsevier, vol. 56(6).
    241. Wu, Haijun & Yang, Jidong & Yang, Qijing, 2021. "The pressure of economic growth and the issuance of Urban Investment Bonds: Based on panel data from 2005 to 2011 in China," Journal of Asian Economics, Elsevier, vol. 76(C).
    242. Chen, Haiqiang & Lin, Zhe, 2025. "Local fiscal pressure and new firm entry," International Review of Financial Analysis, Elsevier, vol. 99(C).
    243. Ning Han & Huiyan Guo & Weitao Diao, 2024. "Spatial Interaction of Local Government Debt: Evidence from China," Sustainability, MDPI, vol. 16(8), pages 1-20, April.
    244. Chen, Yu & Xu, Changsheng & Chen, Zhenyu & Hu, Yang, 2026. "The impact of local government debt governance on cross-regional investment," International Review of Economics & Finance, Elsevier, vol. 108(C).
    245. Cao, Mingyao & Duan, Keyi & Ibrahim, Haslindar, 2025. "Constraining effects of local government debt on bank loan growth," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 371-382.
    246. Junxue Jia & Jia Gu & Guangrong Ma, 2021. "Real Estate Boom and Firm Productivity: Evidence from China," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(5), pages 1218-1242, October.
    247. Zhang, Jingxue & Yu, Shiwei & Zhang, Yue-Jun & Su, Bin & Sun, Ya-Fang, 2025. "How do renewable energy policies affect energy green development? Evidence from Chinese listed energy firms," Energy Economics, Elsevier, vol. 142(C).
    248. Li, Jie & Lu, Liping & Wu, Jin & Zhou, Tianhang, 2026. "Deregulation and bank stability: Evidence from loan-to-deposit ratio requirement in China," Journal of Corporate Finance, Elsevier, vol. 98(C).
    249. Si, Deng-Kui & Li, Hong-Xue & Wu, Shilei & Zhou, Fuyou, 2024. "Does local government debt management affect cross-border M&As? Evidence from China," Economic Modelling, Elsevier, vol. 141(C).
    250. Xin Liu & Yongzheng Liu, 2021. "Land lease revenue windfalls and local tax policy in China," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 28(2), pages 405-433, April.
    251. Ting Liu & Shaoqing Kang & Lihong Wang, 2024. "The externality of politically connected directors’ resignations on peers’ cost of debt," Review of Quantitative Finance and Accounting, Springer, vol. 62(3), pages 1191-1221, April.

  38. Ugo PANIZZA, 2015. "Debt Sustainability in Low-Income Countries - The Grants versus Loans Debate in a World without Crystal Balls," Working Papers P120, FERDI.

    Cited by:

    1. Ugo Panizza, 2022. "Long-Term Debt Sustainability in Emerging Market Economies: A Counterfactual Analysis," IHEID Working Papers 07-2022, Economics Section, The Graduate Institute of International Studies.
    2. Danny Cassimon & Dennis Essers & Karel Verbeke, 2016. "The IMF-WB Debt Sustainability Framework: Procedures, Applications and Criticisms," BeFinD Policy Briefs 3, University of Namur, Department of Economics.

  39. Luis Gonzalo Llosa & Ugo Panizza, 2015. "Peru’s Great Depression A Perfect Storm?," Working Papers 45, Peruvian Economic Association.

    Cited by:

    1. Alex Coad & Gregory Scott, 2018. "High-growth firms in Peru," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 37(75), pages 671-696.

  40. Ugo Panizza, 2015. "Billions on the Sidewalk: Improving Savings by Reducing Investment Mistakes," IHEID Working Papers 18-2015, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. Beckmann, Elisabeth & Mare, Davide Salvatore, 2017. "Formal and informal household savings: how does trust in financial institutions influence the choice of saving instruments?," MPRA Paper 81141, University Library of Munich, Germany.

  41. Caballero, Julian & Panizza, Ugo & Powell, Andrew, 2015. "The second wave of global liquidity: Why are firms acting like financial intermediaries?," CEPR Discussion Papers 10926, Centre for Economic Policy Research.

    Cited by:

    1. Shekhar Hari Kumar & Aakriti Mathur, 2020. "A fistful of dollars: Transmission of global funding shocks to EMs," IHEID Working Papers 04-2020, Economics Section, The Graduate Institute of International Studies, revised 08 Feb 2021.
    2. Pérez Artica, Dr. Rodrigo & Rabinovich, Dr. Joel & Zeolla, Dr. Nicolás Hernán, 2026. "Beyond carry-trading: New insights into the uses of foreign-denominated bond issuances by Latin American firms," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 7(2).
    3. Charles W. Calomiris & Mauricio Larrain & Sergio L. Schmukler, 2018. "Capital Inflows, Equity Issuance Activity, and Corporate Investment," NBER Working Papers 24433, National Bureau of Economic Research, Inc.
    4. Laura Alfaro & Gonzalo Asis & Anusha Chari & Ugo Panizza, 2017. "Lessons Unlearned? Corporate Debt in Emerging Markets," NBER Working Papers 23407, National Bureau of Economic Research, Inc.
    5. Gutierrez, Bryan & Ivashina, Victoria & Salomao, Juliana, 2023. "Why is dollar debt Cheaper? Evidence from Peru," Journal of Financial Economics, Elsevier, vol. 148(3), pages 245-272.
    6. Carlos Felipe Jaramillo & Daniel Lederman & Maurizio Bussolo & David Gould & Andrew Mason, 2006. "Challenges of CAFTA : Maximizing the Benefits for Central America," World Bank Publications - Books, The World Bank Group, number 7127.
    7. I. Giraldo & Turner P, 2022. "The dollar debt of companies in Latin America: the warning signs," Documentos de trabajo 20025, FLAR.
    8. Remberto Rhenals M. & Elkin Castano & Hugo López, 2004. "La reforma laboral de 2002 y sus impactos: in medio stat virtus," Perfil de Coyuntura Económica, Universidad de Antioquia, CIE.
    9. Acharya, Viral & Vij, Siddharth, 2020. "Foreign Currency Borrowing of Corporations as Carry Trades: Evidence from India," CEPR Discussion Papers 15440, Centre for Economic Policy Research.
    10. Damiano Sandri & Paolo Cavallino, 2016. "The Expansionary Lower Bound: Currency Mismatches and Monetary Spillovers," 2016 Meeting Papers 1250, Society for Economic Dynamics.
    11. Philippe Bacchetta & Rachel Cordonier & Ouarda Merrouche, 2021. "The rise in foreign currency bonds: the role of US monetary policy and capital controls," Working Papers 2021-11, Swiss National Bank.
    12. Chen, Su & Yin, Lu, 2022. "Why do firms issue U.S. dollar bond abroad? Evidence from Chinese non-financial listed corporations," Research in International Business and Finance, Elsevier, vol. 60(C).
    13. Chang, Roberto & Fernández, Andrés & Gulan, Adam, 2016. "Bond finance, bank credit, and aggregate fluctuations in an open economy," Bank of Finland Research Discussion Papers 22/2016, Bank of Finland.
    14. Paolo Cavallino & Mr. Damiano Sandri, 2018. "The Expansionary Lower Bound: Contractionary Monetary Easing and the Trilemma," IMF Working Papers 2018/236, International Monetary Fund.
    15. Daniel O. Beltran & Keshav Garud & Aaron Rosenblum, 2017. "Emerging Market Nonfinancial Corporate Debt : How Concerned Should We Be?," IFDP Notes 2017-06-01, Board of Governors of the Federal Reserve System (U.S.).
    16. Signe Krogstrup & Cédric Tille, 2016. "On the roles of different foreign currencies in European bank lending," Working Papers 2016-07, Swiss National Bank.
    17. Orlando Gracia & Hernando Zuleta, 2005. "The Free Trade Agreement between Colombia and USA: What can happen to Colombia?," DEGIT Conference Papers c010_023, DEGIT, Dynamics, Economic Growth, and International Trade.
    18. Facundo Abraham & Juan J. Cortina & Sergio L. Schmukler, 2021. "The Expansion of Corporate Bond Markets in East Asia and Latin America," Economic Growth Centre Working Paper Series 2101, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
    19. Mohapatra, Sanket & Nagar, Jay Prakash, 2020. "Foreign Currency Borrowing and Firm Financing Constraints in Emerging Markets: Evidence from India," IIMA Working Papers WP 2020-08-01, Indian Institute of Management Ahmedabad, Research and Publication Department.
    20. Toro González, Daniel & Doria, Martha, 2007. "La Curva de Laffer y la optimización del recaudo tributario en Cartagena de Indias [The Laffer Courve and government optimization of the tax revenues: The Cartagena de Indias case]," MPRA Paper 2703, University Library of Munich, Germany.
    21. Abraham,Facundo & Cortina Lorente,Juan Jose & Schmukler,Sergio L., 2020. "Growth of Global Corporate Debt : Main Facts and Policy Challenges," Policy Research Working Paper Series 9394, The World Bank.
    22. Stephanie Guichard, 2017. "10 Years after the Global Financial Crisis: What Have We Learnt About International Capital Flows?," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 8(03), pages 1-30, October.
    23. Ramon Moreno & José María Serena Garralda, 2018. "Firms' credit risk and the onshore transmission of the global financial cycle," BIS Working Papers 712, Bank for International Settlements.
    24. Yi Huang & Ugo Panizza & Richard Portes, 2018. "Corporate Foreign Bond Issuance and Interfirm Loans in China," NBER Working Papers 24513, National Bureau of Economic Research, Inc.
    25. Daniel Carvalho & Etienne Lepers & Rogelio Jr Mercado, 2021. "Taming the "Capital Flows-Credit Nexus": A Sectoral Approach," Trinity Economics Papers tep0921, Trinity College Dublin, Department of Economics.
    26. Andrea Fabiani & Martha López & José-Luis Peydró & Paul E. Soto, 2021. "Capital Controls, Domestic Macroprudential Policy and the Bank Lending Channel of Monetary Policy," Borradores de Economia 1162, Banco de la Republica de Colombia.
    27. Lin, Shu & Xiao, Jinchuan & Ye, Haichun, 2020. "Disguised carry trade and the transmission of global liquidity shocks: Evidence from China’s goods trade data," Journal of International Money and Finance, Elsevier, vol. 104(C).
    28. Diana Ayala & Milan Nedeljkovic & Christian Saborowski, 2017. "What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies," CESifo Working Paper Series 6376, CESifo.
    29. Cavallino, Paolo & Sandri, Damiano, 2020. "The Open-Economy ELB: Contractionary Monetary Easing and the Trilemma," CEPR Discussion Papers 14683, Centre for Economic Policy Research.
    30. Homma, Yasutake & Suzuki, Katsushi, 2025. "Carry trade behavior by non-US banks," Research in International Business and Finance, Elsevier, vol. 73(PA).
    31. Abraham, Facundo & Cortina, Juan J. & Schmukler, Sergio L., 2021. "The rise of domestic capital markets for corporate financing: Lessons from East Asia," Journal of Banking & Finance, Elsevier, vol. 122(C).
    32. Bruno Bonizzi, 2017. "International financialisation, developing countries and the contradictions of privatised Keynesianism," Economic and Political Studies, Taylor & Francis Journals, vol. 5(1), pages 21-40, January.
    33. Maria Borga & Cecilia Caliandro, 2020. "Eliminating the Pass-Through: Towards FDI Statistics That Better Capture the Financial and Economic Linkages between Countries," NBER Chapters, in: Challenges of Globalization in the Measurement of National Accounts, pages 103-151, National Bureau of Economic Research, Inc.
    34. Huang, Anni & Kishor, N. Kundan, 2017. "The Rise of Dollar Credit in Emerging Market Economies and US Monetary Policy," MPRA Paper 83474, University Library of Munich, Germany.
    35. Liliana Rojas-Suarez, 2002. "Towards a Sustainable FTAA: DOes Latin America Meet the Necessary Financial Preconditions?," Working Paper Series WP02-4, Peterson Institute for International Economics.
    36. Maria Borga & Cecilia Caliandro, 2018. "Eliminating the Pass-Through: Towards FDI Statistics that Better Capture the Financial and Economic Linkages between Countries," NBER Working Papers 25029, National Bureau of Economic Research, Inc.
    37. Bryan Hardy & Felipe Saffie, 2019. "From carry trades to trade credit: financial intermediation by non-financial corporations," BIS Working Papers 773, Bank for International Settlements.
    38. Cheng, Jiameng & Dai, Yanke, 2020. "Is bitcoin a channel of capital inflow? Evidence from carry trade activity," International Review of Economics & Finance, Elsevier, vol. 66(C), pages 261-278.
    39. Minsuk Kim, 2019. "Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence," IMF Working Papers 2019/168, International Monetary Fund.
    40. Joel Rabinovich & Rodrigo Perez Artica, 2020. "Cash holdings and the financialisation of Latin American nonfinancial corporations," Working Papers hal-02474321, HAL.
    41. Mr. Atish R. Ghosh & Mahvash S Qureshi, 2016. "What’s In a Name? That Which We Call Capital Controls," IMF Working Papers 2016/025, International Monetary Fund.
    42. Graciela L. Kaminsky, 2019. "Boom-Bust Capital Flow Cycles," NBER Working Papers 25890, National Bureau of Economic Research, Inc.
    43. Tatiana Cesaroni & Riccardo Bonis & Luigi Infante, 2018. "Firms’ financial surpluses in advanced economies: the role of net foreign direct investments," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 35(3), pages 1055-1080, December.
    44. Michael Chui & Emese Kuruc & Philip Turner, 2016. "A new dimension to currency mismatches in the emerging markets - non-financial companies," BIS Working Papers 550, Bank for International Settlements.
    45. Tatiana Cesaroni & Riccardo De Bonis & Luigi Infante, 2017. "On the determinants of firms’ financial surpluses and deficits," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Statistical implications of the new financial landscape, volume 43, Bank for International Settlements.
    46. Signe Krogstrup & Cédric Tille, 2018. "Foreign Currency Bank Funding and Global Factors," IMF Working Papers 2018/097, International Monetary Fund.
    47. Huang, Anni & Kishor, N. Kundan, 2017. "Corporate Overseas Debt Issuance in the Context of Global Liquidity Transmission," MPRA Paper 83476, University Library of Munich, Germany.
    48. Ayala, Diana & Nedeljkovic, Milan & Saborowski, Christian, 2016. "What slice of the pie? The corporate bond market boom in emerging economies," BOFIT Discussion Papers 8/2016, Bank of Finland Institute for Emerging Economies (BOFIT).
    49. Banti, Chiara & Bose, Udichibarna, 2024. "Shifts in global credit and corporate access to finance," Journal of Financial Stability, Elsevier, vol. 74(C).
    50. Laura Alfaro & Gonzalo Asis & Anusha Chari & Ugo Panizza, 2019. "Corporate Debt, Firm Size and Financial Fragility in Emerging Markets," NBER Working Papers 25459, National Bureau of Economic Research, Inc.
    51. Ceyla Pazarbasioglu-Dutz & Steen Byskov & Marco Bonomo & Igor Carneiro & Bruno Martins & Adriana Perez, 2017. "Brazil Financial Intermediation Costs and Credit Allocation," World Bank Publications - Reports 26401, The World Bank Group.
    52. De Gregorio, José & Jara, Mauricio, 2024. "The boom of corporate debt in emerging markets: Carry trade or save to invest?," Journal of International Economics, Elsevier, vol. 148(C).
    53. Jörg Bibow, 2019. "Zur US Dollar Hegemonie: Ein Blick zurück - und in die Zukunft," FMM Working Paper 48-2019, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

  42. Enrico Berkes & Ugo Panizza & Jean Louis Arcand, 2015. "Too Much Finance or Statistical Illusion: A Comment," IHEID Working Papers 12-2015, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. Oro, Oro Ufuo & Alagidede, Paul, 2018. "The Nature of the finance–growth relationship: Evidence from a panel of oil-producing countries," Economic Analysis and Policy, Elsevier, vol. 60(C), pages 89-102.
    2. Fagerberg, Jan & Srholec, Martin, 2015. "Global Dynamics, Capabilities and the Crisis," Papers in Innovation Studies 2015/33, Lund University, CIRCLE - Centre for Innovation Research.
    3. Christopher F Baum & Mustafa Caglayan & Bing Xu, 2017. "The Impact of Uncertainty on Financial Institutions," Boston College Working Papers in Economics 939, Boston College Department of Economics, revised 20 Sep 2018.
    4. Liu, Guan-Chun & Lee, Chien-Chiang & Lee, Chi-Chuan, 2016. "The nexus between insurance activity and economic growth: A bootstrap rolling window approach," International Review of Economics & Finance, Elsevier, vol. 43(C), pages 299-319.
    5. E. Ninlias & G. Torre, 2017. "Euro banknotes and coins in France in 2016," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 47, pages 5-14, Autumn.
    6. Donatella Baiardi & Claudio Morana, 2015. "Financial deepening and income distribution inequality in the euro area," CeRP Working Papers 153, Center for Research on Pensions and Welfare Policies, Turin (Italy).
    7. Benczur, Peter & Karagiannis, Stylianos & Kvedaras, Virmantas, 2017. "Finance and economic growth: financing structure and non-linear impact," JRC Working Papers in Economics and Finance 2017-07, Joint Research Centre, European Commission.
    8. Valerie Revest & Alessandro Sapio, 2016. "The creation function of a junior listing venue: An empirical test on the Alternative Investment Market," LEM Papers Series 2016/32, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    9. Albuquerque de Sousa, José & Beck, Thorsten & van Bergeijk, Peter A.G. & Van Dijk, Mathijs, 2016. "Nascent markets: Understanding the success and failure of new stock markets," CEPR Discussion Papers 11604, Centre for Economic Policy Research.
    10. Dombi, Akos & Grigoriadis, Theocharis, 2017. "Ancestry, Diversity & Finance: Evidence from Transition Economies," Discussion Papers 2017/4, Free University Berlin, School of Business & Economics.
    11. Hou, Han & Cheng, Su-Yin, 2017. "The dynamic effects of banking, life insurance, and stock markets on economic growth," Japan and the World Economy, Elsevier, vol. 41(C), pages 87-98.
    12. Beck, Thorsten & Chen, Tao & Lin, Chen & Song, Frank M., 2016. "Financial innovation: The bright and the dark sides," Journal of Banking & Finance, Elsevier, vol. 72(C), pages 28-51.
    13. Luintel, Kul B & Li, GuangJie & Khan, Mosahid, 2023. "Finance And Growth: The Unpleasant Burden Of Evidence," Cardiff Economics Working Papers E2023/8, Cardiff University, Cardiff Business School, Economics Section.
    14. Florian Léon, 2016. "Enterprise credit, household credit and growth: New evidence from 126 countries," DEM Discussion Paper Series 16-17, Department of Economics at the University of Luxembourg.
    15. William R. Cline, 2015. "Further Statistical Debate on "Too Much Finance"," Working Paper Series WP15-16, Peterson Institute for International Economics.
    16. Michiel Bijlsma & Clemens Kool & Marielle Non, 2017. "The effect of financial development on economic growth: a meta-analysis," CPB Discussion Paper 340, CPB Netherlands Bureau for Economic Policy Analysis.
    17. Steven Poelhekke, 2016. "Financial Globalization and Foreign Direct Investment," Tinbergen Institute Discussion Papers 16-098/VIII, Tinbergen Institute.
    18. Campos, Nauro F. & De Grauwe, Paul & Ji, Yuemei, 2017. "Structural Reforms, Growth and Inequality: An Overview of Theory, Measurement and Evidence," IZA Discussion Papers 11159, IZA Network @ LISER.
    19. Vernikov, Andrei, 2017. "Структурные Или Институциональные Сдвиги? Попытка Измерения На Примере Банковского Сектора [Structural change, institutional change and their measurement: The case of banking]," MPRA Paper 79978, University Library of Munich, Germany.
    20. Sheilla Nyasha & Nicholas M. Odhiambo, 2018. "Financial Development and Economic Growth Nexus: A Revisionist Approach," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 47(1), pages 223-229, February.
    21. Scheuermeyer, Philipp & Bofinger, Peter, 2016. "Income Distribution and Household Saving: A Non-Monotonic Relationship," VfS Annual Conference 2016 (Augsburg): Demographic Change 145901, Verein für Socialpolitik / German Economic Association.
    22. Cabrillac, Bruno & Al-Haschimi, Alexander & Babecká Kucharčuková, Oxana & Borin, Alessandro & Bussière, Matthieu & Cezar, Raphael & Derviz, Alexis & Dimitropoulou, Dimitra & Ferrara, Laurent & Gächter, 2016. "Understanding the weakness in global trade - What is the new normal?," Occasional Paper Series 178, European Central Bank.
    23. Berger, Allen N. & Sedunov, John, 2017. "Bank liquidity creation and real economic output," Journal of Banking & Finance, Elsevier, vol. 81(C), pages 1-19.
    24. Philip Mader, 2018. "Contesting Financial Inclusion," Development and Change, International Institute of Social Studies, vol. 49(2), pages 461-483, March.
    25. L. Jacolin & A. Noah, 2017. "The deconcentration of banking systems in sub-Saharan Africa," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 47, pages 43-51, Autumn.
    26. Moder, Isabella & Bonifai, Niccolò, 2017. "Access to finance in the Western Balkans," Occasional Paper Series 197, European Central Bank.
    27. Thomas Grjebine & Fabien Tripier, 2015. "Excess Finance and Growth: Don't Lose Sight of Expansions !," Working Papers 2015-31, CEPII research center.
    28. Alberto BUCCI & Simone MARSIGLIO, 2016. "Financial Development and Economic Growth: Long Run Equilibrium and Transitional Dynamics," Departmental Working Papers 2016-16, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    29. Gründler, Klaus, 2015. "The vanishing effect of finance on growth," Discussion Paper Series 133, Julius Maximilian University of Würzburg, Chair of Economic Order and Social Policy.
    30. Luintel, Kul B & Khan, Mosahid & Leon-Gonzalez, Roberto & Li, GuangJie, 2016. "Financial Development, Structure and Growth: New Data, Method and Results," Cardiff Economics Working Papers E2016/2, Cardiff University, Cardiff Business School, Economics Section.
    31. Gemzik-Salwach Agata & Perz Paweł, 2018. "Financialization in the Regional Aspect. An Attempt to Measure a Phenomenon," Central European Economic Journal, Paradigm, vol. 5(52), pages 56-66, January.
    32. Peter Haiss & Hannes Juvan & Bernhard Mahlberg, 2016. "The Impact of Financial Crises on the Finance–Growth Relationship: A European Perspective," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 45(3), pages 423-444, November.
    33. Gächter, Martin & Gkrintzalis, Ioannis, 2017. "The finance–trade nexus revisited: Is the global trade slowdown also a financial story?," Economics Letters, Elsevier, vol. 158(C), pages 21-25.
    34. Christian Beer & Walter Waschiczek, 2017. "What is the financial sector’s contribution to the Austrian economy?," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/17, pages 54-72.
    35. Jordà , Oscar & Schularick, Moritz & Taylor, Alan M., 2016. "Macrofinancial History and the New Business Cycle Facts," CEPR Discussion Papers 11587, Centre for Economic Policy Research.
    36. Thomas Grjebine & Urzula Szczerbowicz & Fabien Tripier, 2017. "Corporate Debt Structure and Economic Recoveries," Working papers 646, Banque de France.
    37. Gunther Capelle-Blancard, 2017. "À quoi servent les (centaines de milliers de milliards de) transactions boursières ?," Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 37-58.
    38. Daniele Tori & Özlem Onaran, 2017. "The effects of financialisation and financial development on investment: evidence from firm-level data in Europe," Working Papers PKWP1705, Post Keynesian Economics Society (PKES).
    39. Bofinger, Peter & Scheuermeyer, Philipp, 2016. "Income Distribution and Aggregate Saving: A Non-Monotonic Relationship," CEPR Discussion Papers 11435, Centre for Economic Policy Research.
    40. Berardi, Simone & Tedeschi, Gabriele, 2017. "From banks' strategies to financial (in)stability," International Review of Economics & Finance, Elsevier, vol. 47(C), pages 255-272.
    41. Jean-Louis Arcand & Enrico Berkes & Ugo Panizza, 2026. "Too Much Finance Redux," IHEID Working Papers 04-2026, Economics Section, The Graduate Institute of International Studies.
    42. Bove, Vincenzo & Elia, Leandro, 2017. "Migration, Diversity, and Economic Growth," World Development, Elsevier, vol. 89(C), pages 227-239.
    43. Roberto Veneziani & Luca Zamparelli & Leila E. Davis, 2017. "Financialization And Investment: A Survey Of The Empirical Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1332-1358, December.
    44. Jesus Ferreiro, 2016. "Macroeconomic and financial sector policies to better serve the economy and society," Working papers wpaper165, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    45. Tatiana Gaelle Yongoua Tchikanda, 2017. "Systemic risk and individual risk: A trade-off?," EconomiX Working Papers 2017-16, University of Paris Nanterre, EconomiX.
    46. Lu Zhang & Dirk Bezemer, 2016. "Finance and growth in China, 1995–2013: more liquidity or more development?," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 9(3), pages 613-631.
    47. Unger, Robert, 2018. "Revisiting the finance and growth nexus: A deeper look at sectors and instruments," Discussion Papers 55/2018, Deutsche Bundesbank.
    48. Baldi, Simona & Bottasso, Anna & Conti, Maurizio & Piccardo, Chiara, 2016. "To bid or not to bid: That is the question: Public procurement, project complexity and corruption," European Journal of Political Economy, Elsevier, vol. 43(C), pages 89-106.
    49. Jacolin, L. & Noah, A., 2017. "Le mouvement de déconcentration des systèmes bancaires en Afrique subsaharienne," Bulletin de la Banque de France, Banque de France, issue 212, pages 47-55.
    50. Brun, Jean-François & Gnangnon, Sèna Kimm, 2017. "Does trade openness contribute to driving financing flows for development?," WTO Staff Working Papers ERSD-2017-06, World Trade Organization (WTO), Economic Research and Statistics Division.
    51. Cezar, R., 2017. "Les entreprises exportatrices en France : une comparaison avec l’Union européenne," Bulletin de la Banque de France, Banque de France, issue 212, pages 29-38.
    52. Giorgio Ffagiolo & Daniele Giachini & Andrea Roventini, 2017. "Innovation, Finance, and Economic Growth : an agent based approach," Documents de Travail de l'OFCE 2017-28, Observatoire Francais des Conjonctures Economiques (OFCE).
    53. Norman Loayza & Amine Ouazad & Romain Ranciere, 2017. "Financial Development, Growth, and Crisis: Is There a Trade-Off?," Working Papers 114, Peruvian Economic Association.
    54. Bertay, Ata Can & Gong, Di & Wagner, Wolf, 2017. "Securitization and economic activity: The credit composition channel," Journal of Financial Stability, Elsevier, vol. 28(C), pages 225-239.
    55. Ninlias, E. & Torre, G., 2017. "La monnaie fiduciaire en France en 2016," Bulletin de la Banque de France, Banque de France, issue 212, pages 5-14.
    56. Rosa Capolupo, 2018. "Finance, Investment and Growth: Evidence for Italy," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 47(1), pages 145-186, February.
    57. Bahadir, Berrak & Valev, Neven, 2017. "Catching up or drifting apart: Convergence of household and business credit in Europe," International Review of Economics & Finance, Elsevier, vol. 47(C), pages 101-114.
    58. Chauvet, Lisa & Jacolin, Luc, 2017. "Financial Inclusion, Bank Concentration, and Firm Performance," World Development, Elsevier, vol. 97(C), pages 1-13.
    59. Stewen, Iryna, 2016. "Banking Deregulation and Growth: A Reappraisal," VfS Annual Conference 2016 (Augsburg): Demographic Change 145586, Verein für Socialpolitik / German Economic Association.
    60. C. Guette-Khiter, 2017. "Non-resident holdings of French CAC 40 shares at end-2016," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 47, pages 25-34, Autumn.
    61. Imam, Patrick & Kpodar, Kangni, 2016. "Islamic banking: Good for growth?," Economic Modelling, Elsevier, vol. 59(C), pages 387-401.
    62. Balard, M. & Boileau, A., 2017. "En 2016, les principaux groupes français présentent un niveau de profitabilité et d’investissement au plus haut depuis cinq ans," Bulletin de la Banque de France, Banque de France, issue 212, pages 15-28.
    63. PETRIA Nicolae, 2017. "Is Romania Overbanked?," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 69(6), pages 63-74, December.
    64. Efobi, Uchenna & Tanankem, Belmondo & Asongu, Simplice & Beecroft, Ibukun, 2016. "Exploring Multidimensional Financial Inclusion and Manufacturing Firms Performance in a Developing Country: The Case of Nigeria," MPRA Paper 76589, University Library of Munich, Germany.
    65. Singh, Nirvikar & Bun, Linh, 2015. "Heterogeneous Patterns of Financial Development:Implications for Asian Financial Integration," Santa Cruz Department of Economics, Working Paper Series qt8zv2r5ff, Department of Economics, UC Santa Cruz.
    66. Meghana Ayyagari & Thorsten Beck & Maria Soledad Martinez Peria, 2017. "Credit growth and macroprudential policies: preliminary evidence on the firm level," BIS Papers chapters, in: Bank for International Settlements (ed.), Financial systems and the real economy, volume 91, pages 15-34, Bank for International Settlements.
    67. Silva, Sergio H.R. da & Tabak, Benjamin M. & Cajueiro, Daniel O. & Fazio, Dimas M., 2017. "Economic growth, volatility and their interaction: What’s the role of finance?," Economic Systems, Elsevier, vol. 41(3), pages 433-444.
    68. Gerald Epstein, 2018. "On the Social Efficiency of Finance," Development and Change, International Institute of Social Studies, vol. 49(2), pages 330-352, March.
    69. Ugo Panizza, 2018. "Nonlinearities in the Relationship Between Finance and Growth," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(1), pages 44-53, March.
    70. R. Cezar, 2017. "Exporting firms in France: a comparison with the European Union," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 47, pages 15-24, Autumn.
    71. Donny Tang, 2015. "Has the European Financial Integration Promoted the Economic Growth Among the New European Union Countries?," Research in Economics and Business: Central and Eastern Europe, Tallinn School of Economics and Business Administration, Tallinn University of Technology, vol. 7(1).
    72. Lee, Chi-Chuan & Lee, Chien-Chiang & Chiou, Yan-Yu, 2017. "Insurance activities, globalization, and economic growth: New methods, new evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 51(C), pages 155-170.
    73. Natalia Drzewoszewska, 2016. "Związki przyczynowo-skutkowe między bilateralnymi przepływami handlu, bezpośrednich inwestycji zagranicznych i migracji w państwach rozwiniętych," Collegium of Economic Analysis Annals, Warsaw School of Economics, Collegium of Economic Analysis, issue 41, pages 203-220.
    74. Rangan Gupta & Lardo Stander & Andrea Vaona, 2017. "Openness and Growth: Is the Relationship Non-Linear?," Working Papers 201703, University of Pretoria, Department of Economics.
    75. Christian Beer & Walter Waschiczek, 2018. "Capital markets union: a more diverse financial landscape in the EU?," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/18, pages 71-86.
    76. Beaudemoulin, N. & Bienvenu, P. & Lawniczak, A.-S. & Warzee, D., 2017. "Les enjeux de régulation et de supervision liés aux fintechs et à la rupture digitale," Bulletin de la Banque de France, Banque de France, issue 212, pages 39-46.
    77. Kevin Williams, 2016. "Remittances and Financial Development: Evidence from Sub-Saharan Africa," African Development Review, African Development Bank, vol. 28(3), pages 357-367, September.
    78. N. Beaudemoulin & P. Bienvenu & A.-S. Lawniczak & D. Warzee, 2017. "FinTechs and the digital revolution: the challenges of regulation and supervision," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 47, pages 35-42, Autumn.
    79. Thomas Grjebine & Fabien Tripier, 2016. "Finance and Growth: From the Business Cycle to the Long Run," Working Papers 2016-28, CEPII research center.
    80. Michael A Stemmer, 2017. "Revisiting Finance and Growth in Transition Economies - A Panel Causality Approach," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01524462, HAL.
    81. Emmanuel Carré & Guillaume L’Œillet, 2017. "Une revue de la littérature récente sur le nexus finance-croissance après la crise : apports, limites et pistes de recherche," Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 271-290.
    82. Aida Caldera Sánchez & Alain de Serres & Filippo Gori & Mikkel Hermansen & Oliver Röhn, 2017. "Strengthening economic resilience: Insights from the post-1970 record of severe recessions and financial crises," OECD Economic Policy Papers 20, OECD Publishing.
    83. Sunaga, Miho, 2017. "Endogenous growth cycles with financial intermediaries and entrepreneurial innovation," Journal of Macroeconomics, Elsevier, vol. 53(C), pages 191-206.
    84. Muhammad Ayyoub, 2016. "Inflation-growth nexus in developing economies: New empirical evidence from a dis-aggregated approach," Economics working papers 2016-02, Department of Economics, Johannes Kepler University Linz, Austria.
    85. Panicos O. Demetriades & Peter L. Rousseau & Johan Rewilak, 2017. "Finance, Growth And Fragility," Discussion Papers in Economics 17/13, Division of Economics, School of Business, University of Leicester.
    86. Giovanni Dosi & Valerie Revest & Alessandro Sapio, 2016. "Financial regimes, financialization patterns and industrial performances: preliminary remarks," LEM Papers Series 2016/25, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    87. Jérôme Creel & Paul Hubert & Fabien Labondance, 2017. "Financialisation Risks and Econmic Performance," Documents de Travail de l'OFCE 2017-21, Observatoire Francais des Conjonctures Economiques (OFCE).
    88. Anna Zabai, 2017. "Household debt: recent developments and challenges," BIS Quarterly Review, Bank for International Settlements, December.
    89. Lee, Chien-Chiang & Chang, Chi-Hung & Arouri, Mohamed & Lee, Chi-Chuan, 2016. "Economic growth and insurance development: The role of institutional environments," Economic Modelling, Elsevier, vol. 59(C), pages 361-369.

  43. Ugo Panizza, 2014. "Public Debt Risks in Italy Myths, Facts, and Policies," IHEID Working Papers 13-2014, Economics Section, The Graduate Institute of International Studies, revised 12 Feb 2014.

    Cited by:

    1. Barry Eichengreen & Ugo Panizza, 2014. "A Surplus of Ambition: Can Europe Rely on Large Primary Surpluses to Solve its Debt Problem?," NBER Working Papers 20316, National Bureau of Economic Research, Inc.
    2. Daniel Budzeń, 2021. "Ryzyko polityczne w zarządzaniu długiem lokalnym w Polsce," Studia z Polityki Publicznej / Public Policy Studies, Warsaw School of Economics, vol. 8(2), pages 1-17.
    3. Emre Sakar & Mahmut Unsal Sasmaz & Ahmet Ozen, 2025. "The Nexus Between Tax Revenue, Economic Policy Uncertainty, and Economic Growth: Evidence from G7 Economies," Sustainability, MDPI, vol. 17(15), pages 1-34, July.

  44. Eichengreen, Barry & Panizza, Ugo, 2014. "A Surplus of Ambition: Can Europe Rely on Large Primary Surpluses to Solve its Debt Problem?," CEPR Discussion Papers 10069, Centre for Economic Policy Research.

    Cited by:

    1. Ugo Panizza & Andrew Powell, 2023. "Reducing Public Debt: What Works Best?," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 9, pages 197-222, Inter-American Development Bank.
    2. Eduardo Cavallo & Eduardo Fernández Arias, 2023. "Strong External Balance Sheets for Resilient Economies," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 2, pages 5-36, Inter-American Development Bank.
    3. João Ayres & Anna Gelpern & Andrew Powell, 2023. "Sovereign Debt Restructuring: In Need of a New Approach," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 10, pages 223-254, Inter-American Development Bank.
    4. Leandro Andrián & Oscar Mauricio Valencia, 2023. "Past the Tipping Point? Assessing Debt Overhang in Latin America and the Caribbean," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 8, pages 183-196, Inter-American Development Bank.
    5. María del Carmen Ramos-Herrera & Simón Sosvilla-Rivero, 2020. "Fiscal Sustainability in Aging Societies: Evidence from Euro Area Countries," Sustainability, MDPI, vol. 12(24), pages 1-20, December.
    6. Guangming Gong & Si Xu & Xun Gong, 2018. "On the Value of Corporate Social Responsibility Disclosure: An Empirical Investigation of Corporate Bond Issues in China," Journal of Business Ethics, Springer, vol. 150(1), pages 227-258, June.
    7. Roel Beetsma, 2022. "The Economics of Fiscal Rules and Debt Sustainability," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(1), pages 11-15, January.
    8. Casalin, Fabrizio & Cerniglia, Floriana & Dia, Enzo, 2023. "Stock-flow adjustments, public debt management and interest costs," Economic Modelling, Elsevier, vol. 129(C).
    9. María Cecilia Acevedo & Vanessa Alviarez & Joaquin Lennon Sabatini, 2023. "Managing Private Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 11, pages 255-284, Inter-American Development Bank.
    10. Mammetti, Veronica & Zenios, Stavros A. & Morelli, Giacomo, 2026. "Are sovereign debts sustainable under energy transition?," Energy Economics, Elsevier, vol. 157(C).
    11. Hauptmeier, Sebastian & Kamps, Christophe, 2022. "Debt policies in the aftermath of COVID-19 — The SGP’s debt benchmark revisited," European Journal of Political Economy, Elsevier, vol. 75(C).
    12. Warmedinger, Thomas & Checherita-Westphal, Cristina & Drudi, Francesco & Setzer, Ralph & De Stefani, Roberta & Bouabdallah, Othman & Westphal, Andreas, 2017. "Debt sustainability analysis for euro area sovereigns: a methodological framework," Occasional Paper Series 185, European Central Bank.
    13. Daniel J. Lewis, 2018. "Robust inference in models identified via heteroskedasticity," Staff Reports 876, Federal Reserve Bank of New York.
    14. Ugo Panizza & Charles Wyplosz, 2018. "The Folk Theorem of Decreasing Effectiveness of Monetary Policy: What Do the Data Say?," Russian Journal of Money and Finance, Bank of Russia, vol. 77(1), pages 71-107, March.
    15. Alberola, Enrique & Cheng, Gong & Consiglio, Andrea & Zenios, Stavros A., 2023. "Unconventional monetary policy and debt sustainability in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 69(C).
    16. Katia Berti & Eugeniu Colesnic & Cyril Desponts & Stephanie Pamies & Etienne Sail, 2016. "Fiscal Reaction Functions for European Union Countries," European Economy - Discussion Papers 028, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    17. Juan Manuel Hernández & Andrew Powell & Oscar Mauricio Valencia, 2023. "Debt Sustainability: More Important than Ever," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 5, pages 95-122, Inter-American Development Bank.
    18. Enrique Alberola-Ila & Gong Cheng & Andrea Consiglio & Stavros A. Zenios, 2022. "Debt sustainability and monetary policy: the case of ECB asset purchases," BIS Working Papers 1034, Bank for International Settlements.
    19. Eduardo Cavallo & Barry Eichengreen & Ugo Panizza, 2018. "Can countries rely on foreign saving for investment and economic development?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 154(2), pages 277-306, May.
    20. Xun Gong & Shenggang Yang & Min Zhang, 2017. "Not Only Health: Environmental Pollution Disasters and Political Trust," Sustainability, MDPI, vol. 9(4), pages 1-28, April.
    21. Beqiraj, Elton & Fedeli, Silvia & Forte, Francesco, 2018. "Public debt sustainability: An empirical study on OECD countries," Journal of Macroeconomics, Elsevier, vol. 58(C), pages 238-248.
    22. Stavros A. Zenios & Andrea Consiglio & Marialena Athanasopoulou & Edmund Moshammer & Angel Gavilan & Aitor Erce, 2021. "Risk Management for Sustainable Sovereign Debt Financing," Operations Research, INFORMS, vol. 69(3), pages 755-773, May.
    23. European Fiscal Board (EFB), 2020. "2020 annual report of the European Fiscal Board," Annual reports 2020, European Fiscal Board.
    24. Mr. Julio Escolano & Laura Jaramillo & Mr. Carlos Mulas-Granados & Mr. G. Terrier, 2014. "How Much is A Lot? Historical Evidence on the Size of Fiscal Adjustments," IMF Working Papers 2014/179, International Monetary Fund.
    25. A. Fatas & Mr. Atish R. Ghosh & Ugo Panizza & Mr. Andrea F Presbitero, 2019. "The Motives to Borrow," IMF Working Papers 2019/101, International Monetary Fund.
    26. Mehrotra, Neil R. & Sergeyev, Dmitriy, 2021. "Debt sustainability in a low interest rate world," Journal of Monetary Economics, Elsevier, vol. 124(S), pages 1-18.
    27. Andrew Powell & Oscar Mauricio Valencia, 2023. "The Debt Conundrum," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 1, pages 1-4, Inter-American Development Bank.
    28. Frankel, Jeffrey, 2015. "The euro crisis: Where to from here?," Journal of Policy Modeling, Elsevier, vol. 37(3), pages 428-444.
    29. Wiese, Rasmus & Jong-A-Pin, Richard & de Haan, Jakob, 2018. "Can successful fiscal adjustments only be achieved by spending cuts?," European Journal of Political Economy, Elsevier, vol. 54(C), pages 145-166.
    30. Jan Priewe, 2020. "Why 60 and 3 percent? European debt and deficit rules - critique and alternatives," IMK Studies 66-2020, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    31. Crafts, Nicholas, 2014. "Reducing High Public Debt Ratios: Lessons from UK Experience," CAGE Online Working Paper Series 199, Competitive Advantage in the Global Economy (CAGE).
    32. Eichengreen, Barry & El-Ganainy, Asmaa & Esteves, Rui & Mitchener, Kris, 2019. "Public Debt Through the Ages," CEPR Discussion Papers 13471, Centre for Economic Policy Research.
    33. Zhang, Yunhan & Liu, Zhixin & Jin, Hao, 2026. "Monetary-fiscal policy interactions in public debt consolidation: the role of fiscal rules and inflation targeting," Journal of International Money and Finance, Elsevier, vol. 161(C).
    34. Checherita-Westphal, Cristina & Žďárek, Václav, 2017. "Fiscal reaction function and fiscal fatigue: evidence for the euro area," Working Paper Series 2036, European Central Bank.
    35. Timm M. Prein & Almuth Scholl, 2018. "The Impact of Bailouts on Political Turnover and Sovereign Default Risk," Working Paper Series of the Department of Economics, University of Konstanz 2018-04, Department of Economics, University of Konstanz.
    36. Oliver Picek, 2018. "Kann nationale Konjunkturpolitik noch Beschäftigung schaffen?," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 180, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
    37. Alberto Botta, 2016. "The Short- and Long-run Inconsistency of the Expansionary Austerity Theory: A Post-Keynesian/Evolutionist Critique," Economics Working Paper Archive wp_878, Levy Economics Institute.
    38. Ugo Panizza, 2014. "Public Debt Risks in Italy Myths, Facts, and Policies," IHEID Working Papers 13-2014, Economics Section, The Graduate Institute of International Studies, revised 12 Feb 2014.
    39. Maria Manuel Campos & Cristina Checherita-Westphal, 2019. "Economic consequences of high public debt and challenges ahead for the euro area," Working Papers o201904, Banco de Portugal, Economics and Research Department.
    40. María Cecilia Acevedo & Leandro Andrián & Victoria Nuguer & Oscar Mauricio Valencia, 2023. "Understanding the Rise in Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 4, pages 67-94, Inter-American Development Bank.
    41. Andrew Powell & Oscar Mauricio Valencia, 2023. "The Bottom Line on Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 13, pages 309-318, Inter-American Development Bank.
    42. Powell, Andrew & Panizza, Ugo, 2023. "Debt Reduction in Latin America and the Caribbean," IDB Publications (Working Papers) 13290, Inter-American Development Bank.
    43. Robertson, D. & Tambakis, D., 2016. "Long-Run Debt Ratios with Fiscal Fatigue," Cambridge Working Papers in Economics 1674, Faculty of Economics, University of Cambridge.
    44. Barry Eichengreen, 2023. "Jackson Hole 2023 - Global Financial Flows," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, August.
    45. Mario Coccia, 2018. "National debts and government deficits within European Monetary Union: Statistical evidence of economic issues," Papers 1806.07830, arXiv.org.
    46. John Berdell & Thomas S. Mondschean & Rowena A. Pecchenino, 2019. "Where Has All the Demand Gone? Challenges to Growth in a “Neo-Mercantilist” Age," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 69(3), pages 35-54, July-Sept.
    47. European Fiscal Board (EFB), 2019. "Assessment of EU fiscal rules with a focus on the six and two-pack legislation," Reports 2019, European Fiscal Board.
    48. Collard, Fabrice & Habib, Michel & Panizza, Ugo & Rochet, Jean-Charles, 2024. "Sovereign Debt Sustainability with Involuntary Default," TSE Working Papers 24-1599, Toulouse School of Economics (TSE).
    49. Eichengreen, Barry, 2025. "A tale of debt in three acts," Journal of Policy Modeling, Elsevier, vol. 47(4), pages 738-745.
    50. Leopoldo Avellán & Arturo Galindo & Giulia Lotti, 2023. "Official Creditors: Providing More than Money," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 7, pages 161-182, Inter-American Development Bank.
    51. Barry Eichengreen & Rui Esteves, 2022. "Up and away? Inflation and debt consolidation in historical perspective," Oxford Open Economics, Oxford University Press, vol. 1, pages 1-20.
    52. Coccia, Mario, 2017. "Asymmetric paths of public debts and of general government deficits across countries within and outside the European monetary unification and economic policy of debt dissolution," The Journal of Economic Asymmetries, Elsevier, vol. 15(C), pages 17-31.
    53. Philipp Heimberger, 2025. "The new EU fiscal framework: Implications for public spending on the green and digital transition," wiiw Policy Notes 94, The Vienna Institute for International Economic Studies, wiiw.
    54. Symeon Mavridis, 2018. "Greece’s Economic and Social Transformation 2008–2017," Social Sciences, MDPI, vol. 7(1), pages 1-14, January.
    55. Schilirò, Daniele, 2016. "Rules, Imbalances and Growth in the Eurozone," MPRA Paper 75641, University Library of Munich, Germany.
    56. Badru, Ruth & Calef, Andrea & Ilori, Ayobami E. & Omoju, Oluwasola E., 2025. "Fiscal consolidation and asymmetric macroeconomic effects: Evidence from Sub-Saharan African countries," Economic Modelling, Elsevier, vol. 147(C).
    57. Rodrigo Heresi & Andrew Powell, 2023. "Balance Sheet Vulnerabilities in the Wake of the Pandemic," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 12, pages 285-308, Inter-American Development Bank.
    58. Eduardo Borensztein & Eduardo Cavallo, 2023. "Domestic Bond Markets: Successes and Challenges," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 3, pages 37-66, Inter-American Development Bank.
    59. Bhattacharya, Rudrani & C. Prasanth & Rao, R. Kavita, 2024. "How much Debt is Optimal for the Major Indian States? Economic Growth vs. Debt Sustainability," Working Papers 24/411, National Institute of Public Finance and Policy.
    60. Iancu, Aurel & Olteanu, Dan Constantin, 2023. "Debt Limit, Fiscal Space and Fiscal Fatigue in the Central and Eastern European Countries of EU," Working Papers of National Institute for Economic Research 230629, Institutul National de Cercetari Economice (INCE).
    61. European Fiscal Board (EFB), 2019. "2019 annual report of the European Fiscal Board," Annual reports 2019, European Fiscal Board.
    62. Betty Daniel, Christos Shiamptanis, 2015. "Predicting Sovereign Fiscal Crises: High-Debt Developed Countries," LCERPA Working Papers 0090, Laurier Centre for Economic Research and Policy Analysis, revised 05 May 2015.
    63. Maggi, Bernardo, 2023. "Eurosystem stability: A stochastic dynamic optimization approach to public debt," Socio-Economic Planning Sciences, Elsevier, vol. 90(C).
    64. Eduardo Levy Yeyati & Andrew Powell, 2023. "Sovereign Debt Management," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 6, pages 123-160, Inter-American Development Bank.
    65. Powell, Andrew & Valencia, Oscar, 2023. "Dealing with Debt: Less Risk for More Growth in Latin America and the Caribbean," IDB Publications (Books), Inter-American Development Bank, number 12664.
    66. Jan Priewe, 2021. "Reforming the Fiscal Rulebook for the Euro Area – and the Challenge of Old and New Public Debt," IMK Studies 72-2021, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    67. Eichengreen, Barry, 2015. "How the euro crisis ends: Not with a bang but a whimper," Journal of Policy Modeling, Elsevier, vol. 37(3), pages 415-422.

  45. Salvatore Dell'Erba & Ricardo Hausmann & Ugo Panizza, 2013. "Debt Levels, Debt Composition, and Sovereign Spreads in Emerging and Advanced Economies," CID Working Papers 263, Center for International Development at Harvard University.

    Cited by:

    1. Metodij Hadzi-Vaskov & Mr. Luca A Ricci, 2016. "Does Gross or Net Debt Matter More for Emerging Market Spreads?," IMF Working Papers 2016/246, International Monetary Fund.
    2. Casalin, Fabrizio & Dia, Enzo & Hughes Hallett, Andrew, 2020. "Public debt dynamics with tax revenue constraints," Economic Modelling, Elsevier, vol. 90(C), pages 501-515.
    3. Matthew Theobald, 2023. "Heterogeneity in the impact of risk on local currency borrowing," Indian Economic Review, Springer, vol. 58(2), pages 319-357, September.
    4. Liu, Zheng & Spiegel, Mark M. & Zhang, Jingyi, 2023. "Capital flows and income inequality," Journal of International Economics, Elsevier, vol. 144(C).
    5. Mikhail Stolbov, 2017. "Assessing systemic risk and its determinants for advanced and major emerging economies: the case of ΔCoVaR," International Economics and Economic Policy, Springer, vol. 14(1), pages 119-152, January.
    6. Pierre Bui Quang, 2018. "The effect of non-resident investments on the French sovereign spread," Working Papers hal-04141676, HAL.
    7. Muhammad Dawood & Zhao Rui Feng & Mingxing Li & Fayaz Hussain Tunio & Noah Cheruiyot Mutai & Zhong Hua Li, 2026. "Foreign Debt and Economic Growth: The Role of Institutional Quality and Financial Development in Asian Developing Countries," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 34(1), pages 161-182, January.
    8. Markus Eberhardt & Andrea Filippo Presbitero, 2013. "This Time They're Different: Heterogeneity;and Nonlinearity in the Relationship;between Debt and Growth," Mo.Fi.R. Working Papers 92, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    9. Galindo, Arturo & Panizza, Ugo, 2017. "The Cyclicality of International Public Sector Borrowing in Developing Countries: Does the Lender Matter?," CEPR Discussion Papers 12243, Centre for Economic Policy Research.
    10. Fisera, Boris & Workie Tiruneh, Menbere & Hojdan, David, 2021. "Currency depreciations in emerging economies: A blessing or a curse for external debt management?," International Economics, Elsevier, vol. 168(C), pages 132-165.
    11. Duygu Yolcu Karadam & Erdal Özmen, 2016. "Real Exchange Rates and Growth," ERC Working Papers 1609, ERC - Economic Research Center, Middle East Technical University, revised Sep 2016.
    12. Amat Adarov & Ugo Panizza, 2024. "Public Investment Quality and its Implications for Sovereign Risk and Debt Sustainability," IHEID Working Papers 12-2024, Economics Section, The Graduate Institute of International Studies.
    13. Moretti,Matías & Pandolfi,Lorenzo & Schmukler,Sergio L. & Villegas Bauer,Germán & Williams,Tomás, 2024. "Inelastic Demand Meets Optimal Supply of Risky Sovereign Bonds," Policy Research Working Paper Series 10735, The World Bank.
    14. Pandolfi, Lorenzo & Williams, Tomas, 2019. "Capital flows and sovereign debt markets: Evidence from index rebalancings," Journal of Financial Economics, Elsevier, vol. 132(2), pages 384-403.
    15. Istvan Konya & Franklin Maduko, 2018. "Interest premium and external position: a time varying approach," KRTK-KTI WORKING PAPERS 1829, Institute of Economics, Centre for Economic and Regional Studies.
    16. Cuong Le Van & van Phu Nguyen & Amélie Barbier-Gauchard & Duc-Anh Le, 2019. "Government expenditure, external and domestic public debt, and economic growth," PSE-Ecole d'économie de Paris (Postprint) hal-02093378, HAL.
    17. Nada Azmy Elberry & Frank Naert & Stijn Goeminne, 2023. "Optimal public debt composition during debt crises: A review of theoretical literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 351-376, April.
    18. Kanwal Iqbal Khan & Faisal Qadeer & Mário Nuno Mata & José Chavaglia Neto & Qurat ul An Sabir & Jéssica Nunes Martins & José António Filipe, 2021. "Core Predictors of Debt Specialization: A New Insight to Optimal Capital Structure," Mathematics, MDPI, vol. 9(9), pages 1-25, April.
    19. Hideaki Matsuoka, 2020. "Debt intolerance: Threshold level and composition," Working Papers e147, Tokyo Center for Economic Research.
    20. Bartels, Bernhard & Weiser, Constantin, 2015. "Public Debt & Sovereign Ratings - Do Industrialized Countries Enjoy a Privilege?," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112822, Verein für Socialpolitik / German Economic Association.
    21. M. Ayhan Kose & Sergio Kurlat & Franziska Ohnsorge & Naotaka Sugawara, 2017. "A Cross-Country Database of Fiscal Space," Koç University-TUSIAD Economic Research Forum Working Papers 1713, Koc University-TUSIAD Economic Research Forum.
    22. Mr. Seyed Reza Yousefi, 2019. "Public Sector Balance Sheet Strength and the Macro Economy," IMF Working Papers 2019/170, International Monetary Fund.
    23. Grobéty, Mathieu, 2018. "Government debt and growth: The role of liquidity," Journal of International Money and Finance, Elsevier, vol. 83(C), pages 1-22.
    24. Jeanneret, Alexandre & Souissi, Slim, 2016. "Sovereign defaults by currency denomination," Journal of International Money and Finance, Elsevier, vol. 60(C), pages 197-222.
    25. Ugo Panizza, 2026. "Eurobonds and the European Debt Trilemma," IHEID Working Papers 15-2026, Economics Section, The Graduate Institute of International Studies.
    26. Barry Eichengreen & Ugo Panizza, 2014. "A Surplus of Ambition: Can Europe Rely on Large Primary Surpluses to Solve its Debt Problem?," NBER Working Papers 20316, National Bureau of Economic Research, Inc.
    27. Mr. Serkan Arslanalp & Mr. Tigran Poghosyan, 2014. "Foreign Investor Flows and Sovereign Bond Yields in Advanced Economies," IMF Working Papers 2014/027, International Monetary Fund.
    28. De Vita, Glauco & Trachanas, Emmanouil & Luo, Yun, 2018. "Revisiting the bi-directional causality between debt and growth: Evidence from linear and nonlinear tests," Journal of International Money and Finance, Elsevier, vol. 83(C), pages 55-74.
    29. Seda Yıldırım & Durmuş Çağrı Yıldırım & Seda H. Bostancı & Elif Nur Tarı, 2022. "Winner or loser? The asymmetric role of natural resource rents on financial development among resource‐rich countries," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(6), pages 1921-1933, December.
    30. Clark, Ephraim & Kassimatis, Konstantinos, 2015. "Macroeconomic effects on emerging-markets sovereign credit spreads," Journal of Financial Stability, Elsevier, vol. 20(C), pages 1-13.
    31. Hayley Pallan, 2022. "Sovereign Spreads and Corporate Taxation," IHEID Working Papers 15-2022, Economics Section, The Graduate Institute of International Studies.
    32. Bernd Bartels & Constantin Weiser, 2014. "Public Debt & Sovereign Ratings - Do Industrialized Countries Enjoy a Privilege?," Working Papers 1417, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 29 Nov 2014.
    33. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2023. "Yet it Endures: The Persistence of Original Sin," Open Economies Review, Springer, vol. 34(1), pages 1-42, February.
    34. Keyser, Alice & Paczos, Wojtek, 2023. "Sovereign risk, debt composition and exchange rate regimes," Finance Research Letters, Elsevier, vol. 58(PB).
    35. Ugo Panizza, 2014. "Public Debt Risks in Italy Myths, Facts, and Policies," IHEID Working Papers 13-2014, Economics Section, The Graduate Institute of International Studies, revised 12 Feb 2014.
    36. Eberhardt, Markus & Presbitero, Andrea F., 2015. "Public debt and growth: Heterogeneity and non-linearity," Journal of International Economics, Elsevier, vol. 97(1), pages 45-58.
    37. Afonso, António & Tovar Jalles, João, 2017. "Sovereign debt composition and time-varying public finance sustainability," The North American Journal of Economics and Finance, Elsevier, vol. 42(C), pages 144-155.
    38. Mattia Osvaldo Picarelli & Willem Vanlaer & Wim Marneffe, 2019. "Does Public Debt Produce a Crowding Out Effect for Public Investment in the EU?," Working Papers 36, European Stability Mechanism.
    39. Pierre Bui Quang, 2018. "The effect of non-resident investments on the French sovereign spread," EconomiX Working Papers 2018-52, University of Paris Nanterre, EconomiX.
    40. Andrian, Leandro & Rodriguez, Cesar M. & Valencia, Oscar M., 2025. "Surges in the shadows: Stock-flow adjustments and public debt spikes," Emerging Markets Review, Elsevier, vol. 67(C).
    41. Hidehiko Matsumoto, 2019. "Foreign Reserve Accumulation, Foreign Direct Investment, and Economic Growth," IMES Discussion Paper Series 19-E-04, Institute for Monetary and Economic Studies, Bank of Japan.
    42. Mario Coccia, 2018. "National debts and government deficits within European Monetary Union: Statistical evidence of economic issues," Papers 1806.07830, arXiv.org.
    43. Beck, Roland & Ferrucci, Gianluigi & Hantzsche, Arno & Rau-Goehring, Matthias, 2016. "Determinants of sub-sovereign bond yield spreads: the role of fiscal fundamentals and federal bailout expectations," Working Paper Series 1987, European Central Bank.
    44. Megersa, Kelbesa & Cassimon, Danny, 2014. "Public debt, economic growth and public sector management in developing countries: is there a link?," IOB Working Papers 2014.11, Universiteit Antwerpen, Institute of Development Policy (IOB).
    45. Garbers, Chris & Liu, Guangling, 2018. "Macroprudential policy and foreign interest rate shocks: A comparison of loan-to-value and capital requirements," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 683-698.
    46. Bennouna, Hicham, 2019. "Interest rate pass-through in Morocco: Evidence from bank-level survey data," Economic Modelling, Elsevier, vol. 80(C), pages 142-157.
    47. Konya, Istvan & Maduko, Franklin, 2020. "Interest premium and external position: A state dependent approach," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 66(C).
    48. Mike Seiferling, 2020. "Apples, oranges and lemons: public sector debt statistics in the 21st century," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-17, December.
    49. Toyofuku, Kenta, 2021. "Unit of account, sovereign debt, and optimal currency area," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    50. Coccia, Mario, 2017. "Asymmetric paths of public debts and of general government deficits across countries within and outside the European monetary unification and economic policy of debt dissolution," The Journal of Economic Asymmetries, Elsevier, vol. 15(C), pages 17-31.
    51. Martin Murín, 2018. "Vplyv verejného dlhu a jeho štruktúry na ekonomického rast vybraných vyspelých krajín [The Influence of Public Debt and Its Structure on Economic Growth of Advanced Economies]," Politická ekonomie, Prague University of Economics and Business, vol. 2018(2), pages 178-200.
    52. António Afonso & Frederico Silva Leal, 2017. "Sovereign yield spreads in the EMU: crisis and structural determinants," Working Papers Department of Economics 2017/09, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    53. Hidehiko Matsumoto, 2018. "Reserve Accumulation, Foreign Direct Investment, and Economic Growth," 2018 Meeting Papers 237, Society for Economic Dynamics.
    54. Dahlia Ervina, 2015. "Macroeconomic News and Price Discovery in Indonesian Government Bond Market," Information Management and Business Review, AMH International, vol. 7(4), pages 98-107.
    55. Panizza, Ugo & Presbitero, Andrea F., 2014. "Public debt and economic growth: Is there a causal effect?," Journal of Macroeconomics, Elsevier, vol. 41(C), pages 21-41.
    56. Cinthia De Souza, 2026. "Sovereign bondholders and the Eurozone core-periphery divide: from the debt crisis to the quantitative tightening," Review of Evolutionary Political Economy, Springer, vol. 7(1), pages 1-28, December.
    57. Chris Garbers & Guangling Liu, 2017. "Macroprudential policy and foreign interest rate shocks: A comparison of different instruments and regulatory regimes," Working Papers 15/2017, Stellenbosch University, Department of Economics.
    58. J. W. Muteba Mwamba & Mathias Manguzvane, 2020. "Contagion risk in african sovereign debt markets: A spatial econometrics approach," International Finance, Wiley Blackwell, vol. 23(3), pages 506-536, December.
    59. Hicham Bennouna & Lahcen Bounader, 2018. "Analyse de la transmission de la politique monétaire vers les taux souverains," Document de travail 2018-2, Bank Al-Maghrib, Département de la Recherche.
    60. Hale, Galina B. & Jones, Peter C. & Spiegel, Mark M., 2020. "Home currency issuance in international bond markets," Journal of International Economics, Elsevier, vol. 122(C).
    61. Yilmaz Akyüz, 2014. "Internationalization of Finance and Changing Vulnerabilities in Emerging and Developing Economies," UNCTAD Discussion Papers 217, United Nations Conference on Trade and Development.
    62. Adarov, Amat & Panizza, Ugo, 2026. "Public investment quality and sovereign risk," Journal of International Money and Finance, Elsevier, vol. 161(C).
    63. António Afonso & João Tovar Jalles, 2017. "Sovereign Debt Effects and Composition: Evidence from Time-Varying Estimates," Working Papers Department of Economics 2017/03, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.

  46. Ugo Panizza, 2013. "Do We Need a Mechanism for Solving Sovereign Debt Crises? A Rule-Based Discussion," IHEID Working Papers 03-2013, Economics Section, The Graduate Institute of International Studies.

    Cited by:

    1. Danny Cassimon & Dennis Essers & Karel Verbeke, 2015. "What to do after the clean slate? Post-relief public debt sustainability and management," BeFinD Working Papers 0103, University of Namur, Department of Economics.
    2. Andritzky, Jochen & Christofzik, Désirée I. & Feld, Lars P. & Scheuering, Uwe, 2018. "A mechanism to regulate sovereign debt restructuring in the euro area," Freiburg Discussion Papers on Constitutional Economics 18/01, Walter Eucken Institut e.V..
    3. A. Fatas & Mr. Atish R. Ghosh & Ugo Panizza & Mr. Andrea F Presbitero, 2019. "The Motives to Borrow," IMF Working Papers 2019/101, International Monetary Fund.
    4. Ugo PANIZZA, 2015. "Debt Sustainability in Low-Income Countries - The Grants versus Loans Debate in a World without Crystal Balls," Working Papers P120, FERDI.
    5. Flores Zendejas, Juan, 2015. "Capital Markets and Sovereign Defaults: A Historical Perspective," Working Papers unige:73325, University of Geneva, Paul Bairoch Institute of Economic History.
    6. Altamura, Carlo Edoardo & Flores Zendejas, Juan, 2016. "On the Origins of Moral Hazard: Politics, International Finance and the Latin American Debt Crisis of 1982," Working Papers unige:82509, University of Geneva, Paul Bairoch Institute of Economic History.
    7. Danny Cassimon & Dennis Essers & Karel Verbeke, 2017. "Sovereign Debt Workouts: Quo Vadis?," BeFinD Policy Briefs 4, University of Namur, Department of Economics.
    8. Consiglio Andrea & Zenios Stavros A., 2018. "Contingent Convertible Bonds for Sovereign Debt Risk Management," Journal of Globalization and Development, De Gruyter, vol. 9(1), pages 1-24, June.
    9. Sayantan Ghosal & Marcus Miller, 2019. "Introduction to the special issue on sovereign debt restructuring," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 309-319.
    10. Trebesch, Christoph, 2015. "Kurzgutachten zu Staatsschuldenkrisen," Working Papers 06/2015, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.
    11. Busch, Berthold & Matthes, Jürgen, 2015. "Ein Staatsinsolvenzverfahren für den Euroraum," IW policy papers 23/2015, Institut der deutschen Wirtschaft (IW) / German Economic Institute.

  47. Ugo Panizza & Andrea Filippo Presbitero, 2013. "Public Debt and Economic Growth in Advanced Economies: A Survey," Mo.Fi.R. Working Papers 78, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

    Cited by:

    1. Nazmus Sadat Khan, 2016. "In search of causality between debt and growth: a graph theoretic approach," Economics Bulletin, AccessEcon, vol. 36(2), pages 677-687.
    2. Alfred Greiner, 2015. "Fiscal and Monetary Policy in a Basic Endogenous Growth Model," Computational Economics, Springer;Society for Computational Economics, vol. 45(2), pages 285-301, February.
    3. Muhammad Dawood & Zhao Rui Feng & Muhammad Ilyas & Ghulam Abbas, 2024. "External Debt, Transmission Channels, and Economic Growth: Evidence of Debt Overhang and Crowding-Out Effect," SAGE Open, , vol. 14(3), pages 21582440241, July.
    4. Marta Gómez-Puig & Simón Sosvilla-Rivero, 2015. "On the bi-directional causal relationship between public debt and economic growth in EMU countries," Working Papers 15-06, Asociación Española de Economía y Finanzas Internacionales.
    5. Mara Leticia Rojas & María María Ibáñez Martín & Carlos Dabús, 2023. "Is Debt Always Harmful for Economic Growth? Evidence from Developing Countries," Working Papers 292, Red Nacional de Investigadores en Economía (RedNIE).
    6. Paulo Cesar Pereira de Assuncao & João Eudes Bezerra Filho, 2020. "Budget Revenue Forecasts, Errors and Impact on the Indebtedness of the Municipalities of Maranhão," New Challenges in Accounting and Finance, EUROKD, vol. 4, pages 41-57.
    7. Guo, Minjie & McDermott, John, 2020. "Sovereign debt and the length of economic depressions," Economic Modelling, Elsevier, vol. 90(C), pages 79-91.
    8. İbrahim Özmen & Mihai Mutascu, 2024. "Public Debt and Growth: New Insights," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 8706-8736, June.
    9. Magdalena Osińska & Tadeusz Kufel & Marcin Błażejowski & Paweł Kufel, 2020. "Modeling mechanism of economic growth using threshold autoregression models," Empirical Economics, Springer, vol. 58(3), pages 1381-1430, March.
    10. John Bosco Nnyanzi & John Bosco Oryema & Nicholas Kilimani, 2022. "Real exchange rate undervaluation, regional integration and services sector performance: evidence from the East African Community," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 11(1), pages 1-23, December.
    11. Mattia Guerini & Alessio Moneta & Mauro Napoletano & Andrea Roventini, 2018. "The janus-faced nature of debt: results from a data-driven cointegrated svar approach," Sciences Po Economics Publications (main) hal-03471585, HAL.
    12. Megersa, kelbesa & Cassimon, Danny, 2016. "Debt Sustainability and direction of trade: What does Africa’s shifting engagement with BRIC and OECD tells us?," MPRA Paper 76581, University Library of Munich, Germany.
    13. Mr. Markus Eberhardt & Mr. Andrea F Presbitero, 2013. "This Time They Are Different: Heterogeneity and Nonlinearity in the Relationship Between Debt and Growth," IMF Working Papers 2013/248, International Monetary Fund.
    14. Daisuke Miyashita, 2023. "Public debt and income inequality in an endogenous growth model with elastic labor supply," International Journal of Economic Policy Studies, Springer, vol. 17(2), pages 447-472, August.
    15. Asteriou, Dimitrios & Koufopoulos, Dimitrios & Spanos, Konstantinos, 2025. "Conditional forecast for public debt and threshold effects: Evidence from South EU countries," The Journal of Economic Asymmetries, Elsevier, vol. 32(C).
    16. Muhammad Dawood & Zhao Rui Feng & Mingxing Li & Fayaz Hussain Tunio & Noah Cheruiyot Mutai & Zhong Hua Li, 2026. "Foreign Debt and Economic Growth: The Role of Institutional Quality and Financial Development in Asian Developing Countries," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 34(1), pages 161-182, January.
    17. Pierre Aldama & Jérôme Creel, 2020. "Asymmetric macroeconomic stabilization and fiscal consolidation in the OECD and the Euro Area," Documents de Travail de l'OFCE 2020-09, Observatoire Francais des Conjonctures Economiques (OFCE).
    18. Olugbenga Onafowora & Oluwole Owoye, 2019. "Impact of external debt shocks on economic growth in Nigeria: a SVAR analysis," Economic Change and Restructuring, Springer, vol. 52(2), pages 157-179, May.
    19. Calderon,Cesar & Nguyen,Ha Minh, 2015. "Do capital inflows boost growth in developing countries ? evidence from Sub-Saharan Africa," Policy Research Working Paper Series 7298, The World Bank.
    20. Kim Oosterlinck & Ugo Panizza & W. Mark C. Weidemaier & Mitu Gulati, 2021. "The Odious Haitian Independence Debt," IHEID Working Papers 16-2021, Economics Section, The Graduate Institute of International Studies.
    21. Arnaud Cheron & Kazuo Nishimura & Carine Nourry & Thomas Seegmuller & Alain Venditti, 2019. "Growth and Public Debt: What Are the Relevant Trade‐Offs?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 655-682, March.
    22. Campos, Nauro F. & Karanasos, Menelaos G. & Tan, Bin, 2014. "From Riches to Rags, and Back? Institutional Change, Financial Development and Economic Growth in Argentina since the 1890s," IZA Discussion Papers 8654, IZA Network @ LISER.
    23. Kassouri, Yacouba & Altıntaş, Halil & Alancioğlu, Erdal & Kacou, Kacou Yves Thierry, 2021. "New insights on the debt-growth nexus: A combination of the interactive fixed effects and panel threshold approach," International Economics, Elsevier, vol. 168(C), pages 40-55.
    24. Helmut Herwartz & Christian Ochsner & Hannes Rohloff, 2021. "The Credit Composition of Global Liquidity," MAGKS Papers on Economics 202115, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    25. João Basilio Pereima & Manuela Merki & Fernando Motta Correia, 2016. "Economic Growth And Public Debt: Addressing Unobserved Heterogeneity," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 101, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    26. Rima Aloulou & Maha Kalai & Kamel Helali, 2023. "The symmetric and asymmetric impacts of external debt on economic growth in Tunisia: evidence from linear and nonlinear ARDL models," SN Business & Economics, Springer, vol. 3(7), pages 1-28, July.
    27. Borissov, Kirill & Kalk, Andrei, 2020. "Public debt, positional concerns, and wealth inequality," Journal of Economic Behavior & Organization, Elsevier, vol. 170(C), pages 96-111.
    28. Rebeca Jimenez-Rodriguez & Araceli Rodríguez-López, 2015. "What happens to the relationship between public debt and economic growth in European countries?," Economics and Business Letters, Oviedo University Press, vol. 4(4), pages 151-160.
    29. Mitze, Timo & Matz, Florian, 2015. "Public debt and growth in German federal states: What can Europe learn?," Journal of Policy Modeling, Elsevier, vol. 37(2), pages 208-228.
    30. Mariarosaria Comunale & Francesco Paolo Mongelli, 2019. "Who did it? A European Detective Story. Was it Real, Financial, Monetary and/or Institutional: Tracking Growth in the Euro Area with an Atheoretical Tool," Bank of Lithuania Working Paper Series 70, Bank of Lithuania.
    31. Ahmed MAAROUFI & Ghazi BOULILA, 2021. "Non-linear effect of public debt on economic growth: The case of Tunisia," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(629), W), pages 121-134, Winter.
    32. David M. Gould & Dror Y. Kenett & Georgi Panterov, 2021. "Multi‐dimensional economic connectivity: benefits, risks, and policy implications," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 6110-6127, October.
    33. Alexander Chudik & Kamiar Mohaddes & M. Hashem Pesaran & Mehdi Raissi, 2013. "Debt, Inflation and Growth: Robust Estimation of Long-Run Effects in Dynamic Panel Data Models," Cambridge Working Papers in Economics 1350, Faculty of Economics, University of Cambridge.
    34. Daniele, SCHILIRO', 2019. "Public debt and growth in Italy:Analysis and policy proposals," MPRA Paper 97950, University Library of Munich, Germany, revised Nov 2019.
    35. De Grauwe, Paul & Foresti, Pasquale & Ji, Yuemei, 2019. "Fiscal Policies in Booms and Busts," CEPR Discussion Papers 13740, Centre for Economic Policy Research.
    36. Cândida Ferreira, 2016. "Debt and Economic Growth in the European Union: A Panel Granger Causality Approach," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 22(2), pages 131-149, May.
    37. Mariarosaria Comunale & Francesco Paolo Mongelli, 2019. "Euro Area Growth and European Institutional Reforms," Bank of Lithuania Occasional Paper Series 24, Bank of Lithuania.
    38. Yannis Dafermos, 2015. "The ‘other half’ of the public debt–economic growth relationship: a note on Reinhart and Rogoff," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 12(1), pages 20-28, April.
    39. Salvatore Dell’Erba & Ricardo Hausmann & Ugo Panizza, 2013. "Debt Levels, Debt Composition, and Sovereign Spreads in Emerging and Advanced Economies," IHEID Working Papers 12-2013, Economics Section, The Graduate Institute of International Studies.
    40. Emilian Dobrescu, 2018. "Functional trinity of public finance in an emerging economy," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 7(1), pages 1-27, December.
    41. Pratibha S. & Krishna Muniyoor, 2025. "India’s Debt Dilemma: Investigating Threshold, Primary Surplus, and Institutional Quality," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 24(4), pages 439-460, December.
    42. Fernanda Cigainski Lisbinski & Heloisa Lee Burnquist, 2024. "Institutions and financial development: Comparative analysis of developed and developing economies," EconomiA, Emerald Group Publishing Limited, vol. 25(2), pages 347-376, May.
    43. María del Carmen Ramos-Herrera & Simón Sosvilla-Rivero, 2016. "Public debt and economic growth: An empirical evaluation," Working Papers 16-06, Asociación Española de Economía y Finanzas Internacionales.
    44. Yener Coskun & Unal Seven & H. Murat Ertugrul & Talat Ulussever, 2017. "Capital market and economic growth nexus: Evidence from Turkey," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 17(1), pages 19-29.
    45. Di Sanzo Silvestro & Bella Mariano, 2015. "Public debt and growth in the euro area: evidence from parametric and nonparametric Granger causality," The B.E. Journal of Macroeconomics, De Gruyter, vol. 15(2), pages 631-648, July.
    46. Grobéty, Mathieu, 2018. "Government debt and growth: The role of liquidity," Journal of International Money and Finance, Elsevier, vol. 83(C), pages 1-22.
    47. Hongsheng Lin & Yingjia Hu, 2025. "Does Local Government Debt Reduce Urban Economic Inequality? Evidence from Chinese Cities," Sustainability, MDPI, vol. 17(16), pages 1-20, August.
    48. Vassilis Monastiriotis, 2014. "(When) Does Austerity Work? On the Conditional Link between Fiscal Austerity and Debt Sustainability," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 8(1), pages 71-92, June.
    49. Gould, David M. & Panterov, Georgi, 2017. "Multidimensional connectivity: Why the interplay of international connections matters for knowledge transfers," Journal of Policy Modeling, Elsevier, vol. 39(4), pages 699-711.
    50. Bettina Fincke & Alfred Greiner, 2015. "Public Debt and Economic Growth in Emerging Market Economies," South African Journal of Economics, Economic Society of South Africa, vol. 83(3), pages 357-370, September.
    51. Cecilia CIOCÎRLAN & Bianca Roxana SALAGEANU (ȘOLDAN) & Andreea STANCEA & Victor CIUCIUC, 2024. "Macroeconomic Prospects for Public Finance Management Sustainability: An Econometric Approach for Debt in Central and Eastern European Countries," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 5(6), pages 54-67, June.
    52. Chudik, A. & Pesaran, H. & Mohaddes, K., 2018. "Identifying Global and National Output and Fiscal Policy Shocks Using a GVAR," Cambridge Working Papers in Economics 1874, Faculty of Economics, University of Cambridge.
    53. Marco J. Lombardi & Madhusudan Mohanty & Ilhyock Shim, 2022. "The relationship of household debt and growth in the short and long run," Empirical Economics, Springer, vol. 63(4), pages 1887-1911, October.
    54. Guillaume Guex & Sébastien Guex, 2018. "Debt, economic growth, and interest rates: an empirical study of the Swiss case, presenting a new long-term dataset: 1894–2014," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 154(1), pages 1-13, December.
    55. A. Fatas & Mr. Atish R. Ghosh & Ugo Panizza & Mr. Andrea F Presbitero, 2019. "The Motives to Borrow," IMF Working Papers 2019/101, International Monetary Fund.
    56. Barry Eichengreen & Ugo Panizza, 2014. "A Surplus of Ambition: Can Europe Rely on Large Primary Surpluses to Solve its Debt Problem?," NBER Working Papers 20316, National Bureau of Economic Research, Inc.
    57. Georgios Magkonis & Anastasia Theofilakou, 2019. "Transmission of sectoral debt shocks in OECD countries: Evidence from the income channel," Working Papers in Economics & Finance 2019-02, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    58. Megersa, kelbesa, 2014. "The laffer curve and the debt-growth link in low-income Sub-Saharan African economies," MPRA Paper 54362, University Library of Munich, Germany.
    59. Venkatesh, Hari & Hiremath, Gourishankar S., 2025. "Currency exposure and economic growth: Friend or foe?," International Economics, Elsevier, vol. 183(C).
    60. Gianluca Cafiso & Roberto Cellini, 2022. "Market-Induced Fiscal Discipline in Europe," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 8(2), pages 259-287, July.
    61. Carmen M. Reinhart & Christoph Trebesch, 2015. "Sovereign Debt Relief and its Aftermath," CESifo Working Paper Series 5422, CESifo.
    62. Mindaugas Butkus & Diana Cibulskiene & Lina Garsviene & Janina Seputiene, 2021. "The Heterogeneous Public Debt–Growth Relationship: The Role of the Expenditure Multiplier," Sustainability, MDPI, vol. 13(9), pages 1-22, April.
    63. Vipul Bhatt & Andre R. Neveu, 2014. "Re-thinking debt burden: Going with the Flow?," Keio-IES Discussion Paper Series 2014-004, Institute for Economics Studies, Keio University.
    64. Amaia Altuzarra & Ricardo Bustillo & Carlos Rodríguez, 2022. "Does the monetary policy regime matter in the effect of credit on growth?," International Finance, Wiley Blackwell, vol. 25(3), pages 341-374, December.
    65. Obiyathulla Ismath Bacha, Abbas Mirakhor, Hossein Askari, 2015. "Risk Sharing in Corporate and Public Finance: The Contribution of Islamic Finance," PSL Quarterly Review, Economia civile, vol. 68(274), pages 187-213.
    66. De Vita, Glauco & Trachanas, Emmanouil & Luo, Yun, 2018. "Revisiting the bi-directional causality between debt and growth: Evidence from linear and nonlinear tests," Journal of International Money and Finance, Elsevier, vol. 83(C), pages 55-74.
    67. Bofinger, Peter & Buch, Claudia M. & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2013. "Gegen eine rückwärtsgewandte Wirtschaftspolitik. Jahresgutachten 2013/14 [Against a backward-looking economic policy. Annual Report 2013/14]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201314.
    68. MARGARITA Ilinca & RASDULESCU Magdalena & LUCIAN Paul, 2022. "The Impact Of Macroeconomic Developments On Exports Of The Central And Eastern European Countries," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 74(4), pages 50-63, December.
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    149. Mindaugas Butkus & Diana Cibulskiene & Lina Garsviene & Janina Seputiene, 2022. "Role of Uncertainty in Debt-Growth Nexus," Prague Economic Papers, Prague University of Economics and Business, vol. 2022(1), pages 58-78.
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    161. Thouraya Bahri & Aditya Singh, 2021. "COVID-19 and the Impact on Debt: Policy Implications," Working Papers 2107, New School for Social Research, Department of Economics.
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    Cited by:

    1. Jean Arcand & Enrico Berkes & Ugo Panizza, 2015. "Too much finance?," Journal of Economic Growth, Springer, vol. 20(2), pages 105-148, June.
    2. Alberto BUCCI & Simone MARSIGLIO, 2016. "Financial Development and Economic Growth: Long Run Equilibrium and Transitional Dynamics," Departmental Working Papers 2016-16, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    3. Richard E. Itaman, 2022. "The finance‐growth nexus enigma: Bringing in institutional context and the productiveness debate," Journal of Economic Surveys, Wiley Blackwell, vol. 36(2), pages 504-527, April.
    4. Martínez-Jaramillo, Serafín & Montañez-Enríquez, Ricardo & Ossandon Busch, Matias & Ramos-Francia, Manuel & Rodríguez-Martínez, Anahí & Sánchez-Martínez, Manuel, 2022. "Stress-ridden finance and growth losses: Does financial development break the link?," IWH Discussion Papers 3/2022, Halle Institute for Economic Research (IWH).
    5. Montañez-Enríquez, Ricardo & Ossandon Busch, Matias & Ramos-Francia, Manuel, 2024. "Untangling the finance-growth nexus: The dual role of financial development in the transmission of shocks," Emerging Markets Review, Elsevier, vol. 63(C).

  49. Ugo Panizza & Andrea Filippo Presbitero, 2012. "Public Debt and Economic Growth: Is There a Causal Effect?," Mo.Fi.R. Working Papers 65, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

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    1. Nazmus Sadat Khan, 2016. "In search of causality between debt and growth: a graph theoretic approach," Economics Bulletin, AccessEcon, vol. 36(2), pages 677-687.
    2. Marta Marson & Donatella Saccone & Elena Vallino, 2023. "Total trade, cereals trade and undernourishment: new empirical evidence for developing countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 159(2), pages 299-332, May.
    3. Carvelli, Gianni & Trecroci, Carmine, 2021. "Is government debt good or bad for labor productivity? A dynamic panel analysis over 1972-2019," MPRA Paper 108314, University Library of Munich, Germany.
    4. Marco Cozzi, 2022. "Public Debt and Welfare in a Quantitative Schumpeterian Growth Model With Incomplete Markets," Department Discussion Papers 2006, Department of Economics, University of Victoria.
    5. Ibrahim Ari & Muammer Koc, 2018. "Sustainable Financing for Sustainable Development: Understanding the Interrelations between Public Investment and Sovereign Debt," Sustainability, MDPI, vol. 10(11), pages 1-25, October.
    6. Sam Kris Hilton & Vida Aba Essuman & Ebenezer Dzinpa Effisah & Andaratu Achuliwor Khalid, 2025. "State Borrowing and Electricity Tariff in an Emerging Economy: Post-COVID-19 Experience," JRFM, MDPI, vol. 18(4), pages 1-12, April.
    7. Séverine MENGUY, 2019. "Does public indebtedness constrain or can it favor economic growth? A simple analytical modeling," Bulletin of Applied Economics, Risk Market Journals, vol. 6(2), pages 1-29.
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    541. Stefanos Ioannou & Dariusz Wójcik, 2021. "Finance and growth nexus: An international analysis across cities," Urban Studies, Urban Studies Journal Limited, vol. 58(1), pages 223-242, January.
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  51. Fortunato, Piergiuseppe & Panizza, Ugo, 2011. "Democracy, education and the quality of government," POLIS Working Papers 155, Institute of Public Policy and Public Choice - POLIS.

    Cited by:

    1. Baltrunaite, Audinga & Bello, Piera & Casarico, Alessandra & Profeta, Paola, 2014. "Gender quotas and the quality of politicians," Journal of Public Economics, Elsevier, vol. 118(C), pages 62-74.
    2. Paul Pelzl & Steven Poelhekke, 2023. "Democratization, leader education and growth: firm-level evidence from Indonesia," Journal of Economic Growth, Springer, vol. 28(4), pages 571-600, December.
    3. Muhammad Ayyoub & Julia Wörz, 2021. "Inflation‐growth nexus in developing economies: New empirical evidence from a disaggregated approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 241-257, January.
    4. Mitu Gulati & Ugo Panizza, 2018. "Maduro Bonds," IHEID Working Papers 12-2018, Economics Section, The Graduate Institute of International Studies.
    5. Olayinka Oyekola & Olabambo Oluwasuji, 2026. "Resource Windfalls and the Accumulation of Productive Capabilities," Discussion Papers 2608, University of Exeter, Department of Economics.
    6. Donal Ajoumessi Houmpe & Ngouhouo Ibrahim, 2020. "The effect of African leaders' foreign education/training on the completion of primary education in their countries," Economics Bulletin, AccessEcon, vol. 40(4), pages 3241-3255.
    7. Ezcurra, Roberto & Zuazu, Izaskun, 2019. "Political equality and quality of government," MPRA Paper 96476, University Library of Munich, Germany.
    8. Papagni, Erasmo & Baraldi, Anna Laura & Alfano, Maria Rosaria, 2023. "Ballot structure and political selection. Evidence from changes in electoral rules," Journal of Comparative Economics, Elsevier, vol. 51(1), pages 324-347.
    9. Pierre André & Paul Maarek, 2017. "Education, social capital and political participation Evidence from school construction in Malian villages," Thema Working Papers 2017-18, THEMA (Théorie Economique, Modélisation et Applications), CY Cergy-Paris University, ESSEC and CNRS.
    10. Oyekola, Olayinka & Emediegwu, Lotanna E. & Animashaun, Jubril O., 2024. "Commodity windfalls, political regimes, and environmental quality," Energy Economics, Elsevier, vol. 138(C).
    11. Kotschy, Rainer & Sunde, Uwe, 2017. "Democracy, inequality, and institutional quality," European Economic Review, Elsevier, vol. 91(C), pages 209-228.
    12. Krieger, Tommy, 2022. "Democracy and the quality of economic institutions: Theory and evidence," ZEW Discussion Papers 22-032, ZEW - Leibniz Centre for European Economic Research.
    13. Baraldi, Anna Laura & Cantabene, Claudia & De Iudicibus, Alessandro & Fosco, Giovanni & Papagni, Erasmo, 2025. "Shocks and Selection: How Earthquakes Shape Local Political Representation," MPRA Paper 125061, University Library of Munich, Germany, revised 18 Jun 2025.
    14. Krieger, Tommy, 2019. "Democracy and institutional quality: Theory and Evidence," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203507, Verein für Socialpolitik / German Economic Association.
    15. Piergiuseppe Fortunato & Marco Pecoraro, 2020. "Yes, The Medium Matters: How Facebook and Twitter boost Populism in Europe," IRENE Working Papers 20-01, IRENE Institute of Economic Research.
    16. Anna Laura Baraldi & Giovanni Immordino & Marco Stimolo, 2020. "Mafia Wears Out Women in Power: Evidence from Italian Municipalities," CSEF Working Papers 586, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    17. Alessandro Belmonte, 2021. "Sophisticated electoral accountability," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 92(2), pages 233-260, June.
    18. M. Rodwan Abouharb & David Cingranelli & Mikhail Filippov, 2019. "Too Many Cooks: Multiple International Principals Can Spoil the Quality of Governance," Social Sciences, MDPI, vol. 8(5), pages 1-22, May.
    19. Tommy Krieger, 2022. "Democracy and the quality of economic institutions: theory and evidence," Public Choice, Springer, vol. 192(3), pages 357-376, September.
    20. Piergiuseppe Fortunato, 2015. "Democratic Government and Development: A Survey," Asian Development Review, MIT Press, vol. 32(2), pages 153-177, September.
    21. Piergiuseppe Fortunato & Marco Pecoraro, 2022. "Social media, education, and the rise of populist Euroscepticism," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 9(1), pages 1-13, December.
    22. Łukasz Goczek & Ewa Witkowska & Bartosz Witkowski, 2021. "How Does Education Quality Affect Economic Growth?," Sustainability, MDPI, vol. 13(11), pages 1-22, June.
    23. Daniel Albalate & Germà Bel, 2018. "“Do government formation deadlocks damage economic growth? Evidence from history’s longest period of political deadlock”," IREA Working Papers 201817, University of Barcelona, Research Institute of Applied Economics, revised Jul 2018.
    24. Piergiuseppe Fortunato & Ugo Panizza, 2015. "Democracy, education and the quality of government," Journal of Economic Growth, Springer, vol. 20(4), pages 333-363, December.
    25. Mizuno, Nobuhiro & Okazawa, Ryosuke, 2025. "A dynamic theory on clientelism and bureaucratic development," Journal of Development Economics, Elsevier, vol. 174(C).
    26. Roberto Ezcurra & Izaskun Zuazu, 2022. "Political equality and quality of government," Kyklos, Wiley Blackwell, vol. 75(2), pages 269-293, May.
    27. Williams, Kevin, 2017. "Do remittances improve political institutions? Evidence from Sub-Saharan Africa," Economic Modelling, Elsevier, vol. 61(C), pages 65-75.
    28. Antonio Acconcia & Carla Ronza, 2021. "The Stability Effect of Elected Women: Gender or Seniority?," CSEF Working Papers 611, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 15 Feb 2023.
    29. Baraldi, Anna Laura & Immordino, Giovanni & Stimolo, Marco, 2022. "Self-selecting candidates or compelling voters: How organized crime affects political selection," European Journal of Political Economy, Elsevier, vol. 71(C).
    30. Piergiuseppe Fortunato & Tanmay Singh & Marco Pecoraro, 2024. "From Rhetoric to Reality: How Ideology, History and Geography shape Populism's Economic Footprint," IRENE Working Papers 24-02, IRENE Institute of Economic Research.
    31. Alfano, Maria Rosaria & Baraldi, Anna Laura & Papagni, Erasmo, "undated". "Do Voters Choose Better Politicians than Political Parties? Evidence from a Natural Experiment in Italy," FACTS: Firms And Cities Towards Sustainability 308020, Fondazione Eni Enrico Mattei (FEEM) > FACTS: Firms And Cities Towards Sustainability.
    32. Acconcia, Antonio & Ronza, Carla, 2026. "The stabilizing effect of elected women and political seniority," European Journal of Political Economy, Elsevier, vol. 93(C).
    33. Ozana Nadoveza Jelic & Margareta Gardijan Kedzo, 2018. "Efficiency vs effectiveness: an analysis of tertiary education across Europe," Public Sector Economics, Institute of Public Finance, vol. 42(4), pages 381-414.
    34. Elena Sochirca & Francisco José Veiga, 2018. "Key determinants of elite rivalry: theoretical insights and empirical evidence," NIPE Working Papers 02/2018, NIPE - Universidade do Minho.
    35. Kimiko Terai & Amihai Glazer, 2019. "Why principals tolerate biases of inaccurate agents," Economics and Politics, Wiley Blackwell, vol. 31(1), pages 97-111, March.

  52. Forslund, Kristine & Lima, Lycia & Panizza, Ugo, 2011. "The determinants of the composition of public debt in developing and emerging market countries," POLIS Working Papers 156, Institute of Public Policy and Public Choice - POLIS.

    Cited by:

    1. Bayale, Nimonka & Tchagnao, Abdou-Fataou & Chavula, Hopestone Kayiska, 2020. "More elections, more burden? On the relationship between elections and public debt in Africa," MPRA Paper 101744, University Library of Munich, Germany.
    2. Sagnik Bagchi & Sayantan Bandhu Majumder, 2025. "Social trust and formal institutions: How do they shape public debt?," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 33(3), pages 519-552, July.
    3. Alfredo Monte & Luca Pennacchio, 2020. "Corruption, Government Expenditure and Public Debt in OECD Countries," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 62(4), pages 739-771, December.
    4. Abdul Waheed, 2017. "Determinants of External Debt: A Panel Data Analysis for Oil and Gas Exporting and Importing Countries," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 7(1), pages 234-240.
    5. Ampofo, Gideon Minua Kwaku & Jinhua, Cheng & Bosah, Philip Chukwunonso & Ayimadu, Edwin Twum & Senadzo, Patrick, 2021. "Nexus between total natural resource rents and public debt in resource-rich countries:A panel data analysis," Resources Policy, Elsevier, vol. 74(C).
    6. Condea Bogdan Virgil & Harangus Daniela, 2014. "Impact Of The Global Financial Crisis On Sovereign Debt In The European Union," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 719-727, July.
    7. Agnello, Luca & Sousa, Ricardo M., 2015. "Can re-regulation of the financial sector strike back public debt?," Economic Modelling, Elsevier, vol. 51(C), pages 159-171.
    8. Grobéty, Mathieu, 2018. "Government debt and growth: The role of liquidity," Journal of International Money and Finance, Elsevier, vol. 83(C), pages 1-22.
    9. Abdul Aziz Bin Karia, 2021. "Are there any turning points for external debt in Malaysia? Case of adaptive neuro-fuzzy inference systems model," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 10(1), pages 1-16, December.
    10. Serkan Arslanalp & Tigran Poghosyan, 2016. "Foreign Investor Flows and Sovereign Bond Yields in Advanced Economies," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(6), pages 45-67, June.
    11. Kevin Bica & Erinda Imeraj, 2024. "Assessment of Public Debt Drivers in the Balkans," Journal of Financial Studies, Institute of Financial Studies, vol. 16(9), pages 52-67, May.
    12. Joaquin Vespignani & Monoj Kumar Majumder & Mala Raghavan, 2021. "Impact of Commodity Price Volatility on External Debt: The Role of Exchange Rate Regimes," Working Papers hal-03106698, HAL.
    13. Debi Prasad Bal & Badri Narayan Rath, 2018. "Do Macroeconomics Channels Matter for Examining Relationship Between Public Debt and Economic Growth in India?," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 16(1), pages 121-142, December.
    14. Paola Di Casola & Spyridon Sichlimiris, 2025. "Domestic And External Sovereign Debt," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(3), pages 1207-1238, August.
    15. Swamy, Vighneswara, 2015. "Government Debt and its Macroeconomic Determinants – An Empirical Investigation," MPRA Paper 64106, University Library of Munich, Germany.
    16. Marwa Sahnoun & Chokri Abdennadher, 2018. "The assessment of active labor market policies: evidence from OECD countries," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 35(2), pages 257-283, August.
    17. Monoj Kumar Majumder & Mala Raghavan & Joaquin Vespignani, 2020. "Commodity Price Volatility, External Debt and Exchange Rate Regimes," Working Papers hal-03078951, HAL.
    18. Saputro, Agung Eddy Suryo & Lukiswati, Intan & Soleh, Agus M Soleh & Andriansyah, Andriansyah, 2018. "Pemodelan Spasial Rasio Utang Pemerintah di Negara G20 Tahun 2003-2017 [Spatial Modelling Government Debt Ratios in G20 Countries 2003-2017]," MPRA Paper 105233, University Library of Munich, Germany.
    19. Debi Prasad Bal & Badri Narayan Rath, 2016. "Is Public Debt a Burden for India?," Economic Papers, The Economic Society of Australia, vol. 35(2), pages 184-201, June.
    20. Olumide Olusegun Olaoye & Mosab I. Tabash & Olatunde Julius Omokanmi & Rotimi Ayoade Ogunjumo & Matthew Oyeleke Ojelade & James A. Ishola, 2022. "Macroeconomic implications of escalating stock of public debt: Evidence from sub‐Saharan African economies," African Development Review, African Development Bank, vol. 34(4), pages 527-540, December.
    21. Gnangnon, Sèna Kimm, 2021. "Tax reform and public debt instability in developing countries: The trade openness and public revenue instability channels," Economic Analysis and Policy, Elsevier, vol. 69(C), pages 54-67.
    22. Wang, Wencheng & Ning, Zinan & Shu, Yang & Riti, Joshua Sunday & Riti, Miriam-Kamah J., 2023. "Natural resource rents and public debts nexus in African resource-rich and most indebted nations: Issues with aggregation bias," Resources Policy, Elsevier, vol. 82(C).
    23. Mihaela Simionescu & Javier Cifuentes-Faura, 2024. "Public Debt in the Spanish Municipalities: Drivers and Policy Proposals," Evaluation Review, , vol. 48(4), pages 547-578, August.
    24. Mr. Jesus R Gonzalez-Garcia & Mr. Francesco Grigoli, 2013. "State-Owned Banks and Fiscal Discipline," IMF Working Papers 2013/206, International Monetary Fund.
    25. Hlongwane, Nyiko Worship & Daw, Olebogeng David, 2022. "Determinants of public debt in South Africa: A Regime-Switching Approach," MPRA Paper 113203, University Library of Munich, Germany.
    26. González-Fernández, Marcos & González-Velasco, Carmen, 2014. "Shadow economy, corruption and public debt in Spain," Journal of Policy Modeling, Elsevier, vol. 36(6), pages 1101-1117.
    27. Abiola John Asaleye* & Adenike Omowumi Oladipo & Barnabas Olusegun Obasaju, 2018. "Domestic Debt Sustainability and Private Sector in Nigeria: Implications on Employment," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 842-848:5.
    28. Khansa Zaman & Muhammad Saeed Rana & Umer Iftikhar, 2019. "A Multilevel Analysis of Job Demands and Intention to Resign Through Perceived Service Recovery Performance," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 67-82, June.
    29. Muhanji, Stella & Ojah, Kalu, 2016. "Governance infrastructure and indebtedness of African countries: Do regional blocs matter?," The North American Journal of Economics and Finance, Elsevier, vol. 36(C), pages 123-153.
    30. Daxin Dong, 2021. "The impact of financial openness on public debt in developing countries," Empirical Economics, Springer, vol. 60(5), pages 2261-2291, May.
    31. Germaschewski, Yin, 2020. "Stabilization policy, infrastructure investment, and welfare in a small open economy," Economic Modelling, Elsevier, vol. 84(C), pages 322-339.
    32. Samia OMRANE BELGUITH & Hanen OMRANE, 2017. "Macroeconomic determinants of public debt growth: A case study for Tunisia," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(613), W), pages 161-168, Winter.
    33. Kathrin Berensmann & Florence Dafe & Ulrich Volz, 2015. "Developing local currency bond markets for long-term development financing in Sub-Saharan Africa," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 31(3-4), pages 350-378.
    34. Eftychia Nikolaidou, 2016. "The role of military expenditure and arms imports in the Greek debt crisis," Economics of Peace and Security Journal, EPS Publishing, vol. 11(1), pages 18-27, April.
    35. Di Casola, Paola & Sichlimiris, Spyridon, 2017. "Domestic and External Sovereign Debt," Working Paper Series 345, Sveriges Riksbank (Central Bank of Sweden).
    36. Agnieszka Kozera & Aldona Standar & Łukasz Satoła, 2020. "Managing Rural Areas in the Context of the Growing Debt of Polish Local Government Units," Agriculture, MDPI, vol. 10(9), pages 1-25, August.
    37. Constance de Soyres & Anna Rogantini Picco & Miss Randa Sab, 2019. "Debt Build-up in Frontier Low-Income Developing Countries (LIDCs) since 2012: Global or Country-specific Factors and Way Forward?," IMF Working Papers 2019/037, International Monetary Fund.
    38. Marwa Sahnoun & Chokri Abdennadher, 2022. "Returns to Investment in Education in the OECD Countries: Does Governance Quality Matter?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(3), pages 1819-1842, September.
    39. Pratibha, S. & Sharma, Vishal & Krishna, M., 2024. "Nexus between total natural resource rents and public debt within symmetric and asymmetric framework: Fresh insight from resource-rich economy," Resources Policy, Elsevier, vol. 93(C).
    40. Muhammad Jalib Sikandar & Fazale Wahid, 2019. "Debt and Economic Growth of Pakistan; Role of Uncertain Economic and Political Conditions," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 11(2), pages 83-106, June.
    41. Essers, Dennis & Blommestein, Hans & Cassimon, Danny & Ibarlucea Flores, Perla, 2015. "Local currency bond market development in Sub-Saharan Africa: A stock-taking exercise and analysis of key drivers," MPRA Paper 65320, University Library of Munich, Germany, revised Jun 2015.

  53. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2010. "International Government Debt," Business School Working Papers 2010-03, Universidad Torcuato Di Tella.

    Cited by:

    1. David Bicchetti & Nicolas Maystre, 2012. "The Synchronized And Long-Lasting Structural Change On Commodity Markets: Evidence From High Frequency Data," UNCTAD Discussion Papers 208, United Nations Conference on Trade and Development.
    2. Stephany Griffith-Jones, 2014. "A Brics Development Bank: A Dream Coming True?," UNCTAD Discussion Papers 215, United Nations Conference on Trade and Development.
    3. Bernardin Senadza & Agbemavor Korsi Fiagbe & Peter Quartey, 2017. "The Effect of External Debt on Economic Growth in Sub-Saharan Africa," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 11(1), pages 61-69, December.
    4. Peter Bofinger, 2011. "The Scope For Foreign Exchange Market Interventions," UNCTAD Discussion Papers 204, United Nations Conference on Trade and Development.
    5. André Nassif & Carmem Feijó & Eliane Araújo, 2013. "Structural Change And Economic Development: Is Brazil Catching Up Or Falling Behind?," UNCTAD Discussion Papers 211, United Nations Conference on Trade and Development.
    6. Alessandro Missale & Emanuele Bacchiocchi, 2012. "Multilateral Indexed Loans And Debt Sustainability," UNCTAD Discussion Papers 209, United Nations Conference on Trade and Development.
    7. Carlos M. Correa, 2015. "Intellectual property: How much room is left for industrial policy?," UNCTAD Discussion Papers 223, United Nations Conference on Trade and Development.
    8. Vladimir Filimonov & David Bicchetti & Nicolas Maystre, 2013. "Quantification of the High Level of Endogeneity and of Structural Regime Shifts in Commodity Markets," UNCTAD Discussion Papers 212, United Nations Conference on Trade and Development.
    9. Andrew Cornford, 2014. "Macroprudential Regulation: Potential Implications For Rules For Cross-Border Banking," UNCTAD Discussion Papers 216, United Nations Conference on Trade and Development.
    10. André Nassif & Carmem Feijó & Eliane Araújo, 2011. "The Long-Term “Optimal” Real Exchange Rate And The Currency Overvaluation Trend In Open Emerging Economies: The Case Of Brazil," UNCTAD Discussion Papers 206, United Nations Conference on Trade and Development.
    11. Pilar Fajarnes, 2011. "An Overview Of Major Sources Of Data And Analyses Relating To Physical Fundamentals In International Commodity Markets," UNCTAD Discussion Papers 202, United Nations Conference on Trade and Development.
    12. Ulrich Hoffmann, 2015. "Can green growth really work and what are the true (socio-)economics of Climate Change?," UNCTAD Discussion Papers 222, United Nations Conference on Trade and Development.
    13. Shigehisa Kasahara, 2013. "The Asian Developmental State And The Flying Geese Paradigm," UNCTAD Discussion Papers 213, United Nations Conference on Trade and Development.
    14. Jörg Mayer, 2013. "Towards More Balanced Growth Strategies In Developing Countries: Issues Related To Market Size, Trade Balances And Purchasing Power," UNCTAD Discussion Papers 214, United Nations Conference on Trade and Development.
    15. Jörg Mayer, 2010. "Global Rebalancing: Effects On Trade Flows And Employment," UNCTAD Discussion Papers 200, United Nations Conference on Trade and Development.
    16. Amelia U. Santos-Paulino, 2012. "Trade, Income Distribution And Poverty In Developing Countries: A Survey," UNCTAD Discussion Papers 207, United Nations Conference on Trade and Development.
    17. Giovanni Andrea Cornia & Bruno Martorano, 2012. "Development Policies and Income Inequality in Selected Developing Regions, 1980–2010," UNCTAD Discussion Papers 210, United Nations Conference on Trade and Development.
    18. Omodero Cordelia Onyinyechi, 2019. "External Debt Financing and Public Capital Investment in Nigeria: A Critical Evaluation," Economics and Business, Paradigm, vol. 33(1), pages 111-126, January.
    19. Javier Lindenboim & Damián Kennedy & Juan M. Graña, 2011. "Share Of Labour Compensation And Aggregate Demand – Discussions Towards A Growth Strategy," UNCTAD Discussion Papers 203, United Nations Conference on Trade and Development.

  54. Ricardo Hausmann & Ugo Panizza, 2010. "Redemption or Abstinence? Original Sin, Currency Mismatches and Counter-Cyclical Policies in the New Millenium," CID Working Papers 194, Center for International Development at Harvard University.

    Cited by:

    1. Mika Nieminen, 2017. "Patterns of international capital flows and their implications for developing countries," WIDER Working Paper Series wp-2017-171, World Institute for Development Economic Research (UNU-WIDER).
    2. Cortina Lorente,Juan Jose & Didier Brandao,Tatiana & Schmukler,Sergio L., 2020. "Global Corporate Debt during Crises : Implications of Switching Borrowing across Markets," Policy Research Working Paper Series 9142, The World Bank.
    3. Marc Pourroy, 2013. "Inflation-Targeting and Foreign Exchange Interventions in Emerging Economies," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00881359, HAL.
    4. Joshua Aizenman & Hiro Ito, 2020. "Post COVID-19 Exit Strategies and Emerging Markets Economic Challenges," NBER Working Papers 27966, National Bureau of Economic Research, Inc.
    5. Francesca Castellani & Marcelo Olarreaga & Ugo Panizza & Yue Zhou, 2018. "Investment Gaps in IDB Borrowing Countries," IHEID Working Papers 03-2018, Economics Section, The Graduate Institute of International Studies.
    6. Jean-Pierre Allegret, 2012. "Responses of Monetary Authorities in Emerging Economies to International Financial Crises: What Do We Really Know?," Post-Print hal-01385893, HAL.
    7. Galindo, Arturo & Panizza, Ugo, 2017. "The Cyclicality of International Public Sector Borrowing in Developing Countries: Does the Lender Matter?," CEPR Discussion Papers 12243, Centre for Economic Policy Research.
    8. Ulke, Dominik, 2026. "Facilitator or inhibitor?," International Review of Economics & Finance, Elsevier, vol. 106(C).
    9. Daniel Gersten Reiss, 2015. "Invoice Currency: puzzling evidence and new questions from Brazil," Working Papers Series 382, Central Bank of Brazil, Research Department.
    10. Josip Tica & Tomislav Globan & Vladimir Arčabić, 2016. "Monetary Policy Effectiveness, Net Foreign Currency Exposure and Financial Globalisation," EFZG Working Papers Series 1603, Faculty of Economics and Business, University of Zagreb.
    11. Saungweme, Talknice & Odhiambo, Nicholas M, 2019. "Relative impact of domestic and foreign public debt on economic growth in South Africa," Working Papers 25664, University of South Africa, Department of Economics.
    12. Salvatore Dell’Erba & Ricardo Hausmann & Ugo Panizza, 2013. "Debt Levels, Debt Composition, and Sovereign Spreads in Emerging and Advanced Economies," IHEID Working Papers 12-2013, Economics Section, The Graduate Institute of International Studies.
    13. M. Ayhan Kose & Sergio Kurlat & Franziska Ohnsorge & Naotaka Sugawara, 2017. "A Cross-Country Database of Fiscal Space," Koç University-TUSIAD Economic Research Forum Working Papers 1713, Koc University-TUSIAD Economic Research Forum.
    14. Georgios Georgiadis & Arnaud Mehl, 2015. "Trilemma, not dilemma: financial globalisation and Monetary policy effectiveness," Globalization Institute Working Papers 222, Federal Reserve Bank of Dallas.
    15. Grobéty, Mathieu, 2018. "Government debt and growth: The role of liquidity," Journal of International Money and Finance, Elsevier, vol. 83(C), pages 1-22.
    16. Kosta Josifidis & Jean-Pierre Allegret & Céline Gimet & Emilija Beker Pucar, 2014. "Macroeconomic policy responses to financial crises in emerging European economies," Post-Print halshs-00976661, HAL.
    17. A. Fatas & Mr. Atish R. Ghosh & Ugo Panizza & Mr. Andrea F Presbitero, 2019. "The Motives to Borrow," IMF Working Papers 2019/101, International Monetary Fund.
    18. Anaya Longaric, Pablo, 2022. "Foreign currency exposure and the financial channel of exchange rates," Working Paper Series 2739, European Central Bank.
    19. Megersa, kelbesa, 2014. "The laffer curve and the debt-growth link in low-income Sub-Saharan African economies," MPRA Paper 54362, University Library of Munich, Germany.
    20. Paul Mizen & Frank Packer & Eli Remolona & Serafeim Tsoukas, 2021. "Original sin in corporate finance: New evidence from Asian bond issuers in onshore and offshore markets," Working Papers 2021_03, Business School - Economics, University of Glasgow.
    21. Ugo Panizza & Andrea F. Presbitero, 2013. "Public Debt and Economic Growth in Advanced Economies: A Survey," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(2), pages 175-204, June.
    22. Combes, Jean-Louis & Minea, Alexandru & Sow, Moussé, 2017. "Is fiscal policy always counter- (pro-) cyclical? The role of public debt and fiscal rules," Economic Modelling, Elsevier, vol. 65(C), pages 138-146.
    23. Renu Kohli & Pravakar Sahoo & M. Shuheb Khan, 2017. "Developing India's Offshore Local Currency Bond Market: Lessons from Emerging Countries," Working Papers id:12039, eSocialSciences.
    24. Shahrzad Ghourchian & Hakan Yilmazkuday, 2020. "Government Consumption, Government Debt and Economic Growth," Working Papers 2003, Florida International University, Department of Economics.
    25. Gegenfurtner, Dennis Andreas, 2021. "The causes of Original Sin: An empirical investigation of emerging market and developing countries," IPE Working Papers 174/2021, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    26. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2023. "Yet it Endures: The Persistence of Original Sin," Open Economies Review, Springer, vol. 34(1), pages 1-42, February.
    27. Scott Régifère Mouandat, 2021. "Optimal debt in Gabon: an analysis in term of foreign currency compositions [La dette optimale au Gabon: une analyse en termes de composition en devises]," Post-Print hal-03326826, HAL.
    28. Georgiadis, Georgios & Mehl, Arnaud, 2016. "Financial globalisation and monetary policy effectiveness," Journal of International Economics, Elsevier, vol. 103(C), pages 200-212.
    29. Saungweme, Talknice & Odhiambo, Nicholas M, 2019. "The impact of domestic and foreign public debt on economic growth: Empirical evidence from Zimbabwe," Working Papers 25663, University of South Africa, Department of Economics.
    30. Hiro Ito & Cesar M. Rodriguez, 2020. "Clamoring for greenbacks: Explaining the resurgence of the U.S. dollar in international debt," International Finance, Wiley Blackwell, vol. 23(3), pages 370-391, December.
    31. Eberhardt, Markus & Presbitero, Andrea F., 2015. "Public debt and growth: Heterogeneity and non-linearity," Journal of International Economics, Elsevier, vol. 97(1), pages 45-58.
    32. Mora, Nada & Neaime, Simon & Aintablian, Sebouh, 2013. "Foreign currency borrowing by small firms in emerging markets: When domestic banks intermediate dollars," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 1093-1107.
    33. Aizenman, Joshua & Chinn, Menzie D. & Ito, Hiro, 2017. "Balance sheet effects on monetary and financial spillovers: The East Asian crisis plus 20," Journal of International Money and Finance, Elsevier, vol. 74(C), pages 258-282.
    34. Hiroyuki ITO & Masahiro KAWAI, 2021. "The Global Monetary System and the Use of Local Currencies in ASEAN+3," Discussion papers 21019, Research Institute of Economy, Trade and Industry (RIETI).
    35. Joshua Aizenman & Menzie D. Chinn & Hiro Ito, 2017. "Financial Spillovers and Macroprudential Policies," NBER Working Papers 24105, National Bureau of Economic Research, Inc.
    36. Raju Huidrom & M. Ayhan Kose & Franziska L. Ohnsorge, 2016. "Challenges of Fiscal Policy in Emerging and Developing Economies," CAMA Working Papers 2016-34, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    37. Andrian, Leandro & Rodriguez, Cesar M. & Valencia, Oscar M., 2025. "Surges in the shadows: Stock-flow adjustments and public debt spikes," Emerging Markets Review, Elsevier, vol. 67(C).
    38. Andreasen, Eugenia & Schindler, Martin & Valenzuela, Patricio, 2015. "Capital Controls and the Cost of Debt," Working Papers 15-02, University of Pennsylvania, Wharton School, Weiss Center.
    39. Minsuk Kim, 2019. "Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence," IMF Working Papers 2019/168, International Monetary Fund.
    40. Metzger, Martina & Taube, Günther, 2010. "The rise of emerging markets' financial market architecture: constituting new roles in the global financial goverancen," MPRA Paper 31433, University Library of Munich, Germany.
    41. Mert Onen & Hyun Song Shin & Goetz von Peter, 2023. "Overcoming original sin: insights from a new dataset," BIS Working Papers 1075, Bank for International Settlements.
    42. Gulati, Mitu & Panizza, Ugo & Weidemaier, Mark & Willingham, Grace, 2019. "When Governments Promise to Prioritize Public Debt: Do Markets Care?," CEPR Discussion Papers 13673, Centre for Economic Policy Research.
    43. Valenzuela, Patricio, 2013. "Rollover Risk and Corporate Bond Spreads," Working Papers 13-10, University of Pennsylvania, Wharton School, Weiss Center.
    44. Ugo Panizza & Andrea Filippo Presbitero, 2012. "Public Debt and Economic Growth: Is There a Causal Effect?," Mo.Fi.R. Working Papers 65, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    45. Mr. Jiaqian Chen & Patrick A. Imam, 2011. "Causes of Asset Shortages in Emerging Markets," IMF Working Papers 2011/114, International Monetary Fund.
    46. Wenéyam Hippolyte Balima & Jean‐Louis Combes & Alexandru Minea, 2016. "Bond Markets Initiation and Tax Revenue Mobilization in Developing Countries," Southern Economic Journal, John Wiley & Sons, vol. 83(2), pages 550-572, October.
    47. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2010. "International Government Debt," Business School Working Papers 2010-03, Universidad Torcuato Di Tella.
    48. Barry Eichengreen, Marc Flandreau, 2010. "The Federal Reserve, the Bank of England, and the Rise of the Dollar as an International Currency, 1914-1939," IHEID Working Papers 16-2010, Economics Section, The Graduate Institute of International Studies.
    49. Barry Eichengreen & Marc Flandreau, 2010. "The Federal Reserve, the Bank of England and the rise of the dollar as an international currency, 1914-39," BIS Working Papers 328, Bank for International Settlements.
    50. Patricio Valenzuela, 2016. "Rollover Risk and Credit Spreads: Evidence from International Corporate Bonds," Review of Finance, European Finance Association, vol. 20(2), pages 631-661.
    51. Hale, Galina B. & Jones, Peter C. & Spiegel, Mark M., 2020. "Home currency issuance in international bond markets," Journal of International Economics, Elsevier, vol. 122(C).
    52. A. Berthou. & G. Gaulier., 2013. "Wage dynamics and current account rebalancing in the euro area," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 30, pages 71-91, Summer.
    53. Kim, Minsuk & Mano, Rui C. & Mrkaic, Mico, 2024. "Do FX interventions lead to higher FX debt? Evidence from firm-level data," Journal of International Money and Finance, Elsevier, vol. 148(C).
    54. Jos Mauricio Gil Le n & John William Rosso Murillo & Edgar Alonso Ramirez Hern ndez, 2019. "Public Debt and Stability in Economic Growth: Evidence for Latin America," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 9(4), pages 137-147.
    55. Ogrokhina, Olena & Rodriguez, Cesar M., 2019. "The effect of inflation targeting and financial openness on currency composition of sovereign international debt," Journal of International Money and Finance, Elsevier, vol. 97(C), pages 1-18.
    56. Han, Bo, 2022. "Currency denomination and borrowing cost: Evidence from global bonds," Journal of Multinational Financial Management, Elsevier, vol. 66(C).
    57. Fernandes, Genírio Cláudio da Silva, 0021. "O Nexo Soberano-Bancário em Angola: Crowding Out do Crédito Privado, Estabilidade Financeira e Implicações para a Diversificação Económica [The Sovereign-Bank Nexus in Angola: Crowding Out of Private Credit, Financial Stability and Implications fo," MPRA Paper 130160, University Library of Munich, Germany.

  55. Flandreau, Marc & Panizza, Ugo & Gaillard, Norbert, 2010. "Conflicts of Interest, Reputation, and the Interwar Debt Crisis: Banksters or Bad Luck?," CEPR Discussion Papers 7705, Centre for Economic Policy Research.

    Cited by:

    1. Marc Flandreau, 2013. "Sovereign states, bondholders committees, and the London Stock Exchange in the nineteenth century (1827–68): new facts and old fictions," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 29(4), pages 668-696, WINTER.
    2. Bradley, Michael & De Lira Salvatierra, Irving & Gulati, Mitu, 2014. "Lawyers: Gatekeepers of the sovereign debt market?," International Review of Law and Economics, Elsevier, vol. 38(S), pages 150-168.
    3. Marc Flandreau & Juan Flores & Norbert Gaillard & Sebastian Nieto-Parra, 2011. "The Changing Role of Global Financial Brands in the Underwriting of Foreign Government Debt (1815-2010)," IHEID Working Papers 15-2011, Economics Section, The Graduate Institute of International Studies.
    4. Flores Zendejas, Juan & Nodari, Gianandrea, 2021. "Latin American Experiments in Central Banking at the Onset of the Great Depression," Working Papers unige:152742, University of Geneva, Paul Bairoch Institute of Economic History.
    5. Flandreau, Marc, 2017. "Reputation, Regulation and the Collapse of International Capital Markets, 1920-1935," CEPR Discussion Papers 11747, Centre for Economic Policy Research.
    6. Penet, Pierre, 2018. "Rethinking odious debt in the age of predatory lending: Old ideas for new problems," Working Papers unige:102988, University of Geneva, Paul Bairoch Institute of Economic History.
    7. Mitchener, Kris & Trebesch, Christoph, 2021. "Sovereign Debt in the 21st Century: Looking Backward, Looking Forward," CEPR Discussion Papers 15935, Centre for Economic Policy Research.
    8. Papadia, Andrea, 2017. "Sovereign defaults during the Great Depression: the role of fiscal fragility," Economic History Working Papers 68943, London School of Economics and Political Science, Department of Economic History.
    9. Marc Flandreau, 2013. "Collective Action Clauses before they had Airplanes: Bondholder Committees and the London Stock Exchange in the 19th Century (1827-1868)," IHEID Working Papers 01-2013, Economics Section, The Graduate Institute of International Studies.

  56. Eichengreen, Barry & Gullapalli, Rachita & Panizza, Ugo, 2009. "Capital account liberalization, financial development and industry growth: a synthetic view," POLIS Working Papers 128, Institute of Public Policy and Public Choice - POLIS.

    Cited by:

    1. Duc Hong Vo & Anh The Vo & Chi Minh Ho, 2020. "Does Financial Integration Enhance Economic Growth in China?," Economies, MDPI, vol. 8(3), pages 1-18, August.
    2. Tongurai, Jittima & Vithessonthi, Chaiporn, 2018. "The impact of the banking sector on economic structure and growth," International Review of Financial Analysis, Elsevier, vol. 56(C), pages 193-207.
    3. Daniel Marcel Te Kaat, 2021. "Cross‐Border Debt Flows and Credit Allocation: Firm‐Level Evidence from the Euro Area," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(7), pages 1797-1818, October.
    4. Zehri, Chokri, 2022. "Asymmetric impact of capital controls on international trade," The Journal of Economic Asymmetries, Elsevier, vol. 25(C).
    5. Brahim Gaies, 2017. "Globalisation Financière, Croissance et effets de seuil : Le Cas des pays en développement Les moins avancés," Working Papers hal-04141645, HAL.
    6. Krzysztof Ćwikliński, 2010. "Wpływ światowego kryzysu gospodarczego na zadłużenie krajów najuboższych," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 4, pages 1-20.
    7. Deniz Igan & Alexandre R. Lauwers & Damien Puy, 2022. "Capital flows and institutions," BIS Working Papers 994, Bank for International Settlements.
    8. Liu, Yingjie & Zhu, Binghui & Liu, Bingxin & Zhang, Chi, 2026. "The impact of capital account openness on economic growth: A panel data analysis of emerging market economies," International Review of Economics & Finance, Elsevier, vol. 107(C).
    9. Sasidaran Gopalan & Bhavya Gupta & Ramkishen S. Rajan, 2023. "Financial globalisation in ASEAN+3: Navigating the financial trilemma," Global Policy, London School of Economics and Political Science, vol. 14(3), pages 464-476, June.
    10. Daping Zhao & Sajid Anwar & W. Robert J. Alexander, 2022. "Sources of economic slowdown: A simultaneous equations approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 2549-2565, April.
    11. Ahmed, Abdullahi D., 2013. "Effects of financial liberalization on financial market development and economic performance of the SSA region: An empirical assessment," Economic Modelling, Elsevier, vol. 30(C), pages 261-273.
    12. Wu, Manhwa & Huang, Paoyu & Ni, Yensen, 2017. "Capital liberalization and various financial markets: Evidence from Taiwan," The Quarterly Review of Economics and Finance, Elsevier, vol. 66(C), pages 265-274.
    13. Artemis Stratopoulou, 2023. "Assessing the Effects of Capital Account Liberalization on Savings," Open Economies Review, Springer, vol. 34(5), pages 1107-1170, November.
    14. Eichengreen, Barry & Gullapalli, Rachita & Panizza, Ugo, 2011. "Capital account liberalization, financial development and industry growth: A synthetic view," Journal of International Money and Finance, Elsevier, vol. 30(6), pages 1090-1106, October.
    15. Liu, Xiaojun & Wang, Yunyuan & Du, Wanying & Ma, Yong, 2022. "Economic policy uncertainty, oil price volatility and stock market returns: Evidence from a nonlinear model," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
    16. Sara Hsu, 2016. "China's Banking Sector as the Foundation of Financial Reform," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 3(2), pages 244-248, May.
    17. Miyakoshi, Tatsuyoshi & Shimada, Junji & Li, Kui-Wai, 2023. "A network analysis on country and financial center attractiveness: Evidence from Asian economies, 2001–2018," International Review of Economics & Finance, Elsevier, vol. 87(C), pages 418-432.
    18. Igan, Deniz & Kutan, Ali M. & Mirzaei, Ali, 2020. "The real effects of capital inflows in emerging markets," Journal of Banking & Finance, Elsevier, vol. 119(C).
    19. Orso, Cristina Elisa, 2009. "Formal and informal sectors: Interactions between moneylenders and traditional banks in the rural Indian credit market," POLIS Working Papers 135, Institute of Public Policy and Public Choice - POLIS.
    20. Ulke, Dominik, 2026. "Facilitator or inhibitor?," International Review of Economics & Finance, Elsevier, vol. 106(C).
    21. Steiner, Andreas Christian & Saadma, Torsten, 2016. "Measuring De Facto Financial Openness: A New Index," VfS Annual Conference 2016 (Augsburg): Demographic Change 145575, Verein für Socialpolitik / German Economic Association.
    22. Jean-Pierre Allegret & Sana Azzabi, 2014. "Intégration financière internationale et croissance économique dans les pays émergents et en développement : le canal du développement financier," Post-Print hal-01385944, HAL.
    23. Jean Arcand & Enrico Berkes & Ugo Panizza, 2015. "Too much finance?," Journal of Economic Growth, Springer, vol. 20(2), pages 105-148, June.
    24. Nurullah Gur, 2015. "Financial Integration, Financial Dependence and Employment Growth," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 5(2), pages 493-500.
    25. Ćwikliński, Krzysztof, . "Wpływ światowego kryzysu gospodarczego na zadłużenie krajów najuboższych," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2010(4).
    26. Oualid Lajili and Philippe Gilles, 2018. "Financial Liberalization, Political Openness and Growth in Developing Countries: Relationship and Transmission Channels," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 43(1), pages 1-27, March.
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    39. Özdemir Onur, 2019. "Financialization and the Labor Share of Income," Review of Economic Perspectives, Paradigm, vol. 19(4), pages 265-306, December.
    40. Hosamane, Manjappa & Rajanna, Niranjan, 2010. "Financial Liberalization, Development and Industrial Growth: Evidence from India," MPRA Paper 55624, University Library of Munich, Germany.
    41. Dachraoui, Hajer & Smida, Mounir, 2014. "La Mesure de la Fuite des Capitaux et son Impact sur l’Investissement Domestique : Cas des Pays Émergents [Measurement of capital flight and its impact on domestic investment in emerging countries]," MPRA Paper 62740, University Library of Munich, Germany.
    42. Xun Wang & Jingwen Yu, 2023. "Accumulating human capital: Corporate innovation and firm value," International Review of Finance, International Review of Finance Ltd., vol. 23(4), pages 750-776, December.
    43. Navaz Naghavi & Wee-Yeap Lau, 2014. "Exploring the nexus between financial openness and informational efficiency -- does the quality of institution matter?," Applied Economics, Taylor & Francis Journals, vol. 46(7), pages 674-685, March.
    44. Bos, J.W.B. & Economidou, C. & Zhang, L., 2011. "Specialization in the presence of trade and financial integration: explorations of the integration-specialization nexus," Research Memorandum 026, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    45. Ali, Amjad, 2022. "Financial Liberalization, Institutional Quality and Economic Growth Nexus: Panel Analysis of African Countries," MPRA Paper 116101, University Library of Munich, Germany.
    46. Christian Abele & Agnès Bénassy-Quéré & Lionel Fontagné, 2020. "One Size Does Not Fit All: TFP in the Aftermath of Financial Crises in Three European Countries," PSE Working Papers halshs-02883685, HAL.
    47. Tahsin Saadi Sedik & Tao Sun, 2012. "Effects of Capital Flow Liberalization: What is the Evidence from Recent Experiences of Emerging Market Economies?," IMF Working Papers 2012/275, International Monetary Fund.
    48. Hao, Jia & Wang, Weining, 2025. "Capital account liberalization and sudden stops in global capital flows," International Review of Economics & Finance, Elsevier, vol. 98(C).
    49. Verberi, Can & Yasar, Sema & Sugozu, Ibrahim Halil, 2023. "Capital liberalization, growth and moral hazard: Lessons from the global financial crisis," International Review of Financial Analysis, Elsevier, vol. 90(C).
    50. Yalta, A. Yasemin & Yalta, A. Talha, 2012. "Does financial liberalization decrease capital flight? A panel causality analysis," International Review of Economics & Finance, Elsevier, vol. 22(1), pages 92-100.
    51. Keith E. Maskus & Rebecca Neumann & Tobias Seidel, 2011. "How National and International Financial Development Affect Industrial R&D," CESifo Working Paper Series 3480, CESifo.
    52. Abdoul Rachid Issoufou Dogo, 2024. "Impact de l'intégration financière régionale sur le commerce intra régional des produits manufacturés dans la zone CEDEAO," African Development Review, African Development Bank, vol. 36(2), pages 292-305, June.
    53. Fernando Mistura & Caroline Roulet, 2019. "The determinants of Foreign Direct Investment: Do statutory restrictions matter?," OECD Working Papers on International Investment 2019/01, OECD Publishing.
    54. Zheng Liu & Mark M. Spiegel & Jingyi Zhang, 2020. "Optimal Capital Account Liberalization in China," Working Paper Series 2018-10, Federal Reserve Bank of San Francisco.
    55. Hichem Saidi & Khaled Guesmi & Houssem Rachdi, 2016. "Capital Account Liberalization, Financial Development and Economic Growth in Presence of Structural Breaks and Cross-Section Dependence," Economics Bulletin, AccessEcon, vol. 36(4), pages 2225-2236.
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    60. Abdul Rahman & Muhammad Arshad Khan, 2024. "Role of consistent regime-specific policies in recovering the negative relationship between financial development and economic growth," Economic Change and Restructuring, Springer, vol. 57(4), pages 1-27, August.
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    65. Edgar A. Ghossoub & Andre Harrison & Robert R. Reed, 2024. "Capital controls, banking competition, and monetary policy," Economic Inquiry, Western Economic Association International, vol. 62(3), pages 1369-1399, July.
    66. Sariye Belgin Akcay, 2023. "Current Account Imbalances, House Prices, and Institutions," International Real Estate Review, Global Social Science Institute, vol. 26(3), pages 343-392.
    67. Bondonio, Daniele, 2009. "Impact identification strategies for evaluating business incentive programs," POLIS Working Papers 129, Institute of Public Policy and Public Choice - POLIS.
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    71. Andrew Mold & Sebastian Paulo & Annalisa Prizon, 2009. "Taking Stock of the Credit Crunch: Implications for Development Finance and Global Governance," OECD Development Centre Working Papers 277, OECD Publishing.
    72. Dumitriu, Ramona & Stefanescu, Razvan, 2011. "Shocks on the Romanian foreign exchange market before and after the global crisis," MPRA Paper 36560, University Library of Munich, Germany, revised 09 Feb 2012.
    73. Muhammad Jawad & Zaib Maroof & Munazza Naz, 2019. "Industrial development factors: a comprehensive analysis of United States of America, European Union and China," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(4), pages 1763-1821, July.
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    81. Cetorelli, Nicola & Peristiani, Stavros, 2013. "Prestigious stock exchanges: A network analysis of international financial centers," Journal of Banking & Finance, Elsevier, vol. 37(5), pages 1543-1551.
    82. Nataliia Osina, 2021. "Global governance and gross capital flows dynamics," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(3), pages 463-493, August.

  57. Ms. Valerie Cerra & Ms. Sweta Chaman Saxena & Ugo Panizza, 2009. "International Evidence on Recovery from Recessions," IMF Working Papers 2009/183, International Monetary Fund.

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    1. Justin Doran & Bernard Fingleton, 2014. "Economic shocks and growth: Spatio-temporal perspectives on Europe's economies in a time of crisis," Papers in Regional Science, Wiley Blackwell, vol. 93, pages 137-165, November.
    2. Mathilde Maurel & Gunther Schnabl, 2011. "Keynesian and Austrian Perspective on Crisis, Shock Adjustment, Exchange Rate Regime and (Long-Term) Growth," Documents de travail du Centre d'Economie de la Sorbonne 11004, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    3. Tomanova, Lucie, 2013. "Exchange Rate Volatility and the Foreign Trade in CEEC," EY International Congress on Economics I (EYC2013), October 24-25, 2013, Ankara, Turkey 267, Ekonomik Yaklasim Association.
    4. Mariam Camarero & María Dolores Gadea-Rivas & Ana Gómez-Loscos & Cecilio Tamarit, 2019. "External imbalances and recoveries," Working Papers 1912, Department of Applied Economics II, Universidad de Valencia.
    5. Hallerberg, Mark & Scartascini, Carlos, 2015. "Explaining Changes in Tax Burdens in Latin America: Does Politics Trump Economics?," IDB Publications (Working Papers) 7205, Inter-American Development Bank.
    6. Donald Houston, 2020. "Local resistance to rising unemployment in the context of the COVID‐19 mitigation policies across Great Britain," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(6), pages 1189-1209, December.
    7. Liangang Li & Pingyu Zhang & Xin Li, 2019. "Regional Economic Resilience of the Old Industrial Bases in China—A Case Study of Liaoning Province," Sustainability, MDPI, vol. 11(3), pages 1-14, January.
    8. Pedro Clavijo-Cortes, 2023. "Is unemployment hysteretic or structural? A Bayesian model selection approach," Empirical Economics, Springer, vol. 65(6), pages 2837-2866, December.
    9. Peng, Cheng & Qiao, Yawen & Long, Hai & Wang, Yaxing, 2025. "Assessing economic resilience in a manufacturing-based region through industrial restructuring with environmental thresholds: An updating framework," China Economic Review, Elsevier, vol. 92(C).
    10. Ms. Valerie Cerra & Ms. Sweta Chaman Saxena, 2017. "Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and its Policy Implications," IMF Working Papers 2017/250, International Monetary Fund.
    11. Chang, Chong-Chuo & Yang, Han, 2022. "The role of cash holdings during financial crises," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
    12. Bleaney, Michael & Saxena, Sweta & Yin, Lin, 2018. "Exchange rate regimes, devaluations and growth collapses," Journal of Macroeconomics, Elsevier, vol. 57(C), pages 15-25.
    13. Olivier Damette & Mathilde Maurel & Michael A. Stemmer, 2016. "What does it take to grow out of recession? An error-correction approach towards growth convergence of European and transition countries," Post-Print halshs-01318131, HAL.
    14. Joseph Paul Chunga & Ping YU, 2024. "The impact of external shocks on volatility persistence and market efficiency of the foreign exchange rate regime: evidence from Malawi," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    15. Mingjin Luo & Shenqguan Wang, 2023. "Financialization and sluggish recovery of firms' investment: Global evidence from the 2007–2008 financial crisis," International Finance, Wiley Blackwell, vol. 26(3), pages 344-363, December.
    16. Eichengreen, Barry & Park, Donghyun & Shin, Kwanho, 2021. "The shape of recovery: Implications of past experience for the duration of the COVID-19 recession," Journal of Macroeconomics, Elsevier, vol. 69(C).
    17. Samer Matta & Simon Appleton & Michael Bleaney, 2017. "The Economic Impact of Political Instability and Mass Civil Protest," Discussion Papers 2017-03, University of Nottingham, CREDIT.
    18. Luca Agnello & Furceri, D. & R.M, Sousa., 2011. "Fiscal Policy Discretion, Private Spending, and Crisis Episodes," Working papers 354, Banque de France.
    19. Hundt Christian & Grün Lennart, 2022. "Resilience and specialization – How German regions weathered the Great Recession," ZFW – Advances in Economic Geography, De Gruyter, vol. 66(2), pages 96-110, July.
    20. Cerra, Valerie & Fatás, Antonio & Saxena, Sweta, 2020. "Hysteresis and Business Cycles," CEPR Discussion Papers 14531, Centre for Economic Policy Research.
    21. Bernard Fingleton & Harry Garretsen & Ron Martin, 2012. "Recessionary Shocks And Regional Employment: Evidence On The Resilience Of U.K. Regions," Journal of Regional Science, Wiley Blackwell, vol. 52(1), pages 109-133, February.
    22. Corry, Dan & Valero, Anna & Van Reenen, John, 2011. "UK economic performance since 1997: growth, productivity and jobs," LSE Research Online Documents on Economics 47521, London School of Economics and Political Science, LSE Library.
    23. Faris Alshubiri, 2022. "The Impact of the Real Interest Rate, the Exchange Rate and Political Stability on Foreign Direct Investment Inflows: A Comparative Analysis of G7 and GCC Countries," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 29(3), pages 569-603, September.
    24. Ma, Chang & Rogers, John H. & Zhou, Sili, 2020. "Modern pandemics: Recession and recovery," BOFIT Discussion Papers 16/2020, Bank of Finland Institute for Emerging Economies (BOFIT).
    25. Larch, Martin & Claeys, Peter & van der Wielen, Wouter, 2025. "Scarring effects of major economic downturns: The role of fiscal policy and government investment," European Journal of Political Economy, Elsevier, vol. 90(PA).
    26. Xiaochen Lin & Hai Long & Yu Chen, 2024. "Looking Back Deeper, Recovering up Better: Resilience-Oriented Contrarian Thinking about COVID-19 Economic Impact," Sustainability, MDPI, vol. 16(15), pages 1-25, August.
    27. Kose, M. Ayhan & Sugawara, Naotaka & Terrones, Marco E., 2020. "Global Recessions," MPRA Paper 98608, University Library of Munich, Germany.
    28. Camarero, Mariam & Gadea-Rivas, María Dolores & Gómez-Loscos, Ana & Tamarit, Cecilio, 2021. "Effects of external imbalances on GDP recovery patterns," Journal of Economic Behavior & Organization, Elsevier, vol. 182(C), pages 349-362.
    29. Heymann Daniel & Brichetti Juan Pablo & Juarros Pedro & Montero Gustavo, 2020. "Expectations, Coordination Failures and Macro Crises," Journal of Globalization and Development, De Gruyter, vol. 11(1), pages 1-25, June.
    30. Paternesi Meloni, Walter & Romaniello, Davide & Stirati, Antonella, 2022. "Inflation and the NAIRU: assessing the role of long-term unemployment as a cause of hysteresis," Economic Modelling, Elsevier, vol. 113(C).
    31. Furceri, Davide & Zdzienicka, Aleksandra, 2012. "Banking Crises and Short and Medium Term Output Losses in Emerging and Developing Countries: The Role of Structural and Policy Variables," World Development, Elsevier, vol. 40(12), pages 2369-2378.
    32. Cross, R. & McNamara, H. & Pokrovskii, A.V., 2010. "Memory of Recessions," SIRE Discussion Papers 2010-40, Scottish Institute for Research in Economics (SIRE).
    33. Ms. Wenjie Chen & Mr. Mico Mrkaic & Mr. Malhar S Nabar, 2019. "The Global Economic Recovery 10 Years After the 2008 Financial Crisis," IMF Working Papers 2019/083, International Monetary Fund.
    34. Arratibel, Olga & Furceri, Davide & Martin, Reiner & Zdzienicka, Aleksandra, 2011. "The effect of nominal exchange rate volatility on real macroeconomic performance in the CEE countries," Economic Systems, Elsevier, vol. 35(2), pages 261-277, June.
    35. Pablo Mejía-Reyes & Reyna Vergara-González, 2017. "Are More Severe Recessions Followed by Stronger Early Expansions of Employment in the Mexican States?," The Review of Regional Studies, Southern Regional Science Association, vol. 47(3), pages 243-269, Fall.
    36. Aida Caldera Sánchez & Morten Rasmussen & Oliver Röhn, 2016. "Economic Resilience: What Role for Policies?," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 7(02), pages 1-44, June.
    37. Can Sever, 2022. "Financial crises and institutional quality," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 1510-1525, January.
    38. Wojtyna, Andrzej, . "Kontrowersje wokół charakteru ożywienia po kryzysie finansowym i recesji," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2013(11-12).
    39. Atindra Dahal, 2020. "Re-defining Modernity and Development Dimension in Quest of Indigenous and Ingenuous Prosperity of Himalayan Region," Technium Social Sciences Journal, Technium Science, vol. 3(1), pages 11-25, February.
    40. Hashiguchi, Yoshihiro & Yamano, Norihiko & Webb, Colin, 2017. "Economic shocks and changes in global production structure : methods for measuring economic resilience," IDE Discussion Papers 649, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    41. Albi Tola & Sébastien Waelti, 2018. "Financial Crises, Output Losses, And The Role Of Structural Reforms," Economic Inquiry, Western Economic Association International, vol. 56(2), pages 761-798, April.
    42. Holtermann, Linus & Hundt, Christian, 2018. "Hierarchically structured determinants and phase-related patterns of economic resilience – An empirical case study for European regions," MPRA Paper 88359, University Library of Munich, Germany.
    43. Lathania Brown & Robert T Greenbaum, 2017. "The role of industrial diversity in economic resilience: An empirical examination across 35 years," Urban Studies, Urban Studies Journal Limited, vol. 54(6), pages 1347-1366, May.
    44. Fabio Mazzola & Pietro Pizzuto, 2020. "Great Recession and club convergence in Europe: A cross‐country, cross‐region panel analysis (2000–2015)," Growth and Change, Wiley Blackwell, vol. 51(2), pages 676-711, June.
    45. Franziska Pudelko & Christian Hundt & Linus Holtermann, 2018. "Gauging two sides of regional economic resilience in Western Germany—Why sensitivity and recovery should not be lumped together," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 38(2), pages 141-189, October.
    46. Juan R. Cuadrado-Roura & Karima Kourtit & Peter Nijkamp, 2025. "Spatial disparities, convergence and economic development: a global and local orientation," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 74(3), pages 1-19, September.
    47. Chen, Hsien-Yi & Chen, Sheng-Syan & Chang, Chong-Chuo, 2024. "How do institutions affect output recovery after financial crises?," Journal of International Money and Finance, Elsevier, vol. 146(C).
    48. Mr. Julien Allard & Mr. Rodolphe Blavy, 2011. "Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems?," IMF Working Papers 2011/213, International Monetary Fund.
    49. Davide, Furceri & Aleksandra, Zdzienicka, 2010. "Banking Crises and Short and Medium Term Output Losses in Developing Countries: The Role of Structural and Policy Variables," MPRA Paper 22078, University Library of Munich, Germany.
    50. Hiona Balfoussia & Heather D. Gibson, 2016. "Firm investment and financial conditions in the euro area: evidence from firm-level data," Working Papers 208, Bank of Greece.
    51. Berkmen, S. Pelin & Gelos, Gaston & Rennhack, Robert & Walsh, James P., 2012. "The global financial crisis: Explaining cross-country differences in the output impact," Journal of International Money and Finance, Elsevier, vol. 31(1), pages 42-59.
    52. Luca Agnello & Davide Furceri & Ricardo Sousa, 2013. "Discretionary Government Consumption, Private Domestic Demand, and Crisis Episodes," Open Economies Review, Springer, vol. 24(1), pages 79-100, February.
    53. Juan Brichetti & Daniel Heymann & Pedro Juarros & Gustavo Montero, 2019. "Expectations, Coordination Failures and Macro Crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2019-46, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    54. Bryan Harcy & Can Sever, 2020. "Financial Crises and Innovation," BIS Working Papers 846, Bank for International Settlements.
    55. Ron Martin & Peter Sunley, 2013. "On the Notion of Regional Economic Resilience: Conceptualisation and Explanation," Papers in Evolutionary Economic Geography (PEEG) 1320, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Oct 2013.
    56. Mr. Francesco Grigoli & Ms. Dalia S Hakura, 2010. "Recoveries in the Middle East, North Africa, and Pakistan: Have Macroeconomic Policies Been Effective?," IMF Working Papers 2010/122, International Monetary Fund.
    57. Sever, Can, 2018. "The myth of economic recovery: The case of crises in neighboring countries," Economics Letters, Elsevier, vol. 164(C), pages 65-69.
    58. Huang, Xun & Zhang, Chengzhao, 2024. "What explains the recovery speed of financial markets from banking crises?," Research in International Business and Finance, Elsevier, vol. 70(PA).
    59. Eichengreen, Barry & Park, Donghyun & Shin, Kwanho, 2024. "Economic resilience: Why some countries recover more robustly than others from shocks," Economic Modelling, Elsevier, vol. 136(C).
    60. Jin, Yuying & Luo, Mingjin & Wan, Chao, 2018. "Financial constraints, macro-financing environment and post-crisis recovery of firms," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 54-67.
    61. Andrzej Wojtyna, 2013. "Kontrowersje wokół charakteru ożywienia po kryzysie finansowym i recesji," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 11-12, pages 5-21.
    62. Eric Strobl, 2020. "The Macroeconomic Impacts of Natural Disasters in the Caribbean," World Bank Publications - Reports 36406, The World Bank Group.
    63. Mr. Chris Papageorgiou & Hans Weisfeld & Ms. Catherine A Pattillo & Mr. Martin Schindler & Mr. Nikola Spatafora & Mr. Andrew Berg, 2011. "Global Shocks and their Impacton Low-Income Countries: Lessons From theglobal Financial Crisis," IMF Working Papers 2011/027, International Monetary Fund.
    64. Puonti, Päivi, 2022. "Public Debt and Economic Growth," ETLA Reports 127, The Research Institute of the Finnish Economy.
    65. Robert F. Martin & Teyanna Munyan & Beth Anne Wilson, 2015. "Potential Output and Recessions: Are We Fooling Ourselves?," International Finance Discussion Papers 1145, Board of Governors of the Federal Reserve System (U.S.).
    66. Shunsuke Haba & Yuichiro Ito & Shogo Nakano & Takahiro Yamanaka, 2024. "Assessing the Long-Term Impact of Monetary Policy," Bank of Japan Working Paper Series 24-E-19, Bank of Japan.
    67. Any Flore Djoumessi Djoukouo, 2023. "Recessions and recoveries in Central African countries: Lessons from the past," Journal of International Development, John Wiley & Sons, Ltd., vol. 35(6), pages 1121-1142, August.

  58. Ugo Panizza, 2008. "Domestic And External Public Debt In Developing Countries," UNCTAD Discussion Papers 188, United Nations Conference on Trade and Development.

    Cited by:

    1. Pekarski, Sergey, 2011. "Budget deficits and inflation feedback," Structural Change and Economic Dynamics, Elsevier, vol. 22(1), pages 1-11, February.
    2. António Afonso & Yasfir Ibraimo, 2018. "The Macroeconomic Effects of Public Debt: An Empirical Analysis of Mozambique," Working Papers REM 2018/29, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    3. Ibrahim Ari & Muammer Koc, 2018. "Sustainable Financing for Sustainable Development: Understanding the Interrelations between Public Investment and Sovereign Debt," Sustainability, MDPI, vol. 10(11), pages 1-25, October.
    4. Danny Cassimon & Dennis Essers & Karel Verbeke, 2015. "What to do after the clean slate? Post-relief public debt sustainability and management," BeFinD Working Papers 0103, University of Namur, Department of Economics.
    5. Shen, Wenyi & Yang, Shu-Chun S. & Zanna, Luis-Felipe, 2018. "Government spending effects in low-income countries," Journal of Development Economics, Elsevier, vol. 133(C), pages 201-219.
    6. David Bicchetti & Nicolas Maystre, 2012. "The Synchronized And Long-Lasting Structural Change On Commodity Markets: Evidence From High Frequency Data," UNCTAD Discussion Papers 208, United Nations Conference on Trade and Development.
    7. Mark S. Manger & David Mihalyi & Ugo Panizza & Niccolò Rescia & Christoph Trebesch & Ka Lok Wong, 2025. "Africa's Domestic Debt Boom: Evidence from the African Debt Database," IHEID Working Papers 15-2025, Economics Section, The Graduate Institute of International Studies.
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    Cited by:

    1. Tomas Klinger & Petr Teply, 2016. "The Nexus Between Systemic Risk and Sovereign Crises," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 66(1), pages 50-69, February.
    2. Eduardo Borensztein & Ugo Panizza, 2010. "Do Sovereign Defaults Hurt Exporters?," Open Economies Review, Springer, vol. 21(3), pages 393-412, July.
    3. Vivian Norambuena, 2015. "Sovereign Debt Default: Are Countries Trapped by Their Own Default History?," Working Papers wp416, University of Chile, Department of Economics.
    4. Vittorio Corbo & Klaus Schmidt-Hebbel, 2013. "The International Crisis and Latin America," Monetaria, CEMLA, vol. 0(1), pages 37-62, January-j.
    5. Anusha Chari & Ryan Leary & Toan Phan, 2025. "The Transmission of Quasi-Sovereign Default Risk: Evidence from Puerto Rico," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(2), pages 556-595, June.
    6. Christophe Destais & Frederik Eidam & Friedrich Heinemann, 2019. "The design of a sovereign debt restructuring mechanism for the euro area: Choices and trade-offs," EconPol Policy Reports 11, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    7. Manzano Quiroga Jeremías Angel, 2025. "No Pay, No Debt: Domestic Costs of Sovereign Defaults," Asociación Argentina de Economía Política: Working Papers 4817, Asociación Argentina de Economía Política.
    8. Gabriel Cuadra & Manuel Ramos-Francia & Santiago Garcia-Verdu, 2018. "On the role of financial aid in a default episode," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 27(1), pages 1-19, December.
    9. Christophe Destais, 2017. "Are State-Contingent Sovereign Bonds the Solution to Avoid Government Debt Crisis?," CEPII Policy Brief 2017-19, CEPII research center.
    10. Immaculate Machasio, 2016. "Do Remittance Flows Stabilize Developing Countries in the aftermath of Sovereign Defaults?," MAGKS Papers on Economics 201639, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    11. Seitz, Franz & Jost, Thomas, 2012. "The role of the IMF in the European debt crisis," Weidener Diskussionspapiere 32, University of Applied Sciences Amberg-Weiden (OTH).
    12. Török, Ádám, 2011. "Intézményépítés a túlzott államadósság elleni védekezés érdekében [Building institutions to guard against excessive state debt]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 577-591.
    13. König, Philipp & Anand, Kartik & Heinemann, Frank, 2013. "The ‘Celtic Crisis’: Guarantees, transparency, and systemic liquidity risk," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79747, Verein für Socialpolitik / German Economic Association.
    14. Fernando Broner & Jaume Ventura, 2015. "Rethinking the Effects of Financial Liberalization," Working Papers 509, Barcelona School of Economics.
    15. Luitel, Prabesh & Vanpée, Rosanne & De Moor, Lieven, 2016. "Pernicious effects: How the credit rating agencies disadvantage emerging markets," Research in International Business and Finance, Elsevier, vol. 38(C), pages 286-298.
    16. Michael Tomz & Mark L. J. Wright, 2013. "Empirical Research on Sovereign Debt and Default," CAMA Working Papers 2013-16, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    17. Franz Hamann & Jesús Bejarano & Diego Rodríguez, 2015. "Monetary policy implications for an oil-exporting economy of lower long-run international oil prices," Borradores de Economia 871, Banco de la Republica de Colombia.
    18. Eijffinger, Sylvester C.W. & Karataş, Bilge, 2023. "Three sisters: The interlinkage between sovereign debt, currency, and banking crises," Journal of International Money and Finance, Elsevier, vol. 131(C).
    19. Gennaioli, Nicola & Rossi, Stefano & Martín, Alberto, 2010. "Sovereign Default, Domestic Banks and Financial Institutions," CEPR Discussion Papers 7955, Centre for Economic Policy Research.
    20. Diniz, Andre & Guimaraes, Bernardo, 2017. "How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies," LSE Research Online Documents on Economics 86169, London School of Economics and Political Science, LSE Library.
    21. Davide Furceri & Ms. Aleksandra Zdzienicka, 2011. "How Costly Are Debt Crises?," IMF Working Papers 2011/280, International Monetary Fund.
    22. Coimbra, Nuno, 2020. "Sovereigns at risk: A dynamic model of sovereign debt and banking leverage," Journal of International Economics, Elsevier, vol. 124(C).
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    161. Mekki Hamdaoui & SaifEddine Ayouni & Samir Maktouf, 2022. "Financial crises: explanation, prediction, and interdependence," SN Business & Economics, Springer, vol. 2(8), pages 1-52, August.
    162. Enrico Mallucci, 2015. "Domestic Debt and Sovereign Defaults," International Finance Discussion Papers 1153, Board of Governors of the Federal Reserve System (U.S.).
    163. Charles Wyplosz, 2011. "Debt Sustainability Assessment: Mission Impossible," Review of Economics and Institutions, Università di Perugia, vol. 2(3).
    164. Acharya, Viral V. & Rajan, Raghuram G. & Shim, Jack B., 2024. "Sovereign debt and economic growth when government is myopic and self-interested," Journal of International Economics, Elsevier, vol. 150(C).
    165. Markus Jorra, 2011. "The Heterogeneity of Default Costs: Evidence from Recent Sovereign Debt Crises," MAGKS Papers on Economics 201151, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    166. Manuel Ramos -Francia & Ana María Aguilar-Argaez & Santiago García-Verdú & Gabriel Cuadra-García, 2013. "Heading into Trouble: A Comparison of the Latin American Crises and the Euro Area’s Current Crisis," Monetaria, CEMLA, vol. 0(1), pages 87-165, January-j.
    167. Hippolyte W. Balima & Mr. Amadou N Sy, 2019. "The Impact of Bailouts on the Probability of Sovereign Debt Crises: Evidence from IMF-Supported Programs," IMF Working Papers 2019/002, International Monetary Fund.
    168. Diptes C. P. Bhimjee, 2023. "The euro area sovereign debt crisis and the sovereign debt Laffer curve: a historic assessment for 1999–2014," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-12, December.
    169. Müller, Andreas & Storesletten, Kjetil & Zilibotti, Fabrizio, 2015. "Sovereign Debt and Structural Reforms," CEPR Discussion Papers 10588, Centre for Economic Policy Research.
    170. Silvia, Marchesi, 2015. "The cost of default: private vs. official sovereign debt restructurings," Working Papers 320, University of Milano-Bicocca, Department of Economics, revised 28 Dec 2015.
    171. Marco Committeri & Francesco Spadafora, 2013. "You never give me your money? Sovereign debt crises, collective action problems, and IMF lending," Questioni di Economia e Finanza (Occasional Papers) 143, Bank of Italy, Economic Research and International Relations Area.
    172. Heinemann, Friedrich, 2021. "The political economy of euro area sovereign debt restructuring," ZEW Discussion Papers 21-004, ZEW - Leibniz Centre for European Economic Research.
    173. Trebesch, Christoph & Zabel, Michael, 2017. "The output costs of hard and soft sovereign default," European Economic Review, Elsevier, vol. 92(C), pages 416-432.
    174. Nikolai Stähler, 2013. "Recent Developments In Quantitative Models Of Sovereign Default," Journal of Economic Surveys, Wiley Blackwell, vol. 27(4), pages 605-633, September.
    175. Aitor Erce, 2015. "Bank and sovereign risk feedback loops," Globalization Institute Working Papers 227, Federal Reserve Bank of Dallas.
    176. Irina Balteanu & Aitor Erce, 2018. "Linking Bank Crises and Sovereign Defaults: Evidence from Emerging Markets," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(4), pages 617-664, December.
    177. Stangebye, Zachary R., 2020. "Beliefs and long-maturity sovereign debt," Journal of International Economics, Elsevier, vol. 127(C).
    178. Jeanne, O., 2012. "Fiscal challenges to monetary dominance in the euro area: a theoretical perspective," Financial Stability Review, Banque de France, issue 16, pages 143-150, April.
    179. Vidovics-Dancs, Ágnes, 2014. "Az államcsőd költségei régen és ma [Costs of sovereign defaults now and long ago]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 262-278.
    180. Nicolas Afflatet, 2019. "Public Interest Payments and Bond Yields: A Panel Data Estimation for the Eurozone," Applied Economics and Finance, Redfame publishing, vol. 6(1), pages 109-117, January.
    181. Philipp Harms & Joachim Lutz, 2014. "Foreign vs. domestic public debt and the composition of government expenditure: A political-economy approach," Working Papers 1415, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 20 Nov 2014.
    182. Calomiris, Charles W. & Tsoulouhas, Theofanis, 2022. "Bailing out conflicted sovereigns," Journal of Financial Intermediation, Elsevier, vol. 51(C).
    183. Leandro M. Bona, 2024. "The Challenges of Overcoming the External Constraint in Latin America: An Examination of the Potentials and Challenges of Green Financing Using a Political Economy Perspective," Development, Palgrave Macmillan;Society for International Deveopment, vol. 67(3), pages 280-290, December.
    184. Luis Catão & Ana Fostel & Romain Ranciere, 2014. "Fiscal Discoveries and Yield Decouplings," Working Papers 2014-21, The George Washington University, Institute for International Economic Policy.
    185. Fabrice Collard & Michel Habib & Jean-Charles Rochet, 2015. "Sovereign Debt Sustainability In Advanced Economies," Journal of the European Economic Association, European Economic Association, vol. 13(3), pages 381-420, June.
    186. Brutti, Filippo, 2011. "Sovereign defaults and liquidity crises," Journal of International Economics, Elsevier, vol. 84(1), pages 65-72, May.
    187. Mr. Udaibir S Das & Mr. Michael G. Papaioannou & Christoph Trebesch, 2010. "Sovereign Default Risk and Private Sector Access to Capital in Emerging Markets," IMF Working Papers 2010/010, International Monetary Fund.
    188. Fabrizio Balassone & Sara Cecchetti & Martina Cecioni & Marika Cioffi & Wanda Cornacchia & Flavia Corneli & Gabriele Semeraro, 2016. "Risk Reduction and Risk Sharing in the Governance of the Euro Area," Politica economica, Società editrice il Mulino, issue 3, pages 463-488.
    189. Daniel Fried, 2017. "Inflation, Default, and the Currency Composition of Sovereign Debt in Emerging Economies: Working Paper 2017-01," Working Papers 52385, Congressional Budget Office.
    190. Rohan Pitchford & Mark L. J. Wright, 2013. "On the contribution of game theory to the study of sovereign debt and default," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 29(4), pages 649-667, WINTER.
    191. João Pedro Bumachar Resende & Ilan Goldfajn, 2013. "Latin America During the Crisis: The Role of Fundamentals," Monetaria, CEMLA, vol. 0(1), pages 167-198, January-j.
    192. Matthew Schurin, 2012. "Optimal Fiscal Policy and the Banking Sector," Working papers 2012-40, University of Connecticut, Department of Economics, revised Jul 2013.
    193. Jesse Schreger, 2015. "The Costs of Sovereign Default: Evidence from Argentina," 2015 Meeting Papers 240, Society for Economic Dynamics.
    194. Mamadou Bah & Henri Ondoa Atangana & Koffi Delali Kpognon & Souleymane Ouattara, 2023. "Current Account and Institutional Quality in Sub-Saharan Africa: an Empirical Investigation," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(4), pages 4466-4488, December.
    195. Asonuma, Tamon & Chamon, Marcos & Erce, Aitor & Sasahara, Akira, 2024. "Costs of sovereign debt crises: Restructuring strategies and bank intermediation," Journal of International Economics, Elsevier, vol. 152(C).
    196. Thakerngkiat, Narongdech & Nguyen, Hung T. & Nguyen, Nhut H. & Visaltanachoti, Nuttawat, 2023. "Does fear spur default risk?," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 879-899.
    197. Junkova, Simona & Matuskova, Eliska, . "The influence of crisis on the sector structure of economy focusing on agriculture," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 3(2), pages 1-12.
    198. Rho, Caterina & Saenz, Manrique, 2021. "Financial stress and the probability of sovereign default," Journal of International Money and Finance, Elsevier, vol. 110(C).

  60. Ugo Panizza, 2008. "The External Debt Contentious Six Years after the Monterrey Consensus," G-24 Discussion Papers 51, United Nations Conference on Trade and Development.

    Cited by:

    1. Davide Furceri & Ms. Aleksandra Zdzienicka, 2011. "How Costly Are Debt Crises?," IMF Working Papers 2011/280, International Monetary Fund.
    2. Maximilien Kaffo Melou & Mariusz A. Sumlinski & Chris Geiregat, 2014. "An Application of the "Fan-Chart Approach" to Debt Sustainability in Post-HIPC Low-Income Countries," IMF Working Papers 2014/102, International Monetary Fund.
    3. Danny Cassimon & Dennis Essers & Karel Verbeke, 2016. "The IMF-WB Debt Sustainability Framework: Procedures, Applications and Criticisms," BeFinD Policy Briefs 3, University of Namur, Department of Economics.
    4. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2009. "The Economics and Law of Sovereign Debt and Default," Journal of Economic Literature, American Economic Association, vol. 47(3), pages 651-698, September.

  61. Yeyati, Eduardo Levy & Micco, Alejandro & Panizza, Ugo, 2007. "A reappraisal of state-owned banks," LSE Research Online Documents on Economics 123369, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Eduardo Fernández-Arias & Ricardo Hausmann & Ugo Panizza, 2020. "Smart Development Banks," Journal of Industry, Competition and Trade, Springer, vol. 20(2), pages 395-420, June.
    2. Marco FRIGERIO & Daniela VANDONE, 2018. "Virtuous or Vicious? Development Banks in Europe," Departmental Working Papers 2018-07, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    3. Torres, Ernani & Zeidan, Rodrigo, 2016. "The life-cycle of national development banks: The experience of Brazil's BNDES," The Quarterly Review of Economics and Finance, Elsevier, vol. 62(C), pages 97-104.
    4. Erik Figueiredo & João Ricardo Faria & Jaime Orrillo & Rodrigo Pereira, 2025. "Are the loans of state-owned banks politically motivated?," Empirical Economics, Springer, vol. 68(1), pages 405-432, January.
    5. Hartwell, Christopher A. & Korovkin, Vladimir, 2021. "Contracting in a void: The role of the banking sector in developing property rights in Russia," The Quarterly Review of Economics and Finance, Elsevier, vol. 82(C), pages 113-127.
    6. Fredrik N. G. Andersson & Katarzyna Burzynska & Sonja Opper, 2016. "Lending for growth? A Granger causality analysis of China’s finance–growth nexus," Empirical Economics, Springer, vol. 51(3), pages 897-920, November.
    7. Adeyemi Adebayo, 2022. "What Do State-Owned Development Financial Institutions (Sodfis) In South Africa Do?," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 67(235), pages 123-152, October –.
    8. Andersson, Fredrik N. G. & Burzynska, Katarzyna & Opper, Sonja, 2013. "Lending for Growth? An Analysis of State-Owned Banks in China," Working Papers 2013:19, Lund University, Department of Economics.
    9. Panizza, Ugo, 2024. "Bank ownership around the world," Journal of Banking & Finance, Elsevier, vol. 166(C).
    10. Clò, Stefano & Frigerio, Marco & Vandone, Daniela, 2022. "Financial support to innovation: The role of European development financial institutions," Research Policy, Elsevier, vol. 51(10).
    11. Farazi, Subika & Feyen, Erik & Rocha, Roberto, 2011. "Bank ownership and performance in the Middle East and North Africa region," Policy Research Working Paper Series 5620, The World Bank.
    12. Gutierrez, Eva & Rudolph, Heinz P. & Homa, Theodore & Beneit, Enrique Blanco, 2011. "Development banks : role and mechanisms to increase their efficiency," Policy Research Working Paper Series 5729, The World Bank.
    13. Fraccaroli, Nicolò & Sowerbutts, Rhiannon & Whitworth, Andrew, 2025. "Does regulatory and supervisory independence affect financial stability?," Journal of Banking & Finance, Elsevier, vol. 170(C).
    14. Andrianova, Svetlana, 2012. "Public banks and financial stability," Economics Letters, Elsevier, vol. 116(1), pages 86-88.
    15. Andrew Rose & Tomasz Wieladek, 2012. "Too big to fail: some empirical evidence on the causes and consequences of public banking interventions in the United Kingdom," Bank of England Staff Working Paper series 460, Bank of England.
    16. Nadiia Davydenko & Svitlana Boiko & Olena Cherniavska & Maryna Nehrey, 2023. "Analysis of the Impact of State-Owned Banks on the Sustainability of Public Finances," Economies, MDPI, vol. 11(9), pages 1-23, September.
    17. Rose, Andrew K. & Wieladek, Tomasz, 2012. "Too big to fail: Some empirical evidence on the causes and consequences of public banking interventions in the UK," Journal of International Money and Finance, Elsevier, vol. 31(8), pages 2038-2051.
    18. Frigerio, Marco & Vandone, Daniela, 2020. "European development banks and the political cycle," European Journal of Political Economy, Elsevier, vol. 62(C).
    19. World Bank, 2020. "South Asia Economic Focus, Spring 2020," World Bank Publications - Reports 33478, The World Bank Group.

  62. Panizza, Ugo & Jaimovich, Dany, 2007. "Procyclicality or Reverse Causality?," IDB Publications (Working Papers) 1949, Inter-American Development Bank.

    Cited by:

    1. Sarra Ben Slimane & Moez Ben Tahar, 2010. "Why Is Fiscal Policy Procyclical in MENA Countries?," Working Papers 566, Economic Research Forum, revised 11 Jan 2010.
    2. Ms. Juliana Dutra Araujo, 2009. "Fiscal Cycles in the Caribbean," IMF Working Papers 2009/158, International Monetary Fund.
    3. Gerdie Everaert, 2017. "On the estimation of panel fiscal reaction functions : Heterogeneity or fiscal fatigue?," Working Paper Research 320, National Bank of Belgium.
    4. Eduardo Borensztein & Ugo Panizza, 2010. "Do Sovereign Defaults Hurt Exporters?," Open Economies Review, Springer, vol. 21(3), pages 393-412, July.
    5. Xiang Luo & Xinhai Lu & Zuo Zhang & Yue Pan, 2020. "Regional differences and rural public expenditure cyclicality: evidence from transitory and persistent shocks in China," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 65(2), pages 281-318, October.
    6. Iancu, Aurel & Olteanu, Dan Constantin, 2022. "Procyclical and Countercyclical Fiscal Policies in non-Euro EU Member Countries," Working Papers of National Institute for Economic Research 221220, Institutul National de Cercetari Economice (INCE).
    7. El Anshasy, Amany A. & Katsaiti, Marina-Selini, 2013. "Natural resources and fiscal performance: Does good governance matter?," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 285-298.
    8. Gómez Sabaini, Juan Carlos & Jiménez, Juan Pablo, 2009. "The role of tax policy in the context of the crisis: possibilities and limitations," Documentos de Proyectos 4169, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    9. Eichengreen, Barry & Gullapalli, Rachita & Panizza, Ugo, 2011. "Capital account liberalization, financial development and industry growth: A synthetic view," Journal of International Money and Finance, Elsevier, vol. 30(6), pages 1090-1106, October.
    10. Saccone, Donatella & Posta, Pompeo Della & Marelli, Enrico & Signorelli, Marcello, 2022. "Public investment multipliers by functions of government: An empirical analysis for European countries," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 531-545.
    11. Michel Strawczynski & Joseph Zeira, 2011. "Procyclicality of Fiscal Policy in Emerging Countries: the Cycle is the Trend," Working Papers Central Bank of Chile 624, Central Bank of Chile.
    12. Ardanaz, Martín & Izquierdo, Alejandro, 2017. "Current Expenditure Upswings in Good Times and Capital Expenditure Downswings in Bad Times?: New Evidence from Developing Countries," IDB Publications (Working Papers) 8558, Inter-American Development Bank.
    13. Balázs Egert, 2012. "Fiscal Policy Reaction to the Cycle in the OECD: Pro- or Counter-cyclical?," Working Papers hal-04141091, HAL.
    14. Peter Claeys & Luis Costa, 2012. "“A Note on the Relationship Between the Cyclicality of Markups and Fiscal Policy”," AQR Working Papers 201208, University of Barcelona, Regional Quantitative Analysis Group, revised Sep 2012.
    15. Wee Chian Koh, 2017. "Fiscal Policy in Oil-exporting Countries: The Roles of Oil Funds and Institutional Quality," Review of Development Economics, Wiley Blackwell, vol. 21(3), pages 567-590, August.
    16. Galindo, Arturo & Panizza, Ugo, 2017. "The Cyclicality of International Public Sector Borrowing in Developing Countries: Does the Lender Matter?," CEPR Discussion Papers 12243, Centre for Economic Policy Research.
    17. Sayantan Ghosh Dastidar & Nicholas Apergis, 2022. "Holidays and economic growth: Evidence from a panel of Indian states," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 30(1), pages 33-50, January.
    18. Irene Yackovlev & Victor Duarte Lledo & Lucie Gadenne, 2009. "Cyclical Patterns of Government Expenditures in Sub-Saharan Africa: Facts and Factors," IMF Working Papers 2009/274, International Monetary Fund.
    19. Ms. Nese Erbil, 2011. "Is Fiscal Policy Procyclical in Developing Oil-Producing Countries?," IMF Working Papers 2011/171, International Monetary Fund.
    20. Graciela L. Kaminsky & Carmen M. Reinhart & Carlos Vegh, 2005. "When It Rains, It Pours: Procyclical Capital Flows and Macroeconomic Policies," NBER Chapters, in: NBER Macroeconomics Annual 2004, Volume 19, pages 11-82, National Bureau of Economic Research, Inc.
    21. Levy, Antoine & Ricci, Luca Antonio & Werner, Alejandro, 2020. "The Sources of Fiscal Fluctuations," CEPR Discussion Papers 15450, Centre for Economic Policy Research.
    22. Joachim Voth, 2011. "Tightening Tensions: Fiscal Policy and Civil Unrest in Eleven South American Countries, 1937 - 1995," Working Papers Central Bank of Chile 612, Central Bank of Chile.
    23. Michaelides, Alexander & Coutinho, Leonor & Georgiou, Dimitrios & Heracleous, Maria & Tsani, Stella, 2013. "Limiting Fiscal Procyclicality: Evidence from Resource-Rich Countries," CEPR Discussion Papers 9672, Centre for Economic Policy Research.
    24. Hausmann Ricardo & Panizza Ugo, 2011. "Redemption or Abstinence? Original Sin, Currency Mismatches and Counter Cyclical Policies in the New Millennium," Journal of Globalization and Development, De Gruyter, vol. 2(1), pages 1-35, August.
    25. Christoph Peatz, 2020. "Fiscal Rules in Good Times and Bad," IMK Working Paper 206-2020, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    26. Alberto Alesina & Filipe R. Campante & Guido Tabellini, 2008. "Why is Fiscal Policy Often Procyclical?," Journal of the European Economic Association, MIT Press, vol. 6(5), pages 1006-1036, September.
    27. World Bank Group, 2016. "Africa's Pulse, No. 14, October 2016," World Bank Publications - Reports 25097, The World Bank Group.
    28. Agustin Benetrix & Hayley Pallan & Ugo Panizza, 2022. "The Elusive Link Between FDI and Economic Growth," IHEID Working Papers 26-2022, Economics Section, The Graduate Institute of International Studies.
    29. Giovanni Carnazza & Paolo Liberati & Agnese Sacchi, 2024. "Political instability and international trade in the European Union: A network-based approach," Discussion Papers 2024/319, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    30. Mr. Sanjeev Gupta & Alejandro Hajdenberg & Mr. Javier Arze del Granado, 2010. "Is Social Spending Procyclical?," IMF Working Papers 2010/234, International Monetary Fund.
    31. Laura dos Reis & Paolo Manasse & Ugo Panizza, 2007. "Targeting the Structural Balance," Research Department Publications 4507, Inter-American Development Bank, Research Department.
    32. Carlos A. Vegh & Guillermo Vuletin, 2014. "Social Implications of Fiscal Policy Responses During Crises," NBER Working Papers 19828, National Bureau of Economic Research, Inc.
    33. Gheorghița DINCĂ & Marius Sorin DINCĂ & Bardhyl DAUTI & Mirela Camelia BABA & Cătălina POPIONE, 2020. "Cyclicality of Fiscal Policy in the European Union," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 75-96, March.
    34. Combes, Jean-Louis & Minea, Alexandru & Sow, Moussé, 2017. "Is fiscal policy always counter- (pro-) cyclical? The role of public debt and fiscal rules," Economic Modelling, Elsevier, vol. 65(C), pages 138-146.
    35. Cronin, David & McQuinn, Kieran, 2017. "The cyclicality of Irish fiscal policy ex-ante and ex-post," Papers WP581, Economic and Social Research Institute (ESRI).
    36. Gradstein, Mark & Brückner, Markus, 2011. "Government Spending Cyclicality: Evidence from Rainfall Shocks as an Instrument for Cyclical Income," CEPR Discussion Papers 8622, Centre for Economic Policy Research.
    37. Coutinho, Leonor & Georgiou, Dimitrios & Heracleous, Maria & Michaelides, Alexander & Tsani, Stella, 2022. "Limiting fiscal procyclicality: Evidence from resource-dependent countries," Economic Modelling, Elsevier, vol. 106(C).
    38. Gradstein, Mark & Chong, Alberto & Brückner, Markus, 2011. "Estimating Income Elasticity of Government Expenditures: Evidence from Oil Price Shocks," CEPR Discussion Papers 8563, Centre for Economic Policy Research.
    39. Anastasia Bruni, 2025. "Green Investment in the EU and the US: Markup Insights," Working Papers 2025.05, Fondazione Eni Enrico Mattei.
    40. Arze del Granado, Javier & Gupta, Sanjeev & Hajdenberg, Alejandro, 2013. "Is Social Spending Procyclical? Evidence for Developing Countries," World Development, Elsevier, vol. 42(C), pages 16-27.
    41. Carlos A. Vegh & Guillermo Vuletin, 2015. "How Is Tax Policy Conducted over the Business Cycle?," American Economic Journal: Economic Policy, American Economic Association, vol. 7(3), pages 327-370, August.
    42. Perry, Guillermo & Bustos, Sebastián, 2012. "The Effects of Oil and Mineral Taxation on Non-commodity Fiscal Revenues," IDB Publications (Working Papers) 4062, Inter-American Development Bank.
    43. Bénétrix, Agustín S. & Lane, Philip R., 2013. "Fiscal cyclicality and EMU," Journal of International Money and Finance, Elsevier, vol. 34(C), pages 164-176.
    44. Agnello, Luca & Cimadomo, Jacopo, 2009. "Discretionary Fiscal Policies over the Cycle: New Evidence based on the ESCB Disaggregated Approach," Working Paper Series 1118, European Central Bank.
    45. -, 2009. "Políticas macroeconómicas en tiempos de crisis: opciones y perspectivas," Documentos de Proyectos 3664, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    46. Kacef, Osvaldo, 2009. "Crisis y políticas públicas en América Latina y el Caribe," Documentos de Proyectos 4164, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    47. Brasili, Andrea & Brasili, Cristina & Musto, Giorgio & Tueske, Annamaria, 2023. "Complementarities between local public and private investment in EU regions," EIB Working Papers 2023/04, European Investment Bank (EIB).
    48. Agust n S. B n trix & Philip R. Lane, 2015. "Financial Cycles and Fiscal Cycles," Trinity Economics Papers tep0815, Trinity College Dublin, Department of Economics.
    49. Fanelli, José María & Jiménez, Juan Pablo, 2009. "Crisis, volatility and fiscal policy in Latin America," Documentos de Proyectos 4167, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    50. Eliza Lis & Christiane Nickel, 2010. "The impact of extreme weather events on budget balances," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 17(4), pages 378-399, August.
    51. Heimberger, Philipp, 2023. "The cyclical behaviour of fiscal policy: A meta-analysis," Economic Modelling, Elsevier, vol. 123(C).
    52. Ethan Ilzetzki & Carlos A. Vegh, 2008. "Procyclical Fiscal Policy in Developing Countries: Truth or Fiction?," NBER Working Papers 14191, National Bureau of Economic Research, Inc.
    53. Hongsheng Fang & Minyuan He & Dandan Dang & Jun Zhang, 2020. "Endogenous cyclical corporate tax burden in China: The role of tax quotas and growth targets," The World Economy, Wiley Blackwell, vol. 43(12), pages 3314-3339, December.
    54. Marko Crnogorac & Santiago Lago-Peñas, 2023. "An analysis of COFOG expenditures in former Yugoslavian countries," Public Sector Economics, Institute of Public Finance, vol. 47(2), pages 233-254.
    55. -, 2009. "Macroeconomic policies in times of crisis: options and perspectives," Documentos de Proyectos 3665, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    56. Agnello, Luca & Schuknecht, Ludger, 2011. "Booms and busts in housing markets: Determinants and implications," Journal of Housing Economics, Elsevier, vol. 20(3), pages 171-190, September.
    57. Foster,Vivien & Rana,Anshul & Gorgulu,Nisan, 2022. "Understanding Public Spending Trends for Infrastructure in Developing Countries," Policy Research Working Paper Series 9903, The World Bank.
    58. Florence Huart, 2013. "Is Fiscal Policy Procyclical in the Euro Area?," German Economic Review, Verein für Socialpolitik, vol. 14(1), pages 73-88, February.
    59. Ardanaz, Martín & Cavallo, Eduardo & Izquierdo, Alejandro & Puig, Jorge, 2021. "Growth-friendly fiscal rules? Safeguarding public investment from budget cuts through fiscal rule design," Journal of International Money and Finance, Elsevier, vol. 111(C).
    60. Loujaina Abdelwahed & Georgios Karras, 2021. "Did 272 billion dollars from China help stabilize business cycle fluctuations in recipient countries?," Review of International Economics, Wiley Blackwell, vol. 29(2), pages 314-358, May.
    61. Carlos A. Vegh & Guillermo Vuletin, 2014. "The Road to Redemption: Policy Response to Crises in Latin America," NBER Working Papers 20675, National Bureau of Economic Research, Inc.
    62. Ugo Panizza & Andrea Filippo Presbitero, 2012. "Public Debt and Economic Growth: Is There a Causal Effect?," Mo.Fi.R. Working Papers 65, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    63. Fanelli, José María & Jiménez, Juan Pablo, 2009. "Crisis, volatilidad y política fiscal en América Latina," Documentos de Proyectos 4165, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    64. Calderon,Cesar & Zeufack,Albert G., 2020. "Borrow with Sorrow ? The Changing Risk Profile of Sub-Saharan Africa's Debt," Policy Research Working Paper Series 9137, The World Bank.
    65. Çiçekçi, Cumhur & Gaygısız, Esma, 2023. "Procyclicality of fiscal policy in oil-rich countries: Roles of resource funds and institutional quality," Resources Policy, Elsevier, vol. 85(PB).
    66. Nese Erbil, 2011. "Cyclicality of Fiscal Behavior in Developing Oil-Producing Countries: An Empirical Review," Working Papers 638, Economic Research Forum, revised 10 Jan 2011.
    67. Gómez Sabaini, Juan Carlos & Jiménez, Juan Pablo, 2009. "El papel de la política tributaria frente a la crisis: límites y posibilidades," Documentos de Proyectos 4166, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    68. António Afonso & João Tovar Jalles, 2013. "The cyclicality of education, health, and social security government spending," Applied Economics Letters, Taylor & Francis Journals, vol. 20(7), pages 669-672, May.
    69. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2009. "The Economics and Law of Sovereign Debt and Default," Journal of Economic Literature, American Economic Association, vol. 47(3), pages 651-698, September.
    70. Apra Sinha & Ashish Kumar Sedai & Abhishek Kumar & Rabindra Nepal, 2023. "Are Autocracies Bad for the Environment? Global Evidence from Two Centuries of Data," The Energy Journal, , vol. 44(2), pages 47-78, March.
    71. Ardanaz, Martín & Izquierdo, Alejandro, 2022. "Current expenditure upswings in good times and public investment downswings in bad times? New evidence from developing countries," Journal of Comparative Economics, Elsevier, vol. 50(1), pages 118-134.
    72. Ogrokhina, Olena & Rodriguez, Cesar M., 2024. "Inflation targeting and capital flows: A tale of two cycles in developing countries," Journal of International Money and Finance, Elsevier, vol. 146(C).
    73. Kacef, Osvaldo, 2009. "Crisis and public policies in Latin America and the Caribbean," Documentos de Proyectos 4168, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    74. Ms. Valerie Cerra & Ms. Sweta Chaman Saxena & Ugo Panizza, 2009. "International Evidence on Recovery from Recessions," IMF Working Papers 2009/183, International Monetary Fund.
    75. Giovanni Carnazza & Francesco Tomasone, 2026. "Point break: When fiscal rules turn pro-cyclical – Evidence from debt thresholds in the European Union," Working Papers in Public Economics 279, Department of Economics and Law, Sapienza University of Rome.
    76. Brückner, Markus & Gradstein, Mark, 2014. "Government spending cyclicality: Evidence from transitory and persistent shocks in developing countries," Journal of Development Economics, Elsevier, vol. 111(C), pages 107-116.
    77. Nazmus Sadat Khan, 2011. "Cyclical Behaviour of Macroeconomic Policies and Capital Flows: A Study of Asian Countries," Bangladesh Development Studies, Bangladesh Institute of Development Studies (BIDS), vol. 34(2), pages 47-85.
    78. Idrys Fransmel Okombi, 2021. "Non-Linear Response of Fiscal Policy to the Business Cycle: Empirical Evidence in Sub-Saharan Africa," Economics Bulletin, AccessEcon, vol. 41(3), pages 1097-1112.
    79. Israa A. El Husseiny, 2018. "On the Cyclical Behavior of Fiscal Policy in Egypt," Contemporary Economics, Vizja University, vol. 12(1), March.
    80. Hongsheng Fang & Wen‐Quan Hu & Ruhua Shi & Xufei Zhang, 2023. "The Chinese‐style macroeconomic control: The role of state‐owned enterprises," The World Economy, Wiley Blackwell, vol. 46(3), pages 702-725, March.
    81. Bruni, Anastasia, 2025. "Green Investment in the EU and the US: Markup Insights," FEEM Working Papers 349287, Fondazione Eni Enrico Mattei (FEEM).
    82. António Afonso & João Tovar Jalles, 2012. "The Fiscal-Growth Nexus," Working Papers Department of Economics 2012/01, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.

  63. Manasse, Paolo & Panizza, Ugo & Dos Reis, Laura, 2007. "Targeting the Structural Balance," IDB Publications (Working Papers) 1595, Inter-American Development Bank.

    Cited by:

    1. Gómez Sabaini, Juan Carlos & Jiménez, Juan Pablo, 2009. "The role of tax policy in the context of the crisis: possibilities and limitations," Documentos de Proyectos 4169, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. -, 2009. "Políticas macroeconómicas en tiempos de crisis: opciones y perspectivas," Documentos de Proyectos 3664, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Kacef, Osvaldo, 2009. "Crisis y políticas públicas en América Latina y el Caribe," Documentos de Proyectos 4164, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    4. Fanelli, José María & Jiménez, Juan Pablo, 2009. "Crisis, volatility and fiscal policy in Latin America," Documentos de Proyectos 4167, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    5. -, 2009. "Macroeconomic policies in times of crisis: options and perspectives," Documentos de Proyectos 3665, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    6. Andersen, Torben M., 2013. "Fiscal policy targeting under imperfect information," Journal of International Money and Finance, Elsevier, vol. 34(C), pages 114-130.
    7. Sorin Gabriel Anton & Cristina Puiu, 2014. "The Imf Approach Towards The Structural Deficit," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 0(Special i), pages 44-49, September.
    8. Fanelli, José María & Jiménez, Juan Pablo, 2009. "Crisis, volatilidad y política fiscal en América Latina," Documentos de Proyectos 4165, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    9. Gómez Sabaini, Juan Carlos & Jiménez, Juan Pablo, 2009. "El papel de la política tributaria frente a la crisis: límites y posibilidades," Documentos de Proyectos 4166, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    10. Kacef, Osvaldo, 2009. "Crisis and public policies in Latin America and the Caribbean," Documentos de Proyectos 4168, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    11. Giovanni Andrea Cornia & Juan Carlos Gómez-Sabaini & Bruno Martorano, 2012. "A New Fiscal Pact, Tax Policy Changes and Income Inequality," Working Papers - Economics wp2012_03.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.

  64. Jaimovich, Dany & Panizza, Ugo & Campos, Camil F.S., 2006. "The Unexplained Part of Public Debt," IDB Publications (Working Papers) 1571, Inter-American Development Bank.

    Cited by:

    1. Reischmann, Markus, 2016. "Creative accounting and electoral motives: Evidence from OECD countries," Journal of Comparative Economics, Elsevier, vol. 44(2), pages 243-257.
    2. Timothy C. Irwin, 2015. "Defining The Government'S Debt And Deficit," Journal of Economic Surveys, Wiley Blackwell, vol. 29(4), pages 711-732, September.
    3. Miss Anke Weber, 2012. "Stock-Flow Adjustments and Fiscal Transparency: A Cross-Country Comparison," IMF Working Papers 2012/039, International Monetary Fund.
    4. Laura Jaramillo & Carlos Mulas†Granados & Joao Tovar Jalles, 2017. "Debt spikes, blind spots, and financial stress," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 22(4), pages 421-437, October.
    5. Equiza-Goñi, Juan, 2016. "Government debt maturity and debt dynamics in euro area countries," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 292-311.
    6. Antonio Afonso & Jose Alves, 2015. "The Role of Government Debt in Economic Growth," Hacienda Pública Española / Review of Public Economics, IEF, vol. 215(4), pages 9-26, December.
    7. José Alves & Clarisse Wagner, 2024. "Leveraging interest-growth differentials: Hidden effects of government financial assets in the European Union," Working Papers REM 2024/0307, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    8. Horn, Sebastian & Mihalyi, David & Nickol, Philipp & Sosa Padilla, César, 2024. "Hidden debt revelations," Ruhr Economic Papers 1101, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    9. Casalin, Fabrizio & Cerniglia, Floriana & Dia, Enzo, 2023. "Stock-flow adjustments, public debt management and interest costs," Economic Modelling, Elsevier, vol. 129(C).
    10. Cohen, Daniel & Villemot, Sébastien, 2011. "Endogenous debt crises," CEPR Discussion Papers 8270, Centre for Economic Policy Research.
    11. A. Fatas & Mr. Atish R. Ghosh & Ugo Panizza & Mr. Andrea F Presbitero, 2019. "The Motives to Borrow," IMF Working Papers 2019/101, International Monetary Fund.
    12. António Afonso & João Tovar Jalles, 2019. "Stock Flow Adjustments in Sovereign Debt Dynamics: The Role of Fiscal Frameworks," Working Papers REM 2019/66, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    13. Sundus & Samina Naveed & Tanweer Ul Islam, 2022. "An empirical investigation of determinants & sustainability of public debt in Pakistan," PLOS ONE, Public Library of Science, vol. 17(9), pages 1-15, September.
    14. Laura dos Reis & Paolo Manasse & Ugo Panizza, 2007. "Targeting the Structural Balance," Research Department Publications 4507, Inter-American Development Bank, Research Department.
    15. Ugo Panizza & Andrea F. Presbitero, 2013. "Public Debt and Economic Growth in Advanced Economies: A Survey," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(2), pages 175-204, June.
    16. Alexander M. Petersen & Boris Podobnik & Davor Horvatic & H. Eugene Stanley, 2010. "Scale invariant properties of public debt growth," Papers 1002.2491, arXiv.org.
    17. Forslund, Kristine & Lima, Lycia & Panizza, Ugo, 2011. "The determinants of the composition of public debt in developing and emerging market countries," POLIS Working Papers 156, Institute of Public Policy and Public Choice - POLIS.
    18. Ourania Dimakou, 2010. "Central Bank Independence, Bureaucratic Corruption and Fiscal Responses - Empirical Evidence," Birkbeck Working Papers in Economics and Finance 1012, Birkbeck, Department of Economics, Mathematics & Statistics.
    19. Chakraborty, Pinaki & Bhadra, Kausik K., 2024. "State Finances in India: Managing Fiscal Risks and Sustaining Recovery," Working Papers 24/413, National Institute of Public Finance and Policy.
    20. Laura Jaramillo & Mr. Carlos Mulas-Granados & Elijah Kimani, 2016. "The Blind Side of Public Debt Spikes," IMF Working Papers 2016/202, International Monetary Fund.
    21. Ugo Panizza, 2014. "Public Debt Risks in Italy Myths, Facts, and Policies," IHEID Working Papers 13-2014, Economics Section, The Graduate Institute of International Studies, revised 12 Feb 2014.
    22. Dany Jaimovich & Ugo Panizza, 2006. "Public Debt around the World: A New Dataset of Central Government Debt," Research Department Publications 4461, Inter-American Development Bank, Research Department.
    23. Himadri Shekhar Chakrabarty, 2026. "On-budget Drivers of Off-budget Debt: An Indian Perspective," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 25(1), pages 7-28, March.
    24. Jaramillo, Laura & Mulas-Granados, Carlos & Kimani, Elijah, 2017. "Debt spikes and stock flow adjustments: Emerging economies in perspective," Journal of Economics and Business, Elsevier, vol. 94(C), pages 1-14.
    25. Andrian, Leandro & Rodriguez, Cesar M. & Valencia, Oscar M., 2025. "Surges in the shadows: Stock-flow adjustments and public debt spikes," Emerging Markets Review, Elsevier, vol. 67(C).
    26. António Afonso & João Tovar Jalles, 2019. "Stock flow adjustments in sovereign debt dynamics: the role of fiscal frameworks," EconPol Working Paper 20, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    27. Fabrizio Casalin & Floriana Cerniglia & Enzo Dia, 2021. "Stock-flow adjustments and interest costs in public debt dynamics," CRANEC - Working Papers del Centro di Ricerche in Analisi economica e sviluppo economico internazionale crn2102, Università Cattolica del Sacro Cuore, Centro di Ricerche in Analisi economica e sviluppo economico internazionale (CRANEC).
    28. Yilmaz Akyüz, 2007. "Debt Sustainability in Emerging Markets: A Critical Appraisal," Working Papers 61, United Nations, Department of Economics and Social Affairs.
    29. Tari Lestari, 2014. "Can Indonesia’s Fiscal Policy be Sustained, with Exploding Debt?," Working Papers in Economics and Development Studies (WoPEDS) 201415, Department of Economics, Padjadjaran University, revised Nov 2014.
    30. Bachleitner, Alena & Prammer, Doris, 2024. "Don’t blame the government!? An assessment of debt forecast errors with a view to the EU Economic Governance Review," European Journal of Political Economy, Elsevier, vol. 82(C).
    31. Markus Reischmann, 2016. "Empirical Studies on Public Debt and Fiscal Transfers," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 63, September.
    32. David Barr & Oliver Bush & Alex Pienkowski, 2014. "GDP-linked bonds and sovereign default," Bank of England Staff Working Paper series 484, Bank of England.
    33. Ugo Panizza, 2008. "The External Debt Contentious Six Years after the Monterrey Consensus," G-24 Discussion Papers 51, United Nations Conference on Trade and Development.
    34. Marcela De Castro-Valderrama, 2021. "Present-biased Government, Creative Accounting and a Pitfall in Balanced Budget Rules," Borradores de Economia 1183, Banco de la Republica de Colombia.
    35. Ka Lok Wong (Steve) & Mark Manger & Ugo Panizza, 2026. "Determinants of Sovereign Bond Issuance in Emerging Markets," IHEID Working Papers 06-2026, Economics Section, The Graduate Institute of International Studies.
    36. Dany Jaimovich & Ugo Panizza, 2006. "La deuda pública en el mundo," Research Department Publications 4462, Inter-American Development Bank, Research Department.
    37. Yilmaz Akyüz, 2014. "Internationalization of Finance and Changing Vulnerabilities in Emerging and Developing Economies," UNCTAD Discussion Papers 217, United Nations Conference on Trade and Development.
    38. Juan Equiza Goni, 2014. "Sovereign Debt Maturity and Debt-to GDP Dynamics in Six Euro Area Countries," Working Papers ECARES ECARES 2014-44, ULB -- Universite Libre de Bruxelles.

  65. Kevin Cowan & Eduardo Levy-Yeyati & Ugo Panizza & Federico Sturzenegger, 2006. "Sovereign Debt in the Americas: New Data and Stylized Facts," Working Papers Central Bank of Chile 371, Central Bank of Chile.

    Cited by:

    1. Ricardo Caballero & Kevin Cowan, 2006. "Financial Integration Without the Volatility," Working Papers Central Bank of Chile 387, Central Bank of Chile.
    2. S M Ali Abbas & Nazim Belhocine & Asmaa El-Ganainy & Mark Horton, 2011. "Historical Patterns and Dynamics of Public Debt—Evidence From a New Database," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(4), pages 717-742, November.
    3. Jean-Pierre Allegret & Alain Sand-Zantman, 2009. "Does a Monetary Union protect again shocks? An assessment of Latin American integration," Post-Print halshs-00371069, HAL.
    4. Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "The Forgotten History of Domestic Debt," NBER Working Papers 13946, National Bureau of Economic Research, Inc.
    5. Eduardo Levy Yeyati, 2019. "The Cost of Holding Foreign Exchange Reserves," CID Working Papers 353, Center for International Development at Harvard University.
    6. Yeyati, Eduardo Levy & Williams, Tomas, 2014. "Financial globalization in emerging economies: much ado about nothing?," LSE Research Online Documents on Economics 123301, London School of Economics and Political Science, LSE Library.
    7. Michel Strawczynski & Joseph Zeira, 2011. "Procyclicality of Fiscal Policy in Emerging Countries: the Cycle is the Trend," Working Papers Central Bank of Chile 624, Central Bank of Chile.
    8. Eduardo Levy Yeyati & Federico Sturzenegger, 2007. "A Balance-Sheet Approach to Fiscal Sustainability," CID Working Papers 150, Center for International Development at Harvard University.
    9. Samba Mbaye & Ms. Marialuz Moreno Badia & Kyungla Chae, 2018. "Global Debt Database: Methodology and Sources," IMF Working Papers 2018/111, International Monetary Fund.
    10. Arnaud Mehl & Julien Reynaud, 2008. "Domestic debt structures in emerging markets: new empirical evidence," Documents de travail du Centre d'Economie de la Sorbonne bla08059, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    11. Sebastian M. Saiegh, 2009. "Coalition Governments And Sovereign Debt Crises," Economics and Politics, Wiley Blackwell, vol. 21(2), pages 232-254, July.
    12. Ağca, Şenay & Celasun, Oya, 2012. "Sovereign debt and corporate borrowing costs in emerging markets," Journal of International Economics, Elsevier, vol. 88(1), pages 198-208.
    13. Hausmann Ricardo & Panizza Ugo, 2011. "Redemption or Abstinence? Original Sin, Currency Mismatches and Counter Cyclical Policies in the New Millennium," Journal of Globalization and Development, De Gruyter, vol. 2(1), pages 1-35, August.
    14. Salvatore Dell’Erba & Ricardo Hausmann & Ugo Panizza, 2013. "Debt Levels, Debt Composition, and Sovereign Spreads in Emerging and Advanced Economies," IHEID Working Papers 12-2013, Economics Section, The Graduate Institute of International Studies.
    15. Allegret, Jean-Pierre & Sand-Zantman, Alain, 2009. "Does a Monetary Union protect against external shocks?: An assessment of Latin American integration," Journal of Policy Modeling, Elsevier, vol. 31(1), pages 102-118.
    16. Nicola Gennaioli & Alberto Martin & Stefano Rossi, 2009. "Sovereign default, domestic banks and financial institutions," Economics Working Papers 1170, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2012.
    17. Andrew Powell & Juan F. Martinez S., 2008. "Sobre los diferenciales y clasificaciones soberanos de economías emergentes," Research Department Publications 4566, Inter-American Development Bank, Research Department.
    18. Ugo Panizza & Andrea F. Presbitero, 2013. "Public Debt and Economic Growth in Advanced Economies: A Survey," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(2), pages 175-204, June.
    19. Forslund, Kristine & Lima, Lycia & Panizza, Ugo, 2011. "The determinants of the composition of public debt in developing and emerging market countries," POLIS Working Papers 156, Institute of Public Policy and Public Choice - POLIS.
    20. Emanuel Kohlscheen, 2010. "Domestic vs external sovereign debt servicing: an empirical analysis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 15(1), pages 93-103.
    21. Choy, Swee Yew & Chit, Myint Moe & Teo, Wing Leong, 2021. "Sovereign credit ratings: Discovering unorthodox factors and variables," Global Finance Journal, Elsevier, vol. 48(C).
    22. Kose, M. Ayhan & Kurlat, Sergio & Ohnsorge, Franziska & Sugawara, Naotaka, 2022. "A cross-country database of fiscal space," Journal of International Money and Finance, Elsevier, vol. 128(C).
    23. Alok Johri & Shahed K. Khan & Cesar Sosa-Padilla, 2018. "Interest Rate Uncertainty and Sovereign Default Risk," Department of Economics Working Papers 2018-17, McMaster University.
    24. Andrew Powell & Juan F. Martinez S., 2008. "On Emerging Economy Sovereign Spreads and Ratings," Research Department Publications 4565, Inter-American Development Bank, Research Department.
    25. Reinhold Heinlein & Gabriella D. Legrenzi & Scott M. R. Mahadeo, 2024. "Exchange Rates and Sovereign Risk: A Nonlinear Approach Based on Local Gaussian Correlations," CESifo Working Paper Series 11019, CESifo.
    26. Levy Yeyati, Eduardo, 2008. "The cost of reserves," Economics Letters, Elsevier, vol. 100(1), pages 39-42, July.
    27. Ananth Ramanarayanan & Cristina Arellano, 2008. "Default and the Maturity Structure in Sovereign Bonds," 2008 Meeting Papers 479, Society for Economic Dynamics.
    28. Colliac, Stéphane & Lapteacru, Ion, 2008. "Three countries' debt profiles: Average maturities in Mexico, Brazil, and Russia," Journal of Multinational Financial Management, Elsevier, vol. 18(2), pages 94-111, April.
    29. Dany Jaimovich & Ugo Panizza, 2010. "Public debt around the world: a new data set of central government debt," Applied Economics Letters, Taylor & Francis Journals, vol. 17(1), pages 19-24, January.
    30. Ugo Panizza, 2008. "The External Debt Contentious Six Years after the Monterrey Consensus," G-24 Discussion Papers 51, United Nations Conference on Trade and Development.
    31. Andrea F. Presbitero, 2012. "Domestic debt in Low-Income Countries," Economics Bulletin, AccessEcon, vol. 32(2), pages 1099-1112.
    32. Ramiro Sosa Navarro, 2010. "Fiscal Imbalances, Inflation and Sovereign Default Dynamics," Ensayos de Política Económica, Departamento de Investigación Francisco Valsecchi, Facultad de Ciencias Económicas, Pontificia Universidad Católica Argentina., vol. 1(4), pages 108-142, Octubre.
    33. Mehl, Arnaud & Reynaud, Julien, 2010. "Risky public domestic debt composition in emerging economies," Journal of International Money and Finance, Elsevier, vol. 29(1), pages 1-18, February.
    34. Avellaneda-Kantt, Maria Belen, 2012. "Perspectiva Macroeconomica y Tendencias en el Mercado de Deuda Latinoamericano: ¿El viraje hacia instrumentos de Fondeo Domesticos? [Macroeconomic Outlook and Trends in Latin American Debt Capital Markets: A turn to domestic sources of funding?]," MPRA Paper 44271, University Library of Munich, Germany, revised 16 Jan 2013.
    35. Eduardo Levy Yeyati, 2009. "Optimal Debt? On the Insurance Value of International Debt Flows to Developing Countries," Open Economies Review, Springer, vol. 20(4), pages 489-507, September.
    36. Eduardo Levy Yeyati, 2006. "Liquidity Insurance in a Financially Dollarized Economy," Business School Working Papers liquid, Universidad Torcuato Di Tella.
    37. Daniel Fried, 2017. "Inflation, Default, and the Currency Composition of Sovereign Debt in Emerging Economies: Working Paper 2017-01," Working Papers 52385, Congressional Budget Office.
    38. Paloma Acevedo & Enrique Alberola & Carmen Broto, 2008. "Local debt expansion and vulnerability reduction: an assessment for six crisis-prone countries," BIS Papers chapters, in: Bank for International Settlements (ed.), New financing trends in Latin America: a bumpy road towards stability, volume 36, pages 88-109, Bank for International Settlements.
    39. Fløgstad, Cathrin, 2017. "Domestic bond markets in emerging economies: Crowding in or crowding out?," Working Papers in Economics 15/17, University of Bergen, Department of Economics.

  66. Mandana, Hajj & Panizza, Ugo, 2006. "Religion and education gender gap: Are Muslims different?," POLIS Working Papers 64, Institute of Public Policy and Public Choice - POLIS.

    Cited by:

    1. Marchese, Carla, 2006. "Rewarding the consumer for curbing the evasion of commodity taxes?," POLIS Working Papers 72, Institute of Public Policy and Public Choice - POLIS.
    2. Andreea Mitrut & François-Charles Wolff, 2014. "Investing in children’s education: are Muslim immigrants different?," Journal of Population Economics, Springer;European Society for Population Economics, vol. 27(4), pages 999-1022, October.
    3. Ramello, Giovanni B. & Silva, Francesco, 2006. "Appropriating signs and meaning: The elusive economics of trademark," POLIS Working Papers 70, Institute of Public Policy and Public Choice - POLIS.
    4. Thierry BAUDASSE & Ahmed DRIOUCHI, 2007. "Variety of Cultural Values and the Role of Education & Research for the Improvement of Intercultural Dialogues," LEO Working Papers / DR LEO 1742, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    5. Oosterbeek, Hessel & van der Klaauw, Bas, 2013. "Ramadan, fasting and educational outcomes," Economics of Education Review, Elsevier, vol. 34(C), pages 219-226.
    6. Ottone, Stefania, 2007. "Are people samaritans or avengers?," POLIS Working Papers 77, Institute of Public Policy and Public Choice - POLIS.
    7. Tyrefors Hinnerich, Björn & Höglin, Erik & Johannesson, Magnus, 2010. "Are boys discriminated in Swedish high schools?," Working Paper Series 2010:14, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    8. Adida, Claire L. & Laitin, David D. & Valfort, Marie-Anne, 2012. "Gender, Economic Development and Islam: A Perspective from France," IZA Discussion Papers 6421, IZA Network @ LISER.
    9. Niaz Asadullah, Mohammed & Kambhampati, Uma & Lopez Boo, Florencia, 2009. "Social Divisions in School Participation and Attainment in India: 1983-2004," IDB Publications (Working Papers) 1657, Inter-American Development Bank.
    10. Sulaimon Oyeniyi Adebayo & Munish Saini, 2023. "A scientometric study for scientific research publication on gender inequality," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(6), pages 5107-5135, December.
    11. Cugno, Franco & Ottoz, Elisabetta, 2006. "Static inefficiency of compulsory licensing: Quantity vs. price competition," POLIS Working Papers 73, Institute of Public Policy and Public Choice - POLIS.
    12. Breton, Albert & Scott, Anthony & Fraschini, Angela, 2007. "Explaining differences in environmental governance patterns between Canada, Italy and the United States," POLIS Working Papers 87, Institute of Public Policy and Public Choice - POLIS.
    13. Ortona, Guido & Ottone, Stefania & Ponzano, Ferruccio & Scacciati, Francesco, 2006. "Labour supply in presence of taxation financing public services. An experimental approach," POLIS Working Papers 71, Institute of Public Policy and Public Choice - POLIS.
    14. Nisreen Salti & Jad Chaaban, 2010. "The Political Economy of Attracting Public Funds: The Case of Lebanon," Working Papers 550, Economic Research Forum, revised 09 Jan 2010.
    15. Ramello, Giovanni, 2006. "What's in a sign? Trademark law and enconomic theory," POLIS Working Papers 67, Institute of Public Policy and Public Choice - POLIS.
    16. Bissey, Marie-Edith & Ortona, Guido, 2007. "The program for the simulation of electoral systems ALEX4.1: what it does and how to use it," POLIS Working Papers 82, Institute of Public Policy and Public Choice - POLIS.
    17. Bia, Michela, 2007. "The Propensity Score method in public policy evaluation: a survey," POLIS Working Papers 79, Institute of Public Policy and Public Choice - POLIS.
    18. Ottone, Stefania & Ponzano, Ferruccio & Ricciuti, Roberto, 2007. "Simulating voting rule reforms for the Italian parliament. An economic perspective," POLIS Working Papers 88, Institute of Public Policy and Public Choice - POLIS.
    19. Claire L. Adida & David D. Laitin & Marie-Anne Valfort, 2014. "Women, Muslim immigrants, and economic integration in France," Post-Print halshs-00977064, HAL.
    20. Marchese, Carla & Privileggi, Fabio, 2007. "Increasing the efficiency of the 'Studi di Settore' might backfire," POLIS Working Papers 83, Institute of Public Policy and Public Choice - POLIS.
    21. Nicita, Antonio & Ramello, Giovanni B., 2006. "Property, liability and market power: The antitrust side of copyright," POLIS Working Papers 75, Institute of Public Policy and Public Choice - POLIS.
    22. Asif Islam & Mohammad Amin, 2016. "Women Managers and The Gender-Based Gap in Access to Education: Evidence from Firm-Level Data in Developing Countries," Feminist Economics, Taylor & Francis Journals, vol. 22(3), pages 127-153, July.
    23. Berlanda, Andrea & Buonanno, Paolo & Puca, Marcello, 2023. "Religion and women: How Waldensians reduced the gender gap," Economics of Education Review, Elsevier, vol. 96(C).
    24. Bia, Michela & Mattei, Alessandra, 2007. "Application of the Generalized Propensity Score. Evaluation of public contributions to Piedmont enterprises," POLIS Working Papers 80, Institute of Public Policy and Public Choice - POLIS.

  67. Panizza, Ugo & Levy Yeyati, Eduardo, 2006. "The Elusive Costs of Sovereign Defaults," IDB Publications (Working Papers) 1584, Inter-American Development Bank.

    Cited by:

    1. Eduardo Borensztein & Ugo Panizza, 2010. "Do Sovereign Defaults Hurt Exporters?," Open Economies Review, Springer, vol. 21(3), pages 393-412, July.
    2. Schröder, Christoph, 2014. "Haircut size, haircut type and the probability of serial sovereign debt restructurings," ZEW Discussion Papers 14-126, ZEW - Leibniz Centre for European Economic Research.
    3. Aguiar, M. & Chatterjee, S. & Cole, H. & Stangebye, Z., 2016. "Quantitative Models of Sovereign Debt Crises," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1697-1755, Elsevier.
    4. Flores Zendejas, Juan & Altamura, Carlo Edoardo, 2025. "Episodic amnesia and selective memory, a literature overview of the 1982 crisis on the eve of its fortieth anniversary," Working Papers unige:184772, University of Geneva, Paul Bairoch Institute of Economic History.
    5. Anusha Chari & Ryan Leary & Toan Phan, 2025. "The Transmission of Quasi-Sovereign Default Risk: Evidence from Puerto Rico," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(2), pages 556-595, June.
    6. Manzano Quiroga Jeremías Angel, 2025. "No Pay, No Debt: Domestic Costs of Sovereign Defaults," Asociación Argentina de Economía Política: Working Papers 4817, Asociación Argentina de Economía Política.
    7. Gabriel Cuadra & Manuel Ramos-Francia & Santiago Garcia-Verdu, 2018. "On the role of financial aid in a default episode," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 27(1), pages 1-19, December.
    8. Michael Tomz & Mark L. J. Wright, 2007. "Do Countries Default in "Bad Times"?," CAMA Working Papers 2007-23, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    9. Eiji Fujii, 2017. "What Does Trade Openness Measure?," CESifo Working Paper Series 6656, CESifo.
    10. Michael Tomz & Mark L. J. Wright, 2013. "Empirical Research on Sovereign Debt and Default," CAMA Working Papers 2013-16, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
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    9. Bussière, Matthieu & Saxena, Sweta C. & Tovar, Camilo E., 2012. "Chronicle of currency collapses: Re examining the effects on output," Journal of International Money and Finance, Elsevier, vol. 31(4), pages 680-708.
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    16. Rapetti, Martin & Palazzo, Gabriel & Waldman, Joaquin, 2023. "Planes de estabilización: Evidencia de América Latina [Stabilization plans: Evidence from Latin America]," MPRA Paper 118910, University Library of Munich, Germany.
    17. Esteban Javier Leguizamón & Pablo Alfredo Gluzmann, 2019. "Tipo de cambio real y crecimiento económico: Un análisis de robustez," Asociación Argentina de Economía Política: Working Papers 4162, Asociación Argentina de Economía Política.
    18. Stefan Avdjiev & Valentina Bruno & Catherine Koch, 2018. "The dollar exchange rate as a global risk factor: evidence from investment," BIS Working Papers 695, Bank for International Settlements.
    19. Tatiana Evdokimova & Pavel Trunin & Andrei Zubarev, 2013. "The Impact of the Real Ruble Exchange Rate on the Economic Activity in Russia," Research Paper Series, Gaidar Institute for Economic Policy, issue 165P, pages 164-164.
    20. Jeffrey A. Frankel & George Saravelos, 2010. "Are Leading Indicators of Financial Crises Useful for Assessing Country Vulnerability? Evidence from the 2008-09 Global Crisis," NBER Working Papers 16047, National Bureau of Economic Research, Inc.
    21. Erdal Ozmen & Cihan Yalcin, 2007. "Kuresel Finansal Riskler Karsisinda Turkiye'de Reel Sektor Finansal Yapisi ve Borc Dolarizasyonu," Working Papers 0706, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    22. Rasaki, Mutiu Gbade & Malikane, Christopher, 2017. "An estimated financial accelerator model for small-open African economies," MPRA Paper 95977, University Library of Munich, Germany.

  69. Jaimovich, Dany & Panizza, Ugo, 2006. "Public Debt around the World: A New Dataset of Central Government Debt," IDB Publications (Working Papers) 1580, Inter-American Development Bank.

    Cited by:

    1. Sandeep Mazumder, 2012. "Determinants of the Sacrifice Ratio: Evidence from OECD and non-OECD countries," Working Papers 106, Wake Forest University, Economics Department.
    2. Pancrazi, Roberto & Prosperi, Lorenzo, 2020. "Transparency, political conflict, and debt," Journal of International Economics, Elsevier, vol. 126(C).
    3. Eslava, Marcela, 2006. "The Political Economy of Fiscal Policy: Survey," IDB Publications (Working Papers) 3343, Inter-American Development Bank.
    4. Ricardo Caballero & Kevin Cowan, 2006. "Financial Integration Without the Volatility," Working Papers Central Bank of Chile 387, Central Bank of Chile.
    5. S M Ali Abbas & Nazim Belhocine & Asmaa El-Ganainy & Mark Horton, 2011. "Historical Patterns and Dynamics of Public Debt—Evidence From a New Database," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(4), pages 717-742, November.
    6. Ayadi, Rym & Arbak, Emrah & Ben-Naceur, Sami & De Groen, Willem Pieter, 2013. "Determinants of Financial Development across the Mediterranean," CEPS Papers 7770, Centre for European Policy Studies.
    7. Cavallo, Eduardo A. & Daude, Christian, 2008. "Public Investment in Developing Countries: A Blessing or a Curse?," IDB Publications (Working Papers) 1631, Inter-American Development Bank.
    8. Dionísio Dias Carneiro & Thomas Wu, 2010. "Sovereign Risk and Out‐of‐Equilibrium Exchange Rate Dynamics," Review of Development Economics, Wiley Blackwell, vol. 14(4), pages 699-711, November.
    9. Honig, Adam, 2008. "Do improvements in government quality necessarily reduce the incidence of costly sudden stops?," Journal of Banking & Finance, Elsevier, vol. 32(3), pages 360-373, March.
    10. Samba Mbaye & Ms. Marialuz Moreno Badia & Kyungla Chae, 2018. "Global Debt Database: Methodology and Sources," IMF Working Papers 2018/111, International Monetary Fund.
    11. René Tapsoba, 2011. "Does Inflation Targeting Improve Fiscal Discipline? An Empirical Investigation," CERDI Working papers halshs-00553329, HAL.
    12. Miguel Rueda, 2008. "Breaking Credibility in Monetary Policy: The Role of Politics in the Stability of the Central Banker," Research Department Publications 4585, Inter-American Development Bank, Research Department.
    13. Eduardo Lora, 2007. "Public Investment in Infrastructure in Latin America: Is Debt the Culprit?," Research Department Publications 4502, Inter-American Development Bank, Research Department.
    14. Afonso, António & Gomes, Pedro & Rother, Philipp, 2007. "What “hides” behind sovereign debt ratings?," Working Paper Series 711, European Central Bank.
    15. Fabricio De Assis Campos Vieira & Márcio Holland & Marco Flávio Da Cunha Resende, 2014. "Financial Dollarization And Systemicrisks: New Empirical Evidence," Anais do XL Encontro Nacional de Economia [Proceedings of the 40th Brazilian Economics Meeting] 040, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    16. Kevin Cowan & Eduardo Levy Yeyati & Ugo Panizza & Federico Sturzenegger, 2006. "Sovereign Debt In The Americas: New Data and Stylized Facts," Business School Working Papers 2006-09, Universidad Torcuato Di Tella.
    17. António Afonso & José Alves & Olegs Matvejevs & Olegs Tkacevs, 2024. "Impact of Sovereign Debt Maturity on Fiscal Sustainability," Working Papers REM 2024/0358, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    18. Aktug, R. Erdem & Nayar, Nandkumar (Nandu) & Vasconcellos, Geraldo M., 2013. "Is sovereign risk related to the banking sector?," Global Finance Journal, Elsevier, vol. 24(3), pages 222-249.
    19. Lone Engbo Christiansen & Mr. Alessandro Prati & Mr. Luca A Ricci & Mr. Thierry Tressel, 2009. "External Balance in Low Income Countries," IMF Working Papers 2009/221, International Monetary Fund.
    20. Lane, Philip R. & Schmukler, Sergio L., 2007. "The international financial integration of China and India," Policy Research Working Paper Series 4132, The World Bank.
    21. M. Ayhan Kose & Sergio Kurlat & Franziska Ohnsorge & Naotaka Sugawara, 2017. "A Cross-Country Database of Fiscal Space," Koç University-TUSIAD Economic Research Forum Working Papers 1713, Koc University-TUSIAD Economic Research Forum.
    22. René TAPSOBA, 2012. "Does Inflation Targeting Matter for Attracting Foreign Direct Investment into Developing Countries?," Working Papers 201203, CERDI.
    23. Rueda R., Miguel Ricardo, 2008. "Breaking Credibility in Monetary Policy: The Role of Politics in the Stability of the Central Banker," IDB Publications (Working Papers) 1627, Inter-American Development Bank.
    24. Lora, Eduardo & Olivera, Mauricio, 2006. "Public Debt and Social Expenditure: Friends or Foes?," IDB Publications (Working Papers) 3298, Inter-American Development Bank.
    25. Mr. Jeromin Zettelmeyer, 2006. "Growth and Reforms in Latin America: A Survey of Facts and Arguments," IMF Working Papers 2006/210, International Monetary Fund.
    26. Alexander M. Petersen & Boris Podobnik & Davor Horvatic & H. Eugene Stanley, 2010. "Scale invariant properties of public debt growth," Papers 1002.2491, arXiv.org.
    27. Miguel Rueda, 2008. "Credibilidad en la política monetaria: Papel de políticas en la estabilidad del Presidente del Banco Central," Research Department Publications 4586, Inter-American Development Bank, Research Department.
    28. Claeys, Peter & Moreno, Rosina & Suriñach, Jordi, 2012. "Debt, interest rates, and integration of financial markets," Economic Modelling, Elsevier, vol. 29(1), pages 48-59.
    29. Ourania Dimakou, 2010. "Central Bank Independence, Bureaucratic Corruption and Fiscal Responses - Empirical Evidence," Birkbeck Working Papers in Economics and Finance 1012, Birkbeck, Department of Economics, Mathematics & Statistics.
    30. Gheorghe Savoiu & Constantin Manea, 2014. "Kondratiev type cyclicality of the Romanian economy, grounded in three key statistical indicators: GDP, CPI or CLI and debt," Romanian Statistical Review, Romanian Statistical Review, vol. 62(1), pages 3-22, March.
    31. Anna Samarina & Jakob De Haan, 2014. "Right On Target: Exploring The Factors Leading To Inflation Targeting Adoption," Contemporary Economic Policy, Western Economic Association International, vol. 32(2), pages 372-389, April.
    32. Lora, Eduardo, 2007. "La Vulnerabilidad Fiscal del Gasto Social: ¿Es Diferente América Latina?," IDB Publications (Working Papers) 2169, Inter-American Development Bank.
    33. Arturo Harker & Marcela Melendez, 2008. "Revisiting Economic Growth in Colombia: A Microeconomic Perspective," Research Department Publications 2006, Inter-American Development Bank, Research Department.
    34. Huang, Ho-Chuan (River) & Yeh, Chih-Chuan, 2017. "Level, structure, and volatility of financial development and inflation targeting," Journal of Empirical Finance, Elsevier, vol. 44(C), pages 108-124.
    35. Moessinger, Marc-Daniel, 2012. "Do personal characteristics of finance ministers affect the development of public debt?," ZEW Discussion Papers 12-068, ZEW - Leibniz Centre for European Economic Research.
    36. Elkhan Sadik-Zada, Andrea Gatto & Andrea Gatto, 2019. "Determinants of the Public Debt and the Role of the Natural Resources: A Cross-Country Analysis," Working Papers 2019.04, Fondazione Eni Enrico Mattei.
    37. Mr. S. M. Ali Abbas & Nazim Belhocine & Ms. Asmaa A ElGanainy & Mr. Mark A Horton, 2010. "A Historical Public Debt Database," IMF Working Papers 2010/245, International Monetary Fund.
    38. Hostland, Doug, 2009. "Low-Income Countries' Access to Private Debt Markets," Policy Research Working Paper Series 4829, The World Bank.
    39. Ran Li, 2021. "Macroeconomic Resilience in the Caribbean," World Bank Publications - Reports 36423, The World Bank Group.
    40. Marc-Daniel Moessinger, 2014. "Do the personal characteristics of finance ministers affect changes in public debt?," Public Choice, Springer, vol. 161(1), pages 183-207, October.
    41. Joao Jalles, 2023. "Pandemics and economic turmoil in the shortrun: the role of fiscal space," Working Papers 2023.02, International Network for Economic Research - INFER.
    42. J. Paul Elhorst & Pim Heijnen & Anna Samarina & Jan P. A. M. Jacobs, 2017. "Transitions at Different Moments in Time: A Spatial Probit Approach," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 32(2), pages 422-439, March.
    43. Ramón Espinasa, 2008. "Prospects for the Oil-importing Countries of the Caribbean," Research Department Publications 2007, Inter-American Development Bank, Research Department.
    44. Syed Sadaqat Ali Shah & David Dickinson & Kunyu Tao & Chan Wang & Liqing Zhang, 2025. "The Heterogenous Threshold Effects of Public Debt on Economic Growth: Empirical Evidence from Developing Countries," Open Economies Review, Springer, vol. 36(1), pages 243-280, February.
    45. Pandow, Bilal, 2018. "International practices and situating public debt management in Oman," MPRA Paper 85651, University Library of Munich, Germany.
    46. Mike Seiferling, 2020. "Apples, oranges and lemons: public sector debt statistics in the 21st century," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-17, December.
    47. Eduardo Lora, 2007. "The Fiscal Vulnerability of Social Public Expenditure: Is Latin America Different?," Research Department Publications 4505, Inter-American Development Bank, Research Department.
    48. Jamel Boukhatem, 2009. "Essai sur les déterminants empiriques de développement des marchés obligataires," Working Papers hal-04140858, HAL.
    49. Heijnen, P. & Samarina, A.. & Jacobs, J.P.A.M. & Elhorst, J.P., 2013. "State transfers at different moments in time," Research Report 13006-EEF, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    50. Campos, Camila F.S. & Jaimovich, Dany & Panizza, Ugo, 2006. "The unexplained part of public debt," Emerging Markets Review, Elsevier, vol. 7(3), pages 228-243, September.
    51. Dimakou, Ourania, 2015. "Bureaucratic corruption and the dynamic interaction between monetary and fiscal policy," European Journal of Political Economy, Elsevier, vol. 40(PA), pages 57-78.
    52. Weist, Dana & Togo, Eriko & Prasad, Abha, 2010. "Crisis preparedness and debt management in low income countries : strengthening institutions and policy frameworks," Policy Research Working Paper Series 5372, The World Bank.
    53. Huang, Xun & Zhang, Chengzhao, 2024. "What explains the recovery speed of financial markets from banking crises?," Research in International Business and Finance, Elsevier, vol. 70(PA).
    54. Eduardo Lora, 2007. "Inversión pública en infraestructura en América Latina: ¿Es la deuda la culpable?," Research Department Publications 4503, Inter-American Development Bank, Research Department.
    55. Marcela Eslava & Oskar Nupia, 2010. "Political Fragmentation and Government Spending: Bringing Ideological Polarization into the Picture," Documentos CEDE 6713, Universidad de los Andes, Facultad de Economía, CEDE.

  70. Eduardo Levy Yeyati & Ugo Panizza, 2006. "The Cost of Reserves," Business School Working Papers 2006-11, Universidad Torcuato Di Tella.

    Cited by:

    1. Vittorio Corbo & Klaus Schmidt-Hebbel, 2013. "The International Crisis and Latin America," Monetaria, CEMLA, vol. 0(1), pages 37-62, January-j.
    2. Rasmus Fatum & James Yetman, 2018. "Accumulation of foreign currency reserves and risk-taking," BIS Working Papers 728, Bank for International Settlements.
    3. Sula, Ozan, 2011. "Demand for international reserves in developing nations: A quantile regression approach," Journal of International Money and Finance, Elsevier, vol. 30(5), pages 764-777, September.
    4. Ms. Rina Bhattacharya & Katja Mann & Ms. Mwanza Nkusu, 2018. "Estimating the Demand for Reserve Assets Across Diverse Groups," IMF Working Papers 2018/047, International Monetary Fund.
    5. Sandri, Damiano, 2023. "FX intervention to stabilize or manipulate the exchange rate? Inference from profitability," Journal of International Money and Finance, Elsevier, vol. 131(C).
    6. Fatum, Rasmus & Hattori, Takahiro & Yamamoto, Yohei, 2023. "Reserves and risk: Evidence from China," Journal of International Money and Finance, Elsevier, vol. 134(C).
    7. Jeanne, Olivier & Ranciere, Romain, 2008. "The Optimal Level of International Reserves For Emerging Market Countries: A New Formula and Some Applications," CEPR Discussion Papers 6723, Centre for Economic Policy Research.
    8. Hur, Sewon & Kondo, Illenin O., 2016. "A theory of rollover risk, sudden stops, and foreign reserves," Journal of International Economics, Elsevier, vol. 103(C), pages 44-63.
    9. Layal Mansour, 2014. "The Power of International Reserves: the impossible trinity becomes possible," Working Papers halshs-01054614, HAL.
    10. Eduardo Levy-Yeyati, 2011. "Exchange Rate Regimes," Business School Working Papers 2011-02, Universidad Torcuato Di Tella.
    11. Abdoul’ Ganiou Mijiyawa & Djoulassi K. Oloufade, 2023. "Effect of Remittance Inflows on External Debt in Developing Countries," Open Economies Review, Springer, vol. 34(2), pages 437-470, April.
    12. Sula, Ozan & Oguzoglu, Umut, 2021. "International reserves and economic growth," International Review of Economics & Finance, Elsevier, vol. 72(C), pages 16-28.
    13. Inci Gumus, 2016. "The Relationship Between Sovereign Spreads and International Reserves: Does the Exchange Rate Regime Matter?," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(3), pages 658-673, March.
    14. Yavuz Arslan & Carlos Cantú, 2019. "The size of foreign exchange reserves," BIS Papers chapters, in: Bank for International Settlements (ed.), Reserve management and FX intervention, volume 104, pages 1-23, Bank for International Settlements.
    15. Flavia Corneli & Emanuele Tarantino, 2011. "Reserve management and sovereign debt cost in a world with liquidity crises," Temi di discussione (Economic working papers) 797, Bank of Italy, Economic Research and International Relations Area.
    16. Kurmas Akdogan, 2010. "Foreign Exchange Reserve Demand : An Information Value Approach," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 10(2), pages 33-44.
    17. Steiner, Andreas, 2013. "How central banks prepare for financial crises – An empirical analysis of the effects of crises and globalisation on international reserves," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 208-234.
    18. Eduardo Levy Yeyati & Augusto de la Torre & Samuel Pienknagura, 2013. "Latin America’s Deceleration and the Exchange Rate Buffer : LAC Semiannual Report, October 2013," World Bank Publications - Reports 16107, The World Bank Group.
    19. Obstfeld, Maurice & Taylor, Alan M. & Shambaugh, Jay, 2008. "Financial Stability, the Trilemma, and International Reserves," CEPR Discussion Papers 6693, Centre for Economic Policy Research.
    20. Qian, Xingwang & Steiner, Andreas, 2017. "International reserves and the maturity of external debt," Journal of International Money and Finance, Elsevier, vol. 73(PB), pages 399-418.
    21. Fernando Eguren Martin & Mark Joy & Claudia Maurini & Alessandro Moro & Valerio Nispi Landi & Alessandro Schiavone & Carlos van Hombeeck, 2020. "Capital flows during the pandemic: lessons for a more resilient international financial architecture," Questioni di Economia e Finanza (Occasional Papers) 589, Bank of Italy, Economic Research and International Relations Area.
    22. Sula, Ozan, 2008. "Demand for International Reserves: A Quantile Regression Approach," MPRA Paper 11680, University Library of Munich, Germany.
    23. Eduardo Levy Yeyati, 2013. "Things We Learn from Crises," Monetaria, CEMLA, vol. 0(1), pages 199-230, January-j.
    24. Sosa-Padilla, César & Sturzenegger, Federico, 2023. "Does it matter how central banks accumulate reserves? Evidence from sovereign spreads," Journal of International Economics, Elsevier, vol. 140(C).
    25. Marta Ruiz-Arranz & Milan Zavadjil, 2008. "Are Emerging Asia’s Reserves Really Too High?," IMF Working Papers 2008/192, International Monetary Fund.
    26. Mateane, Lebogang, 2020. "Risk preferences, global market conditions and foreign debt: Is there any role for the currency composition of FX reserves?," EconStor Preprints 227484, ZBW - Leibniz Information Centre for Economics.
    27. Yawen Wang & Qing Wang & Zhaopeng Xing, 2022. "Climate Disaster Losses and Foreign Exchange Reserve Dynamics: Evidence of East Asia Pacific," Sustainability, MDPI, vol. 14(21), pages 1-15, November.
    28. Federico Sturzenegger, 2020. "How should Central Banks accumulate reserves?," Working Papers 139, Universidad de San Andres, Departamento de Economia, revised May 2020.
    29. Levy Yeyati, Eduardo, 2008. "The cost of reserves," Economics Letters, Elsevier, vol. 100(1), pages 39-42, July.
    30. Eduardo Levy-Yeyati & Tomás Williams, 2010. "US Rates and Emerging Markets Spreads," Business School Working Papers 2010-02, Universidad Torcuato Di Tella.
    31. Kohlscheen, E., 2020. "Limiting risk premia in EMEs: The role of FX reserves," Economics Letters, Elsevier, vol. 196(C).
    32. Youngjin Yun, 2018. "Reserve Accumulation and Bank Lending: Evidence from Korea," Working Papers 2018-15, Economic Research Institute, Bank of Korea.
    33. Allan Hernández & Alberto Trejos, 2013. "Fiscal Moral Hazard Due to Monetary Integration," Monetaria, CEMLA, vol. 0(1), pages 63-85, January-j.
    34. Beck, Roland & Weber, Sebastian, 2010. "Should larger reserve holdings be more diversified?," Working Paper Series 1193, European Central Bank.
    35. Jenny Kilp & Vafa Anvari & Samantha Springfield & Crystal Roberts, 2019. "The Impact of the Global Financial Safety Net on Emerging Market Bond Spreads," Russian Journal of Money and Finance, Bank of Russia, vol. 78(2), pages 43-66, June.
    36. Kurmas Akdogan, 2010. "Foreign Exchange Reserves in a Credit Constrained Economy," Birkbeck Working Papers in Economics and Finance 1014, Birkbeck, Department of Economics, Mathematics & Statistics.
    37. Manuel Ramos -Francia & Ana María Aguilar-Argaez & Santiago García-Verdú & Gabriel Cuadra-García, 2013. "Heading into Trouble: A Comparison of the Latin American Crises and the Euro Area’s Current Crisis," Monetaria, CEMLA, vol. 0(1), pages 87-165, January-j.
    38. Eduardo Fernández-Arias & Eduardo Levy-Yeyati, 2012. "Global Financial Safety Nets: Where Do We Go from Here?," International Finance, Wiley Blackwell, vol. 15(1), pages 37-68, April.
    39. Latha Sreeram & Samie Ahmed Sayed, 2023. "Factors Associated with Growth in India’s International Reserves: VECM Analysis," Foreign Trade Review, , vol. 58(3), pages 386-400, August.
    40. Hidehiko Matsumoto, 2022. "Foreign Reserve Accumulation, Foreign Direct Investment, and Economic Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 241-262, January.
    41. João Pedro Bumachar Resende & Ilan Goldfajn, 2013. "Latin America During the Crisis: The Role of Fundamentals," Monetaria, CEMLA, vol. 0(1), pages 167-198, January-j.
    42. Eduardo Levy Yeyati & Juna Francisco Gómez, 2022. "Leaning-against-the-wind Intervention and the “Carry-Trade” View of the Cost of Reserves," Working Papers 163, Red Nacional de Investigadores en Economía (RedNIE).
    43. Woo Jin Choi & Ju Hyun Pyun & Youngjin Yun, 2020. "Reserve Accumulation and Firm Investment: Evidence from Matched Bank–Firm Data," GRU Working Paper Series GRU_2020_027, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
    44. Eduardo Levy Yeyati, 2023. "Sovereign Debt Management," Working Papers 265, Red Nacional de Investigadores en Economía (RedNIE).

  71. Panizza, Ugo & Yañez, Mónica, 2006. "Why are Latin Americans so Unhappy about Reforms?," IDB Publications (Working Papers) 1559, Inter-American Development Bank.

    Cited by:

    1. Newburry, William & Gardberg, Naomi A. & Sanchez, Juan I., 2014. "Employer Attractiveness in Latin America: The Association Among Foreignness, Internationalization and Talent Recruitment," Journal of International Management, Elsevier, vol. 20(3), pages 327-344.
    2. Irina Denisova & Markus Eller & Timothy Frye & Ekaterina Zhuravskaya, 2010. "Everyone Hates Privatization, but Why? Survey Evidence from 28 Post-Communist Countries," Working Papers w0143, Center for Economic and Financial Research (CEFIR).
    3. Grilli, Enzo, 2005. "Political economy and economic development in Latin America in the second half of the 20th century," Journal of Policy Modeling, Elsevier, vol. 27(1), pages 1-31, February.
    4. Irina Denisova & Markus Eller & Timothy Frye & Ekaterina Zhuravskaya, 2009. "Who Wants To Revise Privatization? The Complementarity of Market Skills and Institutions," Working Papers w0127, Center for Economic and Financial Research (CEFIR).
    5. Murillo, Maria Victoria & Foulon, Carmen Le, 2006. "Crisis and policymaking in Latin America: The case of Chile's 1998-99 electricity crisis," World Development, Elsevier, vol. 34(9), pages 1580-1596, September.
    6. Rafael Di Tella & Robert MacCulloch, 2009. "Why Doesn't Capitalism Flow to Poor Countries?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 40(1 (Spring), pages 285-332.
    7. Qichun He & Meng Sun & Heng-fu Zou, 2012. "Financial Deregulation, Absorptive Capability, Technology Diffusion and Growth: Evidence from Chinese Panel Data," CEMA Working Papers 560, China Economics and Management Academy, Central University of Finance and Economics.
    8. Stein, Ernesto & Caro, Lorena, 2017. "Ideology and taxation in Latin America," LSE Research Online Documents on Economics 123080, London School of Economics and Political Science, LSE Library.
    9. Bonnet, Céline & Dubois, Pierre & Martimort, David & Straub, Stéphane, 2009. "Empirical Evidence on Satisfaction with Privatization in Latin America: Welfare Effects and Beliefs," IDEI Working Papers 566, Institut d'Économie Industrielle (IDEI), Toulouse.
    10. Denisova, Irina & Zhuravskaya, Ekaterina & Frye, Timothy & Eller, Markus, 2007. "Who Wants to Revise Privatization and Why? Evidence from 28 Post-Communist Countries," CEPR Discussion Papers 6603, Centre for Economic Policy Research.
    11. Avilés, Judith Mariscal, 2020. "A tale of two reforms: Telecommunications reforms in Mexico," Telecommunications Policy, Elsevier, vol. 44(7).
    12. Sirovátka, Tomáš & Guzi, Martin & Saxonberg, Steve, 2019. "Support for Market Economy Principles in European Post-Communist Countries during 1999–2008," MPRA Paper 97585, University Library of Munich, Germany.
    13. Carro Fernandez, Martha, 2007. "Welcoming Foreign Direct Investment? A Political Economy Approach to FDI Policies in Argentina and Brazil," MPRA Paper 47252, University Library of Munich, Germany.

  72. Panizza, Ugo & Borensztein, Eduardo & Eichengreen, Barry, 2006. "Debt Instruments and Policies in the New Millennium: New Markets and New Opportunities," IDB Publications (Working Papers) 1576, Inter-American Development Bank.

    Cited by:

    1. World Bank, 2009. "Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth," World Bank Publications - Reports 3039, The World Bank Group.
    2. Singh, Rajesh & Hasan, Mohammad, 2023. "Sovereign Debt Maturity Structure and Dilution," ISU General Staff Papers 202311011433100000, Iowa State University, Department of Economics.
    3. Johansson, Anders C., 2008. "Interdependencies among Asian bond markets," Journal of Asian Economics, Elsevier, vol. 19(2), pages 101-116, April.
    4. Stijn Claessens & Daniela Klingebiel & Sergio L. Schmukler, 2007. "Government Bonds in Domestic and Foreign Currency: the Role of Institutional and Macroeconomic Factors," Review of International Economics, Wiley Blackwell, vol. 15(2), pages 370-413, May.
    5. Daniel, L., 2008. "Foreign investors’ participation in emerging market economies’ domestic bond markets," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 12, pages 61-77, Summer.
    6. Augusto de la Torre & Sergio L. Schmukler, 2007. "Emerging Capital Markets and Globalization : The Latin American Experience," World Bank Publications - Books, The World Bank Group, number 7187.
    7. Hameed, Kamran & Arshed, Noman & Yazdani, Naveed & Munir, Mubbasher, 2021. "Motivating business towards innovation: A panel data study using dynamic capability framework," Technology in Society, Elsevier, vol. 65(C).
    8. Marina-Eliza Spaliara & Serafeim Tsoukas, 2010. "The Role of Bond Finance in Firms' Survival During the Asian Crisis," Working Papers 032010, Hong Kong Institute for Monetary Research.
    9. Harald Habermann, 2010. "Financial Development in Mexico between 1975 and 2009," Zeitschrift für Nachwuchswissenschaftler - German Journal for Young Researchers, Zeitschrift für Nachwuchswissenschaftler - German Journal for Young Researchers, vol. 2(1), pages 62-71, March.
    10. Barry Eichengreen & Pipat Luengnaruemitchai, 2006. "Bond Markets as Conduits for Capital Flows: How Does Asia Compare?," NBER Working Papers 12408, National Bureau of Economic Research, Inc.
    11. Jamel Boukhatem, 2009. "Essai sur les déterminants empiriques de développement des marchés obligataires," Working Papers hal-04140858, HAL.
    12. Avellaneda-Kantt, Maria Belen, 2012. "Perspectiva Macroeconomica y Tendencias en el Mercado de Deuda Latinoamericano: ¿El viraje hacia instrumentos de Fondeo Domesticos? [Macroeconomic Outlook and Trends in Latin American Debt Capital Markets: A turn to domestic sources of funding?]," MPRA Paper 44271, University Library of Munich, Germany, revised 16 Jan 2013.

  73. Alejandro Micco & Ugo Panizza, 2006. "Bank Ownership and Lending Behavior," Working Papers Central Bank of Chile 369, Central Bank of Chile.

    Cited by:

    1. Marcelin, Isaac & Lo, Gaye-Del & Sène, Babacar & Sun, Wei & Teclezion, Mussie, 2024. "Financial intermediation around national elections: Evidence of state-owned banks as credit smoothers," Emerging Markets Review, Elsevier, vol. 61(C).
    2. Marchese, Carla, 2006. "Rewarding the consumer for curbing the evasion of commodity taxes?," POLIS Working Papers 72, Institute of Public Policy and Public Choice - POLIS.
    3. Bofinger, Peter & Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Wieland, Volker, 2018. "Vor wichtigen wirtschaftspolitischen Weichenstellungen. Jahresgutachten 2018/19 [Setting the Right Course for Economic Policy. Annual Report 2018/19]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201819.
    4. Boulanouar, Zakaria & Alqahtani, Faisal & Hamdi, Besma, 2021. "Bank ownership, institutional quality and financial stability: evidence from the GCC region," Pacific-Basin Finance Journal, Elsevier, vol. 66(C).
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    140. De Haas, Ralph & Korniyenko, Yevgeniya & Pivovarsky, Alexander & Tsankova, Teodora, 2015. "Taming the herd? Foreign banks, the Vienna Initiative and crisis transmission," Journal of Financial Intermediation, Elsevier, vol. 24(3), pages 325-355.
    141. Ririen Setiati Riyanti & Iván Arribas & Silvia Pazzi & Emili Tortosa-Ausina, 2022. "The impacts of static ownership types and governance changes on small business lending: Evidence from Indonesia," Working Papers 2022/13, Economics Department, Universitat Jaume I, Castellón (Spain).
    142. Alberto Huidobro, 2014. "Differences between loans granted by commercial and development banks: A cross-sectional analysis of interest rate margins," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 29(2), pages 163-224.
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  74. Borensztein, Eduardo & Panizza, Ugo, 2006. "Do Sovereign Defaults Hurt Exporters?," IDB Publications (Working Papers) 1569, Inter-American Development Bank.

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    1. Iacovone, Leonardo & Zavacka, Veronika, 2009. "Banking crises and exports : lessons from the past," Policy Research Working Paper Series 5016, The World Bank.
    2. Eichler, Stefan, 2014. "The political determinants of sovereign bond yield spreads," Journal of International Money and Finance, Elsevier, vol. 46(C), pages 82-103.
    3. Anusha Chari & Ryan Leary & Toan Phan, 2025. "The Transmission of Quasi-Sovereign Default Risk: Evidence from Puerto Rico," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(2), pages 556-595, June.
    4. Terhi Maczulskij & Zouheir El‐Sahli & Katariina Nilsson Hakkala, 2026. "Firm‐level responses to export demand shocks: Swedish and Finnish exporters," Economica, London School of Economics and Political Science, vol. 93(371), pages 1070-1094, July.
    5. Michael Tomz & Mark L. J. Wright, 2013. "Empirical Research on Sovereign Debt and Default," CAMA Working Papers 2013-16, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    6. Brutti, Filippo, 2008. "Legal enforcement, public supply of liquidity and sovereign risk," MPRA Paper 13949, University Library of Munich, Germany.
    7. Llosa, Luis Gonzalo & Panizza, Ugo, 2015. "La gran depresión de la economía peruana: ¿Una tormenta perfecta?," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 30, pages 91-117.
    8. Youssouf Kiendrebeogo, 2013. "How Do Banking Crises Affect Bilateral Exports?," Working Papers halshs-00843009, HAL.
    9. Silvia Marchesi & Tania Masi, 2019. "Sovereign risk after sovereign restructuring. Private and official default," Working Papers 423, University of Milano-Bicocca, Department of Economics, revised Nov 2019.
    10. Mr. Eduardo Borensztein & Ugo Panizza, 2008. "The Costs of Sovereign Default," IMF Working Papers 2008/238, International Monetary Fund.
    11. El-Sahli, Zouheir & Maczulskij, Terhi & Nilsson Hakkala, Katariina, 2023. "Firm-Level Consequences of Export Demand Shocks: Swedish and Finnish Exporters," ETLA Working Papers 108, The Research Institute of the Finnish Economy.
    12. Carlo de Bassa Scheresberg, Francesco Passarelli, 2011. "Strategic Sovereign Defaults under International Sanctions," ISLA Working Papers 42, ISLA, Centre for research on Latin American Studies and Transition Economies, Universita' Bocconi, Milano, Italy.
    13. Yeyati, Eduardo Levy & Panizza, Ugo, 2011. "The elusive costs of sovereign defaults," Journal of Development Economics, Elsevier, vol. 94(1), pages 95-105, January.
    14. Bédhat Jean-Marc Atsebi & Jean-Louis Combes & Alexandru Minea, 2019. "The trade costs of financial crises," Working Papers halshs-01990335, HAL.
    15. Christoph A. Schaltegger & Martin Weder, 2013. "Fiscal Adjustments and the Probability of Sovereign Default," CREMA Working Paper Series 2013-06, Center for Research in Economics, Management and the Arts (CREMA).
    16. Eliphas Ndou, 2022. "Exchange rate changes on export volumes in South Africa under the inflation targeting period," SN Business & Economics, Springer, vol. 2(6), pages 1-25, June.
    17. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2021. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of a Default," Development Working Papers 475, Centro Studi Luca d'Agliano, University of Milano.
    18. Jean-Sébastien Pentecôte & Fabien Rondeau, 2015. "Trade spillovers on output growth during the 2008 financial crisis," Post-Print hal-02440549, HAL.
    19. Accominotti, Olivier & Albers, Thilo & Kessler, Philippe & Oosterlinck, Kim, 2024. "Sovereign defaults and international trade: Germany and its creditors in the 1930s," LSE Research Online Documents on Economics 122087, London School of Economics and Political Science, LSE Library.
    20. Eiji Fujii, 2020. "Currency Portfolio of External Debt, Exchange Rate Cyclicality, and Consumption Volatility," CESifo Working Paper Series 8287, CESifo.
    21. Anusha Chari & Ryan Leary & Toan Phan, 2018. "The Costs of (sub)Sovereign Default Risk: Evidence from Puerto Rico," Working Paper 18-3, Federal Reserve Bank of Richmond.
    22. Flores Zendejas, Juan, 2015. "Capital Markets and Sovereign Defaults: A Historical Perspective," Working Papers unige:73325, University of Geneva, Paul Bairoch Institute of Economic History.
    23. Silvia Marchesi & Valeria Prato, 2013. "The cost of defaults: the impact of haircuts on economic growth," Working Papers 265, University of Milano-Bicocca, Department of Economics, revised Dec 2013.
    24. Luis Gonzalo Llosa & Ugo Panizza, 2015. "Peru’s Great Depression A Perfect Storm?," Working Papers 45, Peruvian Economic Association.
    25. Silvia Marchesi & Tania Masi, 2017. "Life after default: Private vs. official sovereign debt restructurings," Working Papers 370, University of Milano-Bicocca, Department of Economics, revised Feb 2019.
    26. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2024. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of Private or Official Debt Restructurings," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(1), pages 292-334, March.
    27. Apeti, Ablam Estel & Obeng, Samuel & Tagem, Abrams & Were, Maureen, 2025. "Sovereign Default and Public Debt: What role for Fiscal Rules?," The Warwick Economics Research Paper Series (TWERPS) 1567, University of Warwick, Department of Economics.
    28. Silvia Marchesi & Tania Masi, 2020. "Life after default. Private and Official Deals," Working Papers 431, University of Milano-Bicocca, Department of Economics, revised Feb 2020.
    29. Eichengreen, Barry & Gullapalli, Rachita & Panizza, Ugo, 2009. "Capital account liberalization, financial development and industry growth: a synthetic view," POLIS Working Papers 128, Institute of Public Policy and Public Choice - POLIS.
    30. Reza Y. Siregar & C.S. Lim, Vincent, 2011. "Real Sector Propagation of the Recent Global Financial Crisis: An Integrative Report," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp83, April-Jun.
    31. Kuvshinov, Dmitry & Zimmermann, Kaspar, 2019. "Sovereigns going bust: Estimating the cost of default," European Economic Review, Elsevier, vol. 119(C), pages 1-21.
    32. Charles Serfaty, 2024. "Sovereign Default and International Trade," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(4), pages 1449-1501, December.
    33. Olivier Accominotti & Thilo N H Albers & Kim Oosterlinck, 2024. "Selective Default Expectations," The Review of Financial Studies, Society for Financial Studies, vol. 37(6), pages 1979-2015.
    34. Eduardo Levy Yeyati & Ugo Panizza, 2006. "The Cost of Reserves," Business School Working Papers 2006-11, Universidad Torcuato Di Tella.
    35. Beck Hanno & Wentzel Dirk, 2011. "Ordnungspolitische Überlegungen zu einer Insolvenzordnung für Staaten / Principles for an Insolvency Code for States," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 62(1), pages 71-100, January.
    36. Legaspe Francisco, 2023. "Effect of corruption on economic growth," Asociación Argentina de Economía Política: Working Papers 4663, Asociación Argentina de Economía Política.
    37. Silvia Marchesi & Tania Masi, 2020. "The price of haircuts: private and official default," Development Working Papers 460, Centro Studi Luca d'Agliano, University of Milano, revised 06 Feb 2020.
    38. Sebastian Edwards & Francis A. Longstaff & Alvaro Garcia Marin, 2015. "The U.S. Debt Restructuring of 1933: Consequences and Lessons," NBER Working Papers 21694, National Bureau of Economic Research, Inc.
    39. Markus Jorra, 2011. "The Heterogeneity of Default Costs: Evidence from Recent Sovereign Debt Crises," MAGKS Papers on Economics 201151, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    40. Silvia, Marchesi, 2015. "The cost of default: private vs. official sovereign debt restructurings," Working Papers 320, University of Milano-Bicocca, Department of Economics, revised 28 Dec 2015.
    41. Nikolai Stähler, 2013. "Recent Developments In Quantitative Models Of Sovereign Default," Journal of Economic Surveys, Wiley Blackwell, vol. 27(4), pages 605-633, September.
    42. Eiji Fujii, 2015. "External Debt and International Trade: Another Mismatch," CESifo Working Paper Series 5519, CESifo.
    43. Brutti, Filippo, 2011. "Sovereign defaults and liquidity crises," Journal of International Economics, Elsevier, vol. 84(1), pages 65-72, May.
    44. Rohan Pitchford & Mark L. J. Wright, 2013. "On the contribution of game theory to the study of sovereign debt and default," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 29(4), pages 649-667, WINTER.
    45. Dungey, Mardi & Khan, Faisal & Raghavan, Mala, 2018. "International trade and the transmission of shocks: The case of ASEAN-4 and NIE-4 economies," Economic Modelling, Elsevier, vol. 72(C), pages 109-121.

  75. Alejandro Micco & Ugo Panizza & Monica Yañez, 2005. "Bank Ownership and Performance Does Politics Matter?," Working Papers Central Bank of Chile 356, Central Bank of Chile.

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    1. Rania Kabir & David Flath, 2021. "Government banks and financial development," International Journal of Economic Policy Studies, Springer, vol. 15(1), pages 75-102, February.
    2. Marchese, Carla, 2006. "Rewarding the consumer for curbing the evasion of commodity taxes?," POLIS Working Papers 72, Institute of Public Policy and Public Choice - POLIS.
    3. Eduardo Fernández-Arias & Ricardo Hausmann & Ugo Panizza, 2020. "Smart Development Banks," Journal of Industry, Competition and Trade, Springer, vol. 20(2), pages 395-420, June.
    4. Wang, Li & Menkhoff, Lukas & Schröder, Michael & Xu, Xian, 2015. "Politicians' promotion incentives and bank risk exposure in China," ZEW Discussion Papers 15-026, ZEW - Leibniz Centre for European Economic Research.
    5. Fiorentino, Elisabetta & Vincenzo, Alessio De & Heid, Frank & Karmann, Alexander & Koetter, Michael, 2009. "The effects of privatization and consolidation on bank productivity: comparative evidence from Italy and Germany," Discussion Paper Series 2: Banking and Financial Studies 2009,03, Deutsche Bundesbank.
    6. Ghosh, Saibal, 2013. "Macroprudential regulation and bank performance:Does ownership matter?," MPRA Paper 65212, University Library of Munich, Germany.
    7. Iftekhar Hasan & Liang Song, 2012. "Bank Ownership and Performance: A Global Perspective," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 2, Edward Elgar Publishing.
    8. Jie Liu & Qiaoyun Zhang & Chao Xiao, 2022. "Large private shareholders, industrial policies and industrial loans of city commercial banks: Evidence from China," PLOS ONE, Public Library of Science, vol. 17(12), pages 1-16, December.
    9. Samarasinghe, Ama, 2023. "Stock market liquidity and bank stability," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    10. Eichler, Stefan, 2014. "The political determinants of sovereign bond yield spreads," Journal of International Money and Finance, Elsevier, vol. 46(C), pages 82-103.
    11. Beck, Thorsten & Demirguc-Kunt, Asli & Merrouche, Ouarda, 2010. "Islamic vs. conventional banking : business model, efficiency and stability," Policy Research Working Paper Series 5446, The World Bank.
    12. Marco FRIGERIO & Daniela VANDONE, 2018. "Virtuous or Vicious? Development Banks in Europe," Departmental Working Papers 2018-07, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    13. Christopher F. Baum & Mustafa Caglayan & Oleksandr Talavera, 2010. "Parliamentary Election Cycles and the Turkish Banking Sector," University of East Anglia Applied and Financial Economics Working Paper Series 002, School of Economics, University of East Anglia, Norwich, UK..
    14. Chen, Pei-Fen & Liu, Ping-Chin, 2013. "Bank ownership, performance, and the politics: Evidence from Taiwan," Economic Modelling, Elsevier, vol. 31(C), pages 578-585.
    15. Bertay, A.C. & Demirgüc-Kunt, A. & Huizinga, H.P., 2012. "Bank Ownership and Credit over the Business Cycle : Is Lending by State Banks Less Procyclical?," Other publications TiSEM 40f564a9-123d-454e-beb5-a, Tilburg University, School of Economics and Management.
    16. Li Wang & Lukas Menkhoff & Michael Schröder & Xian Xu, 2018. "Politicians' Promotion Incentives and Bank Risk Exposure," Discussion Papers of DIW Berlin 1771, DIW Berlin, German Institute for Economic Research.
    17. Muhammad Haris & Hongxing Yao & Gulzara Tariq & Hafiz Mustansar Javaid & Qurat Ul Ain, 2019. "Corporate Governance, Political Connections, and Bank Performance," IJFS, MDPI, vol. 7(4), pages 1-37, October.
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    22. Claessens, Stijn & van Horen, Neeltje, 2009. "Being a foreigner among domestic banks: Asset or liability?," MPRA Paper 13467, University Library of Munich, Germany.
    23. Ullah, Nazim & Mat Nor, Fauzias & Abu Seman, Junaidah & Uddin, Akther, 2018. "Do Merger and Acquisition Affects Acquirer Bank’s Performance? A Comparative Analysis of Pre and Post Performance," MPRA Paper 108574, University Library of Munich, Germany, revised 03 Jan 2018.
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    47. Emmanuel C. Mamatzakis & Antonios Kalyvas, 2017. "Do creditor rights and information sharing affect the performance of foreign banks?," Working Papers 232, Bank of Greece.
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    4. Campo Robledo, Jacobo, 2011. "Sostenibilidad fiscal: una aproximación con datos panel para 8 países Latinoaméricanos [Fiscal sustainability: A data panel approach for eight Latin American countries]," MPRA Paper 33091, University Library of Munich, Germany.
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    6. Artana, Daniel & Navajas, Fernando & Catena, Marcelo, 2007. "El Shock de los Precios del Petróleo en América Central: Implicancias Fiscales y Energéticas," IDB Publications (Working Papers) 2170, Inter-American Development Bank.
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    11. Silva, Alexandre Manoel Angelo & Cândido Júnior, José Oswaldo, 2010. "É o mercado míope em relação á política fiscal brasileira?," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 64(4), December.
    12. International Monetary Fund, 2010. "Former Yugoslav Republic of Macedonia: Selected Issues for the 2009 Article IV Consultation," IMF Staff Country Reports 2010/020, International Monetary Fund.
    13. Angela I. Uwakwe, 2008. "Public Debt Management & Fiscal Sustainability in Italy," AIUB Bus Econ Working Paper Series AIUB-BUS-ECON-2008-20, American International University-Bangladesh (AIUB), Office of Research and Publications (ORP), revised Jun 2008.
    14. María Lorena Marí del Cristo & Marta Gómez-Puig, 2013. "“Fiscal sustainability and fiscal shocks in a dollarized and oil-exporting country: Ecuador”," IREA Working Papers 201306, University of Barcelona, Research Institute of Applied Economics, revised Apr 2013.
    15. Cruz-Rodríguez, Alexis, 2014. "Assessing fiscal sustainability in some selected countries," MPRA Paper 54975, University Library of Munich, Germany.
    16. Török László, 2022. "Breakdown of Government Debt into Components in Euro Area Countries," JRFM, MDPI, vol. 15(2), pages 1-13, February.
    17. Simarmata, Djamester A., 2007. "Keberlanjutan Fiskal di Indonesia [Fiscal Sustainability in Indonesia]," MPRA Paper 41344, University Library of Munich, Germany.
    18. Mr. Emanuele Baldacci & Mr. Sanjeev Gupta & Mr. Carlos Mulas-Granados, 2010. "Restoring Debt Sustainability After Crises: Implications for the Fiscal Mix," IMF Working Papers 2010/232, International Monetary Fund.

  78. Micco, Alejandro & Panizza, Ugo & Yañez, Mónica, 2004. "Bank Ownership and Performance," IDB Publications (Working Papers) 1544, Inter-American Development Bank.

    Cited by:

    1. Ari Aisen & Michael Franken, 2009. "Bank Credit and the 2008 Financial Crisis: A cross-country Comparison," Working Papers Central Bank of Chile 532, Central Bank of Chile.
    2. Hella Engerer, 2005. "Bankenlandschaft Europa: Eigentum, Wettbewerb und Integration," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 74(4), pages 12-31.
    3. Drobetz, Wolfgang & Erdmann, Thomas & Zimmermann, Heinz, 2007. "Predictability in the cross-section of European bank stock returns," Working papers 2007/21, Faculty of Business and Economics - University of Basel.
    4. Ms. Corinne C Delechat & Ms. Camila Henao Arbelaez & Ms. Priscilla S Muthoora & Svetlana Vtyurina, 2012. "The Determinants of Banks' Liquidity Buffers in Central America," IMF Working Papers 2012/301, International Monetary Fund.
    5. Ms. Deniz O Igan & Ms. Natalia T. Tamirisa, 2008. "Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe," IMF Working Papers 2008/219, International Monetary Fund.
    6. Claessens, Stijn, 2006. "Competitive implications of cross-border banking," Policy Research Working Paper Series 3854, The World Bank.
    7. Us, Vuslat, 2017. "Dynamics of non-performing loans in the Turkish banking sector by an ownership breakdown: The impact of the global crisis," Finance Research Letters, Elsevier, vol. 20(C), pages 109-117.
    8. Giuliano Iannotta & Giacomo Nocera & Andrea Sironi, 2007. "Ownership structure, risk and performance in the European banking industry," Post-Print hal-00861806, HAL.
    9. Michal Jurek, 2014. "Role and impact of different types of financial institutions on economic performance and stability of the real sector in selected EU member states," Working papers wpaper36, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    10. Kotey, Richard Angelous & Kusi, Baah & Akomatey, Richard, 2019. "Ownership structure and profitability of listed firms in an emerging market," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Online Fi, pages 1-16.
    11. Mrs. Poonam Gupta & Mr. Thierry Tressel & Ms. Enrica Detragiache, 2005. "Finance in Lower Income Countries: An Empirical Exploration," IMF Working Papers 2005/167, International Monetary Fund.
    12. S. M. Khaled Hossain & Niluthpaul Sarker, 2025. "Do the Risk-averse Firms Confirm Enhanced Firm Value? Exploring the Managerial Ownership’s Moderating Effect," Jindal Journal of Business Research, , vol. 14(1), pages 73-93, June.
    13. Burcu Aydin, 2008. "Banking Structure and Credit Growth in Central and Eastern European Countries," IMF Working Papers 2008/215, International Monetary Fund.
    14. Wu, Ji & Jeon, Bang Nam & Luca, Alina, 2009. "Foreign bank penetration, resource allocation and economic growth: evidence from emerging economies," MPRA Paper 34946, University Library of Munich, Germany.
    15. Mr. Christian H Ebeke & Mr. Boileau Loko & Arina Viseth, 2014. "Credit Quality in Developing Economies: Remittances to the Rescue?," IMF Working Papers 2014/144, International Monetary Fund.
    16. Sufian, Fadzlan, 2011. "Banks total factor productivity change in a developing economy: Does ownership and origins matter?," Journal of Asian Economics, Elsevier, vol. 22(1), pages 84-98, February.
    17. Pablo de Andrés & Eleuterio Vallelado, 2006. "Corporate Governance in Banking: The Role of the Board of Directors," Working Papers 0604, Departament Empresa, Universitat Autònoma de Barcelona, revised Jun 2006.
    18. Ozsoz, Emre, 2011. "What determines return risks for bank equities in Turkey?," MPRA Paper 35291, University Library of Munich, Germany.
    19. Chiaruttini, Maria Stella, 2020. "Banking integration and (under)development: A quantitative reassessment of the Italian financial divide (1814-74)," IBF Paper Series 03-20, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
    20. Ari Aisen & Michael Franken, 2015. "Bank credit during the 2008 financial crisis: a cross-country comparison," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 18(1), pages 26-49, April.
    21. Stefanelli, Valeria & Matteo, Cotugno, 2010. "An Empirical Analysis on Board Monitoring Role and Loan Portfolio Quality Measurement in Banks," MPRA Paper 29766, University Library of Munich, Germany.
    22. Ms. Enrica Detragiache & Mr. Thierry Tressel & Asli Demirgüç-Kunt, 2006. "Banking on the Principles: Compliance with Basel Core Principles and Bank Soundness," IMF Working Papers 2006/242, International Monetary Fund.
    23. Aghion, Philippe & Fally, Thibault & Scarpetta, Stefano, 2007. "Credit Constraints as a Barrier to the Entry and Post-Entry Growth of Firms," IZA Discussion Papers 3237, IZA Network @ LISER.
    24. Barry Eichengreen & Pipat Luengnaruemitchai, 2006. "Bond Markets as Conduits for Capital Flows: How Does Asia Compare?," NBER Working Papers 12408, National Bureau of Economic Research, Inc.
    25. Swati R. Ghosh, 2006. "East Asian Finance : The Road to Robust Markets," World Bank Publications - Books, The World Bank Group, number 7063.
    26. Alejandro Micco & Ugo Panizza, 2004. "Propiedad de la banca y conducta crediticia," Research Department Publications 4386, Inter-American Development Bank, Research Department.
    27. Triki, Thouraya & Kouki, Imen & Dhaou, Mouna Ben & Calice, Pietro, 2017. "Bank regulation and efficiency: What works for Africa?," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 183-205.
    28. Matthey, Astrid, 2008. "Do public banks have a competitive advantage?," SFB 649 Discussion Papers 2008-010, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    29. Nelson Souza-Sobrinho, 2010. "Macroeconomics of bank interest spreads: evidence from Brazil," Annals of Finance, Springer, vol. 6(1), pages 1-32, January.
    30. Micco, Alejandro & Panizza, Ugo, 2006. "Bank Ownership and Lending Behavior," POLIS Working Papers 61, Institute of Public Policy and Public Choice - POLIS.
    31. Sabbah Gueddoudj, 2013. "Fluctuations Economiques et Dynamiques de la Constitution de Provisions Pour Créances Douteuses des Banques Luxembourgeoises," BCL working papers 81, Central Bank of Luxembourg.
    32. Ms. Deniz O Igan & Marcelo Pinheiro, 2011. "Credit Growth and Bank Soundness: Fast and Furious?," IMF Working Papers 2011/278, International Monetary Fund.
    33. Driton Balaj, 2010. "The Impact of Foreign Banks Presence on the Performance of Domestic Banks in Kosovo during the Period 2001-2007," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 4(4), pages 87-103, December.
    34. Kaliyev Kalizhan Sagatbekovich & Mira Nurmakhanova, 2021. "Bank Regulation in the Economies in Transition," SAGE Open, , vol. 11(4), pages 21582440211, November.
    35. Francisco, Manuela & Mascaro, Yira & Mendoza, Juan Carlos & Yaron, Jacob, 2008. "Measuring the performance and achievement of social objectives of development finance institutions," Policy Research Working Paper Series 4506, The World Bank.

  79. Ugo Panizza & Ana Maria Loboguerrero, 2004. "Inflation and Labor Market Flexibility: The Squeaky Wheel Gets the Grease," Econometric Society 2004 Latin American Meetings 3, Econometric Society.

    Cited by:

    1. Marchese, Carla, 2006. "Rewarding the consumer for curbing the evasion of commodity taxes?," POLIS Working Papers 72, Institute of Public Policy and Public Choice - POLIS.
    2. Falguni Pattanaik & Narayan Chandra Nayak, 2013. "Employment Intensity Of Secondary Sector In India: Trends, Patterns And Determinants," Journal of Regional Development and Planning, Rajarshi Majumder, vol. 2(2), pages 157-174.
    3. Ramello, Giovanni B. & Silva, Francesco, 2006. "Appropriating signs and meaning: The elusive economics of trademark," POLIS Working Papers 70, Institute of Public Policy and Public Choice - POLIS.
    4. Ottone, Stefania, 2007. "Are people samaritans or avengers?," POLIS Working Papers 77, Institute of Public Policy and Public Choice - POLIS.
    5. Falguni Pattanaik & Narayan Chandra Nayak, 2014. "Macroeconomic Determinants of Employment Intensity of Growth in India," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 8(2), pages 137-154, May.
    6. World Bank, 2006. "Fostering Higher Growth and Employment in the Kingdom of Morocco," World Bank Publications - Books, The World Bank Group, number 7114.
    7. Ricardo J Caballero & Kevin N Cowan & Eduardo M.R.A. Engel & Alejandro Micco, 2007. "Effective Labor Regulation and Microeconomic Flexibility," Levine's Bibliography 321307000000000990, UCLA Department of Economics.
    8. Cugno, Franco & Ottoz, Elisabetta, 2006. "Static inefficiency of compulsory licensing: Quantity vs. price competition," POLIS Working Papers 73, Institute of Public Policy and Public Choice - POLIS.
    9. Breton, Albert & Scott, Anthony & Fraschini, Angela, 2007. "Explaining differences in environmental governance patterns between Canada, Italy and the United States," POLIS Working Papers 87, Institute of Public Policy and Public Choice - POLIS.
    10. Ortona, Guido & Ottone, Stefania & Ponzano, Ferruccio & Scacciati, Francesco, 2006. "Labour supply in presence of taxation financing public services. An experimental approach," POLIS Working Papers 71, Institute of Public Policy and Public Choice - POLIS.
    11. Ramello, Giovanni, 2006. "What's in a sign? Trademark law and enconomic theory," POLIS Working Papers 67, Institute of Public Policy and Public Choice - POLIS.
    12. Bissey, Marie-Edith & Ortona, Guido, 2007. "The program for the simulation of electoral systems ALEX4.1: what it does and how to use it," POLIS Working Papers 82, Institute of Public Policy and Public Choice - POLIS.
    13. Falguni Pattanaik & Narayan Nayak, 2014. "Economic freedom and economic growth in India: What is the empirical relationship?," Economic Change and Restructuring, Springer, vol. 47(4), pages 275-298, November.
    14. Pablo Egaña & Alejandro Micco, 2011. "Labor Market in Latin America and the Caribbean: The Missing Reform," Working Papers wp345, University of Chile, Department of Economics.
    15. Bia, Michela, 2007. "The Propensity Score method in public policy evaluation: a survey," POLIS Working Papers 79, Institute of Public Policy and Public Choice - POLIS.
    16. Ottone, Stefania & Ponzano, Ferruccio & Ricciuti, Roberto, 2007. "Simulating voting rule reforms for the Italian parliament. An economic perspective," POLIS Working Papers 88, Institute of Public Policy and Public Choice - POLIS.
    17. Marchese, Carla & Privileggi, Fabio, 2007. "Increasing the efficiency of the 'Studi di Settore' might backfire," POLIS Working Papers 83, Institute of Public Policy and Public Choice - POLIS.
    18. Nicita, Antonio & Ramello, Giovanni B., 2006. "Property, liability and market power: The antitrust side of copyright," POLIS Working Papers 75, Institute of Public Policy and Public Choice - POLIS.
    19. Neifar, Malika, 2020. "Employment-output elasticities determinants: case of cross-section from AMEE," MPRA Paper 98961, University Library of Munich, Germany.
    20. Bia, Michela & Mattei, Alessandra, 2007. "Application of the Generalized Propensity Score. Evaluation of public contributions to Piedmont enterprises," POLIS Working Papers 80, Institute of Public Policy and Public Choice - POLIS.

  80. Levy Yeyati, Eduardo & Micco, Alejandro & Panizza, Ugo, 2004. "Should the Government Be in the Banking Business?: The Role of State-Owned and Development Banks," IDB Publications (Working Papers) 1543, Inter-American Development Bank.

    Cited by:

    1. Marco FRIGERIO & Daniela VANDONE, 2018. "Virtuous or Vicious? Development Banks in Europe," Departmental Working Papers 2018-07, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    2. Marco Bonomo & Ricardo Brito & Bruno Martins, 2014. "Macroeconomic and Financial Consequences of the After Crisis Government-Driven Credit Expansion in Brazil," Working Papers Series 378, Central Bank of Brazil, Research Department.
    3. Alejandro Micco & Ugo Panizza & Mónica Yañez, 2004. "Bank Ownership and Performance," Research Department Publications 4381, Inter-American Development Bank, Research Department.
    4. Petrović Jadranka, 2018. "The Effects of State Development Banks on the Performance of Small and Medium Enterprises," Economic Themes, Paradigm, vol. 56(3), pages 389-411, September.
    5. Coelho, Daphne & Teodorovicz, Thomaz & Martínez Fritscher, André & Motta Café, Renata & Lazzarini, Sergio & Ikawa, Jorge Norio Rezende, 2024. "Monitoring the Governance of State-Owned Enterprises: Assessing the Impact of Brazilian Corporate Governance Reforms," IDB Publications (Working Papers) 13568, Inter-American Development Bank.
    6. Waidelich, Paul & Steffen, Bjarne, 2024. "Renewable energy financing by state investment banks: Evidence from OECD countries," Energy Economics, Elsevier, vol. 132(C).
    7. Pietro Calice, 2013. "Working Paper 174 - African Development Finance Institutions: Unlocking the Potential," Working Paper Series 470, African Development Bank.
    8. José Antonio Ocampo & Paola Arias & Juan David Torres, 2018. "La banca nacional de desarrollo en Colombia," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, issue 88, pages 1-36.
    9. Josh Ryan-Collins, 2021. "Breaking the housing–finance cycle: Macroeconomic policy reforms for more affordable homes," Environment and Planning A, , vol. 53(3), pages 480-502, May.
    10. Sergio Gusmão Suchodolski & Adauto Modesto Junior & Cinthia Helena De Oliveira Bechelaine & Leila Maria Bedeschi Costa, 2020. "Du global au local : Les banques infranationales de développement à l'ère des Objectifs de développement durable," Working Paper f90065ff-3b45-4772-ac15-a, Agence française de développement.
    11. Sahil Chopra, 2022. "Are Public Sector Banks in India a Government Failure? -A Comparative Empirical Analysis of Public Sector and Private Sector Banks in India," Working Papers REM 2022/0240, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    12. Konstantinos I. Loizos, 2017. "Alternative Financial Regimes and Development Banks in Greece 1963-2002: What Have We Learned?," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 34-50, March.
    13. Alejandro Micco & Ugo Panizza & Monica Yañez, 2005. "Bank Ownership and Performance Does Politics Matter?," Working Papers Central Bank of Chile 356, Central Bank of Chile.
    14. Bahtiar Usman & Syofriza Syofyan & Lucky Nugroho & Soeharjoto, 2018. "Foreign Bank Penetration And Its Impact On Banking Industries," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 6(1), pages 64-83.
    15. Hermann, Jennifer, 2010. "Development banks in the financial-liberalization era: the case of BNDES in Brazil," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    16. Anna Bakaykina, 2015. "The estimation of the competitiveness of SME financing programs of development banks in Russia," Applied Econometrics, Russian Academy of National Economy and Public Administration (RANEPA), vol. 40(4), pages 106-128.
    17. Eva Terberger, 2005. "Die Struktur des Finanzsystems und der Finanzierungszugang für kleine Unternehmen," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 74(4), pages 75-91.
    18. Sahil Chopra, 2022. "Are Public Sector Banks in India a Government Failure? A Comparative Empirical Analysis of Public Sector and Private Sector Banks [Les banques du secteur public en Inde sont-elles un échec pour le gouvernement ? Une analyse empirique comparative d," Post-Print hal-04006720, HAL.
    19. Udayshankar Sarkar, 2015. "A Comparative Profitability and Operating Efficiency Analysis of Public and Private Banks in Bangladesh," Quarterly Journal of Business Studies, Research Academy of Social Sciences, vol. 1(1), pages 17-23.
    20. Lazzarini, Sergio G. & Musacchio, Aldo & Bandeira-de-Mello, Rodrigo & Marcon, Rosilene, 2015. "What Do State-Owned Development Banks Do? Evidence from BNDES, 2002–09," World Development, Elsevier, vol. 66(C), pages 237-253.
    21. Detragiache, Enrica & Repetto, Andrea, 2007. "Comments," LSE Research Online Documents on Economics 123190, London School of Economics and Political Science, LSE Library.
    22. Gomes, Matheus da Costa & Valle, Mauricio Ribeiro do, 2023. "Do companies that benefit from development banks' funding invest more? New evidence from Brazil," Economic Modelling, Elsevier, vol. 127(C).
    23. de Menezes Barboza, Ricardo & Vasconcelos, Gabriel F.R., 2019. "Measuring the aggregate effects of the Brazilian Development Bank on investment," The North American Journal of Economics and Finance, Elsevier, vol. 47(C), pages 223-236.
    24. Barros, Alexandre Rands, 2008. "How to make bankers richer: The Brazilian financial market with public and private banks," The Quarterly Review of Economics and Finance, Elsevier, vol. 48(2), pages 217-236, May.
    25. Mirzaei, Ali & Pasiouras, Fotios & Samet, Anis, 2021. "State ownership, macroprudential policies, and bank lending," Journal of International Money and Finance, Elsevier, vol. 117(C).
    26. Alejandro Micco & Ugo Panizza, 2006. "Bank Ownership and Lending Behavior," Working Papers Central Bank of Chile 369, Central Bank of Chile.
    27. Sergio G. Lazzarini & Aldo Musacchio, 2010. "Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003," Business and Economics Working Papers 095, Unidade de Negocios e Economia, Insper.
    28. Mariana Mazzucato & Caetano C.R. Penna, 2014. "Beyond Market Failures: The Market Creating and Shaping Roles of State Investment Banks," Working Papers Series 7, Institute for New Economic Thinking.
    29. Bonomo, Marco & Brito, Ricardo D. & Martins, Bruno, 2015. "The after crisis government-driven credit expansion in Brazil: A firm level analysis," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 111-134.
    30. Vicente Cuñat, 2009. "Finance for Development: Latin America in a Comparative Perspective. By BARBARA STALLINGS with ROGERIO STUDART," Economica, London School of Economics and Political Science, vol. 76(301), pages 216-217, February.
    31. Clò, Stefano & Frigerio, Marco & Vandone, Daniela, 2022. "Financial support to innovation: The role of European development financial institutions," Research Policy, Elsevier, vol. 51(10).
    32. Marco Bonomo & Bruno Martins, 2016. "The Impact of Government-Driven Loans in the Monetary Transmission Mechanism: what can we learn from firm-level data?," Working Papers Series 419, Central Bank of Brazil, Research Department.
    33. Panizza, Ugo & Micco, Alejandro & Yañez, Mónica, 2006. "Propiedad y Desempeño de la Banca: ¿Importa la Política?," IDB Publications (Working Papers) 2168, Inter-American Development Bank.
    34. Christiano A. Coelho & João Manoel Pinho de Mello & Leonardo Rezende, 2007. "Are Public Banks pro-Competitive? Evidence from Concentrated Local Markets in Brazil," Textos para discussão 551, Department of Economics PUC-Rio (Brazil), revised Sep 2007.
    35. Simone Miyuki Hirakawa & Rodrigo De Losso da Silveira Bueno, 2011. "Does location matter toexplain loan interest rates? Evidence from Brazilian local bankingmarkets," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 127, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    36. Alexandre Rands Barros, 2005. "The Impact Of State Owned Banks On Interest Rates Spread," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33rd Brazilian Economics Meeting] 041, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    37. Mr. Jesus R Gonzalez-Garcia & Mr. Francesco Grigoli, 2013. "State-Owned Banks and Fiscal Discipline," IMF Working Papers 2013/206, International Monetary Fund.
    38. Frey, Leo & Volz, Ulrich, 2011. "Regional Financial Integration in Sub-Saharan Africa - An Empirical Examination of its Effects on Financial Market Development," Proceedings of the German Development Economics Conference, Berlin 2011 29, Verein für Socialpolitik, Research Committee Development Economics.
    39. Lazzarini,Sergio G., 2022. "The Right Privatization," Cambridge Books, Cambridge University Press, number 9781316519714, June.
    40. Alejandro Micco & Ugo Panizza, 2004. "Propiedad de la banca y conducta crediticia," Research Department Publications 4386, Inter-American Development Bank, Research Department.
    41. Alessandro Maffioli & Joao A. Negri & Cesar M. Rodriguez & Gonzalo Vazquez-Bare, 2017. "Themed Issue: Cash Transfers and Microfinance," Development Policy Review, Overseas Development Institute, vol. 35(5), pages 675-702, September.
    42. Nadiia Davydenko & Svitlana Boiko & Olena Cherniavska & Maryna Nehrey, 2023. "Analysis of the Impact of State-Owned Banks on the Sustainability of Public Finances," Economies, MDPI, vol. 11(9), pages 1-23, September.
    43. Sergio G. Lazzarini & Aldo Musacchio, 2011. "Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003," Harvard Business School Working Papers 11-073, Harvard Business School.
    44. V. Dmitriev A. & В. Дмитриев А., 2015. "Роль Финансовых Инстит Утов Развития В Реализации Государственных Антикризисных Программ // Role Of Financial Development Institutions In Government Anti-Crisis Programme Implementation," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, issue 3, pages 6-17.
    45. Alejandro Micco & Ugo Panizza & Mónica Yañez, 2004. "Propiedad y desempeño de la banca," Research Department Publications 4382, Inter-American Development Bank, Research Department.
    46. Christiano A. Coelho & João M.P. De Mello & Leonardo Rezende, 2013. "Do Public Banks Compete with Private Banks? Evidence from Concentrated Local Markets in Brazil," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(8), pages 1581-1615, December.
    47. Lazzarini, Sergio G. & Musacchio, Aldo, 2010. "Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003," Insper Working Papers wpe_221, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    48. Ms. Enrica Detragiache & Mrs. Poonam Gupta & Mr. Thierry Tressel, 2006. "Foreign Banks in Poor Countries: Theory and Evidence," IMF Working Papers 2006/018, International Monetary Fund.
    49. Frigerio, Marco & Vandone, Daniela, 2020. "European development banks and the political cycle," European Journal of Political Economy, Elsevier, vol. 62(C).
    50. World Bank, 2020. "South Asia Economic Focus, Spring 2020," World Bank Publications - Reports 33478, The World Bank Group.
    51. Francisco, Manuela & Mascaro, Yira & Mendoza, Juan Carlos & Yaron, Jacob, 2008. "Measuring the performance and achievement of social objectives of development finance institutions," Policy Research Working Paper Series 4506, The World Bank.
    52. Marco Pedrotti, 2014. "A Model for the Interest Margin of a Risk-Neutral Bank. The Role of the Bank Orientation," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 3(1), pages 167-180, June.
    53. Marco Carreras, 2023. "Fostering Innovation Activities with the Support of a Development Bank: Evidence from Brazil 2003–2011," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 35(3), pages 545-578, June.
    54. Wesen Legessa Tekatel & Beyene Yosef Nurebo, 2019. "Comparing Financial Performance of State Owned Commercial Bank with Privately Owned Commercial Banks in Ethiopia," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 5(2), pages 200-217.
    55. Dumitriu, Ramona & Stefanescu, Razvan & Nistor, Costel, 2012. "State - owned banks from Romania," MPRA Paper 52768, University Library of Munich, Germany, revised Jan 2013.
    56. Carlos F. K. V. Inoue & Sergio G. Lazzarini & Aldo Musacchio, 2012. "Leviathan as a Minority Shareholder: Firm-Level Implications of Equity Purchases by the State," Business and Economics Working Papers 158, Unidade de Negocios e Economia, Insper.
    57. Srivastava, Nikhil & Mohanty, Praveen Kumar & Kesari, Nidhi, 2025. "Financial inclusion and bank stability: Evidence from the Indian banking system," Economics Letters, Elsevier, vol. 250(C).
    58. Alberto Huidobro, 2014. "Differences between loans granted by commercial and development banks: A cross-sectional analysis of interest rate margins," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 29(2), pages 163-224.

  81. Ricardo Hausmann & Ugo Panizza & Roberto Rigobon, 2004. "The Long-Run Volatility Puzzle of the Real Exchange Rate," NBER Working Papers 10751, National Bureau of Economic Research, Inc.

    Cited by:

    1. N. Antonakakis & J. Darby, 2013. "Forecasting volatility in developing countries' nominal exchange returns," Applied Financial Economics, Taylor & Francis Journals, vol. 23(21), pages 1675-1691, November.
    2. Ganguly, Srideep & Breuer, Janice Boucher, 2010. "Nominal exchange rate volatility, relative price volatility, and the real exchange rate," Journal of International Money and Finance, Elsevier, vol. 29(5), pages 840-856, September.
    3. Li, Dandan & Ghoshray, Atanu & Morley, Bruce, 2012. "Measuring the risk premium in uncovered interest parity using the component GARCH-M model," International Review of Economics & Finance, Elsevier, vol. 24(C), pages 167-176.
    4. van der Ploeg, Frederick & Poelhekke, Steven, 2007. "Volatility, Financial Development and the Natural Resource Curse," CEPR Discussion Papers 6513, Centre for Economic Policy Research.
    5. Ibragimov Marat & Khamidov Rufat, 2010. "Heavy-Tailedness and Volatility in Emerging Foreign Exchange Markets: Theory and Empirics," EERC Working Paper Series 10/06e, EERC Research Network, Russia and CIS.
    6. Al-Abri, Almukhtar, 2013. "Real exchange rate volatility, terms-of-trade shocks, and financial integration in primary-commodity exporting economies," Economics Letters, Elsevier, vol. 120(1), pages 126-129.
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  84. Izquierdo, Alejandro & Micco, Alejandro & Panizza, Ugo & Chong, Alberto E., 2003. "Corporate Governance and Private Capital Flows to Latin America," IDB Publications (Working Papers) 1457, Inter-American Development Bank.

    Cited by:

    1. Carlos Pombo & Luis H Gutierrez & Rodrigo Taborda, 2005. "Ownership and Control in Colombian Corporations," Borradores de Investigación 3311, Universidad del Rosario.
    2. Luis H. Gutiérrez & Carlos Pombo & Rodrigo Taborda, 2005. "Propiedad y control en empresas colombianas," Research Department Publications 3221, Inter-American Development Bank, Research Department.

  85. Eduardo Lora & Ugo Panizza, 2002. "Un escrutinio a las reformas estructurales en América Latina," Research Department Publications 4304, Inter-American Development Bank, Research Department.

    Cited by:

    1. Hernández, Iván & Cely, Nathalie & González, Francisco & Muñoz, Ernesto & Prieto, Iván, 2010. "The Discovery of New Export Products in Ecuador," IDB Publications (Working Papers) 1511, Inter-American Development Bank.

  86. Jessica Seddon Wallack & Alejandro Gaviria Uribe & Ugo Panizza & Ernesto Stein, 2002. "Political particularism around the world," Informes de Investigación 3341, Fedesarrollo.

    Cited by:

    1. Voigt, Stefan, 2006. "The economic effects of direct democracy: A cross-country assessment," Volkswirtschaftliche Diskussionsbeiträge 84, University of Kassel, Faculty of Economics and Management.
    2. Richard G. Niemi & Michael J. Hanmer, 2010. "Voter Turnout Among College Students: New Data and a Rethinking of Traditional Theories," Social Science Quarterly, Southwestern Social Science Association, vol. 91(2), pages 301-323, June.
    3. Eileen Fumagalli and Gaia Narciso, 2008. "Political Institutions, Voter Turnout and Policy Outcomes," The Institute for International Integration Studies Discussion Paper Series iiisdp268, IIIS.
    4. Kåre Vernby, 2007. "Strikes are more common in countries with majoritarian electoral systems," Public Choice, Springer, vol. 132(1), pages 65-84, July.
    5. Scartascini, Carlos & Spiller, Pablo T. & Stein, Ernesto H. & Tommasi, Mariano & Alston, Lee J. & Melo, Marcus André & Mueller, Bernardo & Pereira, Carlos & Aninat, Cristóbal & Londregan, John & Navia, 2011. "El juego político en América Latina: ¿Cómo se deciden las políticas públicas?," IDB Publications (Books), Inter-American Development Bank, number 332.
    6. Brown, David S. & Touchton, Michael & Whitford, Andrew, 2011. "Political Polarization as a Constraint on Corruption: A Cross-national Comparison," World Development, Elsevier, vol. 39(9), pages 1516-1529, September.
    7. Bakker Femke E. & Rotondi Valentina, 2016. "Vote for Your Family! Particularism, Support for Democracy and Support for Shari’a in the Arab World," Review of Middle East Economics and Finance, De Gruyter, vol. 12(2), pages 115-137, August.

  87. Panizza, Ugo & Lora, Eduardo, 2002. "Structural Reforms in Latin America under Scrutiny," IDB Publications (Working Papers) 4370, Inter-American Development Bank.

    Cited by:

    1. Nauro F. Campos & Armando Castellar Pinheiro & Fabio Giambiagi & Maur??cio M. Moreira, 2002. "Does it Take a Lula to go to Davos? A Brief Overview of Brazilian Reforms, 1980-2000," William Davidson Institute Working Papers Series 2003-580, William Davidson Institute at the University of Michigan.
    2. Campos, Nauro F. & Horváth, Roman, 2006. "Reform Redux: Measurement, Determinants and Reversals," IZA Discussion Papers 2093, IZA Network @ LISER.
    3. Jairo Augusto NUNEZ-MENDEZ & N�estor Gonz�alez & Gustavo Hern�ndez, 2007. "¿Es posible alcanzar los objetivos del Milenio en Colombia? Una evaluación de estrategias de focalización y financiamiento," Archivos de Economía 11218, Departamento Nacional de Planeación.
    4. Alvaro Forteza & Daniel Buquet & Mario Ibarburu & Jorge Lanzaro & Andrés Pereyra & Eduardo Siandra & Marcel Vaillant, 2003. "Understanding reform. The Uruguayan case," Documentos de Trabajo (working papers) 0603, Department of Economics - dECON.
    5. A. Gledson de Carvalho & Francisco Anuatti-Neto & Milton Barossi-Filho & Roberto Macedo, 2003. "Costs and Benefits of Privatization: Evidence from Brazil," Research Department Publications 3149, Inter-American Development Bank, Research Department.
    6. Hector J. Villarreal & Ricardo Cantú, "undated". "Do Walmartians Ruled? The political power of an emerging middle class in Mexico," Working Papers 20081, Escuela de Graduados en Administración Pública y Políticas Públicas, Campus Monterrey, revised Jun 2007.
    7. Eslava, Marcela & Haltiwanger, John C. & Kugler, Adriana & Kugler, Maurice, 2005. "Factor Adjustments after Deregulation: Panel Evidence from Colombian Plants," IZA Discussion Papers 1751, IZA Network @ LISER.
    8. John Nellis, 2003. "Privatization in Latin America," Working Papers 31, Center for Global Development.
    9. Birdsall, Nancy & de la Torre, Augusto & Caicedo, Felipe Valencia, 2010. "The Washington consensus : assessing a damaged brand," Policy Research Working Paper Series 5316, The World Bank.
    10. Carmen Pagés-Serra, 1999. "Opening, reform and the labor market: experience of a decade of structural changes in Peru," Research Department Publications 4166, Inter-American Development Bank, Research Department.
    11. Javier Reyes & Stefano Schiavo & Giorgio Fagiolo, 2007. "Using Complex Network Analysis to Assess the Evolution of International Economic Integration: The cases of East Asia and Latin America," Sciences Po Economics Publications (main) hal-00973113, HAL.
    12. World Bank, 2004. "Chile : A Strategy to Promote Innovative Small and Medium Enterprises," World Bank Publications - Reports 14352, The World Bank Group.
    13. Campos, Nauro F. & De Grauwe, Paul & Ji, Yuemei, 2017. "Structural Reforms, Growth and Inequality: An Overview of Theory, Measurement and Evidence," IZA Discussion Papers 11159, IZA Network @ LISER.
    14. Cavallo, Eduardo A. & Fernández-Arias, Eduardo & Powell, Andrew, 2014. "Is the Euro-zone on the Mend? Latin American examples to analyze the Euro question," Journal of Banking & Finance, Elsevier, vol. 47(C), pages 243-257.
    15. Hausmann, Ricardo & Rodrik, Dani, 2003. "Economic development as self-discovery," Journal of Development Economics, Elsevier, vol. 72(2), pages 603-633, December.
    16. Armando Castelar Pinheiro & Regis Bonelli, 2015. "Financial Development, Growth and Equity in Brazil," Discussion Papers 0159, Instituto de Pesquisa Econômica Aplicada - IPEA.
    17. Eduardo Lora & Mauricio Olivera, 1998. "Macro Policy and Employment Problems in Latin America," Research Department Publications 4116, Inter-American Development Bank, Research Department.
    18. Da Silva, Sergio & Nunes, Mauricio, 2007. "Latin American foreign exchange intervention - Updated," MPRA Paper 1982, University Library of Munich, Germany.
    19. Campos, Nauro F. & De Grauwe, Paul & Ji, Yuemei, 2025. "Structural reforms and economic performance: the experience of advanced economies," LSE Research Online Documents on Economics 120870, London School of Economics and Political Science, LSE Library.
    20. Lederman, Daniel & Roubini, Nouriel, 2004. "Comments," LSE Research Online Documents on Economics 123087, London School of Economics and Political Science, LSE Library.
    21. Jamasb, Tooraj & Mota, Raffaella & Newbery, David & Pollitt, Michael, 2005. "Electricity sector reform in developing countries : a survey of empirical evidence on determinants and performance," Policy Research Working Paper Series 3549, The World Bank.
    22. Eduardo Lora, 2001. "Structural Reforms in Latin America: What Has Been Reformed and How to Measure It," Research Department Publications 4293, Inter-American Development Bank, Research Department.
    23. Daniele CHECCHI & Massimo FLORIO & Jorge CARRERA, 2004. "Privatization discontent and its determinants: evidence from Latin America," Departmental Working Papers 2004-23, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    24. Andrews, Matthew R. & McConnell, Jesse & Wescott, Alison, 2010. "Development as Leadership-led Change," Scholarly Articles 4449099, Harvard Kennedy School of Government.
    25. Martimort, David & Straub, Stéphane, 2009. "Infrastructure privatization and changes in corruption patterns: The roots of public discontent," Journal of Development Economics, Elsevier, vol. 90(1), pages 69-84, September.
    26. Huascar Pessali, 2011. "Public Policy Design in Developing Societies," Journal of Developing Societies, , vol. 27(1), pages 11-28, March.
    27. Francisco Rodríguez, 2006. "The Anarchy of Numbers: Understanding the Evidence on Venezuelan Economic Growth," Wesleyan Economics Working Papers 2006-009, Wesleyan University, Department of Economics.
    28. Marc Hofstetter, 2006. "Disinflations In Latin America And The Caribbean: A Free Lunch?," Documentos CEDE 2375, Universidad de los Andes, Facultad de Economía, CEDE.
    29. Mariano Tommasi & Alvaro Forteza & German Herrera, 2005. "Understanding Reform in Latin America," Working Papers 88, Universidad de San Andres, Departamento de Economia, revised Dec 2005.
    30. Campos, Nauro & Kinoshita, Yuko, 2008. "Foreign Direct Investment and Structural Reforms: Evidence from Eastern Europe and Latin America," CEPR Discussion Papers 6690, Centre for Economic Policy Research.
    31. Eduardo Lora, 2001. "Las Reformas estructurales en América Latina: Qué se ha reformado y cómo medirlo," Research Department Publications 4288, Inter-American Development Bank, Research Department.
    32. Eduardo Lora & Mauricio Olivera, 2004. "What makes reforms likely: Political economy determinants of reforms in Latin America," Journal of Applied Economics, Universidad del CEMA, vol. 7, pages 99-135, May.
    33. World Bank, 2004. "Honduras - Development Policy Review : Accelerating Broad-based Growth," World Bank Publications - Reports 14368, The World Bank Group.
    34. Eduardo Lora & Mauricio Olivera, 1998. "Políticas macro y problemas del empleo en América Latina," Research Department Publications 4117, Inter-American Development Bank, Research Department.
    35. Mr. Jeromin Zettelmeyer, 2006. "Growth and Reforms in Latin America: A Survey of Facts and Arguments," IMF Working Papers 2006/210, International Monetary Fund.
    36. Eduardo Lora & Juan Camilo Chaparro, 2008. "La conflictiva relación entre la satisfacción y el ingreso," Research Department Publications 4600, Inter-American Development Bank, Research Department.
    37. Armando Castelar Pinheiro & Regis Bonelli & Ben Ross Schneider, 2004. "Pragmatic Policy in Brazil : the political economy of incomplete market reform," Discussion Papers 1035, Instituto de Pesquisa Econômica Aplicada - IPEA.
    38. Haaparanta, Pertti & Pirttila, Jukka, 2007. "Reforms and confidence," Journal of Development Economics, Elsevier, vol. 84(1), pages 534-550, September.
    39. Foster, Vivien & Guasch, José Luis & Andrés, Luis & Haven, Thomas, 2008. "The Impact of Private Sector Participation in Infrastructure: Lights, Shadows, and the Road Ahead," IDB Publications (Books), Inter-American Development Bank, number 358.
    40. Mario Bergara & Daniel Chasquetti & Juan Andrés Moraes, 2005. "The Political Economy of the Budgetary Process in Uruguay," Documentos de Trabajo (working papers) 1905, Department of Economics - dECON.
    41. Bonnet, Céline & Dubois, Pierre & Martimort, David & Straub, Stéphane, 2009. "Empirical Evidence on Satisfaction with Privatization in Latin America: Welfare Effects and Beliefs," IDEI Working Papers 566, Institut d'Économie Industrielle (IDEI), Toulouse.
    42. Carol Graham & Stefano Pettinato, 2001. "Happiness, Markets, and Democracy: Latin America in Comparative Perspective," Journal of Happiness Studies, Springer, vol. 2(3), pages 237-268, September.
    43. Di Tella, Rafael & Galiani, Sebastian & Schargrodsky, Ernesto, 2012. "Reality versus propaganda in the formation of beliefs about privatization," Journal of Public Economics, Elsevier, vol. 96(5), pages 553-567.
    44. Mamoon, D. & Murshed, S.M., 2007. "The education bias of 'trade liberalization' and wage inequality in developing countries," ISS Working Papers - General Series 18751, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    45. Maria Angelica Arbelaez & Juan Jose Echavarria, 2002. "Credit, Financial Liberalization and Manufacturing Investment in Colombia," Research Department Publications 3145, Inter-American Development Bank, Research Department.
    46. Arturo Galindo & Fabio Schiantarelli & Andrew Weiss, 2005. "Does Financial Liberalization Improve the Allocation of Investment? Micro Evidence from Developing Countries," Boston College Working Papers in Economics 625, Boston College Department of Economics.
    47. Rodríguez-Clare, Andrés, 2005. "Microeconomic Interventions after the Washington Consensus," IDB Publications (Working Papers) 1550, Inter-American Development Bank.
    48. Vicente Cuñat, 2009. "Finance for Development: Latin America in a Comparative Perspective. By BARBARA STALLINGS with ROGERIO STUDART," Economica, London School of Economics and Political Science, vol. 76(301), pages 216-217, February.
    49. World Bank, 2002. "Colombia : Poverty Report, Volume 1. Main Report," World Bank Publications - Reports 15294, The World Bank Group.
    50. Goldberg , Mike & Palladini, Eric, 2008. "Chile : a strategy to promote innovative small and medium enterprises," Policy Research Working Paper Series 4518, The World Bank.
    51. Nunes, Mauricio & Da Silva, Sergio, 2007. "Foreign exchange intervention and central bank independence: The Latin American experience," MPRA Paper 5073, University Library of Munich, Germany.
    52. Sebastian Galiani & Daniel Heymann & Mariano Tommasi, 2002. "Missed Expectations: The Argentine Convertibility," William Davidson Institute Working Papers Series 515, William Davidson Institute at the University of Michigan.
    53. Eduardo Lora, 2000. "What Makes Reforms Likely? Timing and Sequencing of Structural Reforms in Latin America," Research Department Publications 4217, Inter-American Development Bank, Research Department.
    54. Jamasb, T. & Newbery, D. & Pollitt, M., 2004. "'Core Indicators for Determinants and Performance of Electricity Sector in Developing Countries’," Cambridge Working Papers in Economics 0438, Faculty of Economics, University of Cambridge.
    55. Mary Morrison & Marianne Fay, 2005. "Infrastructure in Latin America : Recent Developments and Key Challenges, Volume 1," World Bank Publications - Reports 8801, The World Bank Group.
    56. Molinas, José R. & Pérez-Liñán, Aníbal & Saiegh, Sebastián & Montero, Marcela, 2006. "Political Institutions, Policymaking Processes and Policy Outcomes in Paraguay, 1954-2003," IDB Publications (Working Papers) 3359, Inter-American Development Bank.
    57. Eduardo Lora & Juan Camilo Chaparro, 2008. "The Conflictive Relationship between Satisfaction and Income," Research Department Publications 4599, Inter-American Development Bank, Research Department.
    58. Javier Reyes & Giorgio Fagiolo & Stefano Schiavo, 2008. "Using a complex weighted-network approach to assess the evolution of international economic integration: The cases of East Asia and Latin America," LEM Papers Series 2008/10, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    59. Maurice Kugler, 2006. "Migrant Remittances, Human Capital Formation and Job Creation Externalities in Colombia," Borradores de Economia 370, Banco de la Republica de Colombia.
    60. Thomas M Fullerton Jr & Richard L Sprinkle, 2004. "Latin American Progress under Structural Reform," Development and Comp Systems 0408012, University Library of Munich, Germany.
    61. Sebastian Saiegh & Marcela Montero & Anibal Pérez-Liñán & José Molinas, 2006. "Instituciones políticas, procesos de diseño de políticas y resultados de políticas en Paraguay, 1954-2003," Research Department Publications 3195, Inter-American Development Bank, Research Department.
    62. Armando Castelar & Regis Bonelli o, 2005. "Financial Development, Growth and Equity in Brazil," Discussion Papers 1118, Instituto de Pesquisa Econômica Aplicada - IPEA.
    63. Andrés Mejía Acosta & María Caridad Araujo & Anibal Pérez-Liñán & Sebastian Saiegh, 2006. "Veto Players, Fickle Institutions and Low-Quality Policies: The Policymaking Process in Ecuador," Research Department Publications 3226, Inter-American Development Bank, Research Department.
    64. Felipe Barrera‐Osorio & Mauricio Olivera & Carlos Ospino, 2009. "Does Society Win or Lose as a Result of Privatization? The Case of Water Sector Privatization in Colombia," Economica, London School of Economics and Political Science, vol. 76(304), pages 649-674, October.
    65. Jamasb, Tooraj, 2006. "Between the state and market: Electricity sector reform in developing countries," Utilities Policy, Elsevier, vol. 14(1), pages 14-30, March.
    66. Javier Reyes & Stefano Schiavo & Giorgio Fagiolo, 2008. "Assessing The Evolution Of International Economic Integration Using Random Walk Betweenness Centrality: The Cases Of East Asia And Latin America," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 11(05), pages 685-702.
    67. Andrés Mejía Acosta & María Caridad Araujo & Anibal Pérez-Liñán & Sebastian Saiegh, 2006. "Actores con veto, instituciones caprichosas y políticas de mala calidad: el proceso de diseño de políticas de Ecuador," Research Department Publications 3227, Inter-American Development Bank, Research Department.
    68. Eduardo Lora, 2012. "Las reformas estructurales en América Latina: Qué se ha reformado y cómo medirlo (Versión actualizada)," Research Department Publications 4826, Inter-American Development Bank, Research Department.
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    72. Marcela Eslava & John Haltiwanger & Adriana Kugler & Maurice Kugler, 2004. "The Effect of Structural Reforms on Productivity and Profitability Enhancing Reallocation: Evidence from Colombia," NBER Working Papers 10367, National Bureau of Economic Research, Inc.
    73. Andrés Rodríguez-Clare, 2005. "Intervenciones microeconómicas después del Consenso de Washington," Research Department Publications 4394, Inter-American Development Bank, Research Department.
    74. Carmen Pagés-Serra, 1999. "Apertura, reforma y mercado de trabajo: La experiencia de una década de cambios estructurales en el Perú," Research Department Publications 4167, Inter-American Development Bank, Research Department.
    75. Carlos Guerrero de Lizardi, 2006. "Thirlwall´s law with an emphasis on the ratio of export/import income elasticities in Latin American economies during the Twentieth Century," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 21(1), pages 23-44.
    76. Sebastian Saiegh & Marcela Montero & Anibal Pérez-Liñán & José Molinas, 2006. "Political Institutions, Policymaking Processes and Policy Outcomes in Paraguay, 1954-2003," Research Department Publications 3194, Inter-American Development Bank, Research Department.
    77. Glen Biglaiser & Karl DeRouen, 2011. "How soon is now? The effects of the IMF on economic reforms in Latin America," The Review of International Organizations, Springer, vol. 6(2), pages 189-213, July.
    78. Eduardo Lora, 2000. "¿Que propicia las reformas? La oportunidad y el secuenciamiento de las reformas estructurales en América Latina," Research Department Publications 4218, Inter-American Development Bank, Research Department.
    79. Witold J. Henisz & Bennet A. Zelner & Mauro F. Guillen, 2004. "International Coercion, Emulation and Policy Diffusion: Market-Oriented Infrastructure Reforms, 1977-1999," William Davidson Institute Working Papers Series 2004-713, William Davidson Institute at the University of Michigan.
    80. Jose De Gregorio & Jong-Wha Lee, 2003. "Growth and Adjustment in East Asia and Latin America," Working Papers Central Bank of Chile 245, Central Bank of Chile.
    81. Mauricio Olivera & Felipe Barrera, 2007. "La sociedad gana o pierde como resultado de la privatizacion? El caso de Colombia," Research Department Publications 3231, Inter-American Development Bank, Research Department.
    82. Armando Castelar Pinheiro & Regis Bonelli & Ben Ross Schneider, 2015. "Pragmatic Policy in Brazil: the Political Economy of Incomplete Market Reform," Discussion Papers 0132, Instituto de Pesquisa Econômica Aplicada - IPEA.
    83. Daniel Kaufmann & Massimo Mastruzzi & Diego Zavaleta, 2003. "Sustained Macroeconomic Reforms, Tepid Growth: A Governance Puzzle in Bolivia?," Development and Comp Systems 0308003, University Library of Munich, Germany.
    84. Jaitman, Laura, 2013. "The causal effect of compulsory voting laws on turnout: Does skill matter?," Journal of Economic Behavior & Organization, Elsevier, vol. 92(C), pages 79-93.
    85. Eduardo Lora, 2001. "Reformas estructurales en América Latina: qué se ha reformado y cómo cuantificarlo," Research Department Publications 4294, Inter-American Development Bank, Research Department.
    86. Eugene Beauliue & Ravi Yatawara & Wei Guo Wang, 2005. "Who supports Free Trade in Latin America?," International Trade 0506002, University Library of Munich, Germany.
    87. Agustin Carstens & Luis I. Jacome H., 2005. "Latin American Central Bank Reform: Progress and Challenges," Macroeconomics 0509022, University Library of Munich, Germany.
    88. Mariano Tommasi, 2005. "The Institutional Foundations of Public Policy," Working Papers 90, Universidad de San Andres, Departamento de Economia, revised Dec 2005.

  88. Panizza, Ugo, 2001. "Public sector wages and bureaucratic quality: evidence from Latin America," LSE Research Online Documents on Economics 123298, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Glomm Gerhard & Jung Juergen & Lee Changmin & Tran Chung, 2010. "Public Sector Pension Policies and Capital Accumulation in an Emerging Economy: The Case of Brazil," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-40, June.
    2. Ballestero, Andrea, 2021. "Wage gap between public and private sector analysis in Costa Rica: evidence found based on household surveys from 2006 to 2016," Revista de Ciencias Económicas, Instituto de Investigaciones en Ciencias Económicas, Universidad de Costa Rica, vol. 39(1), December.
    3. World Bank, 2007. "Mongolia : Building the Skills for the New Economy," World Bank Publications - Reports 7746, The World Bank Group.
    4. Ratbek Dzhumashev, 2014. "The Two-Way Relationship Between Government Spending And Corruption And Its Effects On Economic Growth," Contemporary Economic Policy, Western Economic Association International, vol. 32(2), pages 403-419, April.
    5. Ping Li & Yanda Hang, 2026. "The Public Sector Premium in Returns to Education and the Allocation of Human Capital in China," SAGE Open, , vol. 16(1), pages 21582440261, February.
    6. Dzhumashev, Ratbek, 2014. "Corruption and growth: The role of governance, public spending, and economic development," Economic Modelling, Elsevier, vol. 37(C), pages 202-215.
    7. Mizala, Alejandra & Romaguera, Pilar & Gallegos, Sebastián, 2011. "Public–private wage gap in Latin America (1992–2007): A matching approach," Labour Economics, Elsevier, vol. 18(S1), pages 115-131.
    8. Gerhard Glomm & Juergen Jung & Changmin Lee & Chung Tran, 2009. "Public Sector Pension Policies and Capital Accumulation in Emerging Economies," Discussion Papers 2009-10, School of Economics, The University of New South Wales.
    9. Ricardo Hausmann & Ljubica Nedelkoska & Sehar Noor, 2020. "You Get What You Pay For: Sources and Consequences of the Public Sector Premium in Albania and Sri Lanka," Growth Lab Working Papers 153, Harvard's Growth Lab.
    10. Sarullo, Nicolas & Gorodnichenko, Yuriy & Deryugina, Tatyana & Hodson, James & Sologoub, Ilona & Fedyk, Anastassia, 2026. "Measuring corruption from household income and consumption micro-data: An international perspective," Economic Modelling, Elsevier, vol. 160(C).
    11. Macchiavello, Rocco, 2006. "Public Sector Motivation and Development Failures," CEPR Discussion Papers 5906, Centre for Economic Policy Research.
    12. Demirgüç-Kunt, Asli & Lokshin, Michael & Kolchin, Vladimir, 2023. "Effects of public sector wages on corruption: Wage inequality matters," Journal of Comparative Economics, Elsevier, vol. 51(3), pages 941-959.
    13. Naeem Akram, 2022. "Public-Private Wage Differentials: Evidence from Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 27(2), pages 39-64, July-Dec.
    14. Frenkel, Roberto & Ros, Jaime, 2004. "Unemployment, macroeconomic policy and labor market flexibility: Argentina and Mexico in the 1990s," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 31908, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    15. Erendira Leon Bravo, . "Three essays on education, wages, and the labour market in Mexico," Economics PhD Theses, Department of Economics, University of Sussex Business School, number 0322, December.
    16. Quintero, Luis E. & Roberts, Mark, 2023. "Cities and productivity: Evidence from 16 Latin American and Caribbean countries," Journal of Urban Economics, Elsevier, vol. 136(C).
    17. Arzu Yavuz, 2011. "Productivity and Wage Differentials between Private and Public Sector in the Developing Countries (Gelismekte Olan �lkelerde �zel ve Kamu Sekt�r�ndeki Verimlilik ve �cret Farklilasmasi)," Working Papers 1103, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    18. Coppola, Andrea & Calvo-Gonzalez, Oscar, 2011. "Higher wages, lower pay : public vs. private sector compensation in Peru," Policy Research Working Paper Series 5858, The World Bank.
    19. Panizza, Ugo & Qiang, Christine Zhen-Wei, 2005. "Public-private wage differential and gender gap in Latin America: Spoiled bureaucrats and exploited women?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 34(6), pages 810-833, December.
    20. Azhar Iqbal Malik & Naeem Akram, 2024. "Determinants of the gender wage gap in Pakistan," SN Business & Economics, Springer, vol. 4(2), pages 1-13, February.
    21. Alejandra Mizala & Pilar Romaguera & Sebastian Gallegos, 2010. "Public-Private Wage Gap In Latin America (1999-2007): A Matching Approach," Documentos de Trabajo 268, Centro de Economía Aplicada, Universidad de Chile.
    22. Van-Ha Le & Jakob de Haan & Erik Dietzenbacher, 2013. "Do Higher Government Wages Reduce Corruption? Evidence Based on a Novel Dataset," CESifo Working Paper Series 4254, CESifo.
    23. World Bank, 2004. "Uruguay : Poverty Update 2003," World Bank Publications - Reports 15682, The World Bank Group.
    24. Glomm, Gerhard & Jung, Juergen & Tran, Chung, 2009. "Macroeconomic implications of early retirement in the public sector: The case of Brazil," Journal of Economic Dynamics and Control, Elsevier, vol. 33(4), pages 777-797, April.
    25. Gans-Morse, Jordan & Borges, Mariana & Makarin, Alexey & Mannah-Blankson, Theresa & Nickow, Andre & Zhang, Dong, 2018. "Reducing bureaucratic corruption: Interdisciplinary perspectives on what works," World Development, Elsevier, vol. 105(C), pages 171-188.
    26. João Silva Moura Neto & Nelson Marconi & Paulo Eduardo Moledo Palombo & Paulo Roberto Arvate, 2006. "Vertical Transfers And The Appropriation Of Resources By The Bureaucracy: The Case Of Brazilian State Governments," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 136, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    27. Rhea Molato, 2015. "Public-Private Wage Differentials and the Quality of Government Workers in the Philippines," Working Papers tax-mpg-rps-2015-06, Max Planck Institute for Tax Law and Public Finance.
    28. Łukasz Piętak, 2022. "Regional disparities, transmission channels and country's economic growth," Journal of Regional Science, Wiley Blackwell, vol. 62(1), pages 270-306, January.

  89. Hausmann, Ricardo & Panizza, Ugo & Stein, Ernesto H., 2000. "Why Do Countries Float the Way They Float?," IDB Publications (Working Papers) 1321, Inter-American Development Bank.

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    1. Mr. Thomas Philippon & Mr. Jeromin Zettelmeyer & Mr. Eduardo Borensztein, 2001. "Monetary Independence in Emerging Markets: Does the Exchange Rate Regime Make a Difference?," IMF Working Papers 2001/001, International Monetary Fund.
    2. Eduardo Fernández-Arias & Ricardo Hausmann, 2000. "Is FDI a Safer Form of Financing?," Research Department Publications 4201, Inter-American Development Bank, Research Department.
    3. Philip R. Lane, 2003. "Business Cycles and Macroeconomic Policy in Emerging Market Economies," Trinity Economics Papers 20032, Trinity College Dublin, Department of Economics.
    4. von Hagen, Jurgen & Zhou, Jizhong, 2008. "Fear of Floating and Pegging: A Simultaneous Choice Model of De Jure and De Facto Exchange Rate Regimes," CEPR Discussion Papers 7006, Centre for Economic Policy Research.
    5. Jeffrey A. Frankel, 2003. "Experience of and Lessons from Exchange Rate Regime in Emerging Economies," NBER Working Papers 10032, National Bureau of Economic Research, Inc.
    6. Calvo, Guillermo A. & Fernández-Arias, Eduardo & Talvi, Ernesto & Reinhart, Carmen M., 2001. "Growth and External Financing in Latin America," IDB Publications (Working Papers) 1422, Inter-American Development Bank.
    7. Georgiadis, Georgios & Zhu, Feng, 2021. "Foreign-currency exposures and the financial channel of exchange rates: Eroding monetary policy autonomy in small open economies?," Journal of International Money and Finance, Elsevier, vol. 110(C).
    8. Brei, Michael & Buzaushina, Almira, 2015. "International financial shocks in emerging markets," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 51-74.
    9. Georgiadis, Georgios & Zhu, Feng, 2019. "Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates," Working Paper Series 2267, European Central Bank.
    10. Reinhart, Carmen & Calvo, Guillermo, 2002. "Fear of floating," MPRA Paper 14000, University Library of Munich, Germany.
    11. Alpaslan, Baris & Demirel, Baki, 2014. "Exchange Rate Pass-Through Effect on Prices and Inflation Targeting: A Comparison of Emerging Market Economies," MPRA Paper 53726, University Library of Munich, Germany.
    12. Herwartz Helmut & Roestel Jan, 2009. "Monetary Independence under Floating Exchange Rates: Evidence Based on International Breakeven Inflation Rates," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 13(4), pages 1-25, September.
    13. Héctor Bravo L. & Carlos García T., 2002. "Measuring Monetary Policy and Pass-Through in Chile," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 5(3), pages 5-28, December.
    14. Méon, Pierre-Guillaume & Minne, Geoffrey, 2014. "Mark my words: Information and the fear of declaring an exchange rate regime," Journal of Development Economics, Elsevier, vol. 107(C), pages 244-261.
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    16. Abdul RASHID, 2009. "Testing The Modified-Combined Ppp And Uip Hypothesis In South Asian Economies," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 9(1).
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    33. Max Breitenlechner & Georgios Georgiadis & Ben Schumann, 2021. "What goes around comes around: How large are spillbacks from US monetary policy?," GRU Working Paper Series GRU_2021_003, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
    34. Miller, Shirley, 2003. "Estimación del pass-through del tipo de cambio a precios: 1995-2002," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 10.
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    37. G.M. Wessels, 2004. "The Suitability Of Dollarisation As An Exchange Rate Regime For South Africa1," South African Journal of Economics, Economic Society of South Africa, vol. 72(2), pages 324-348, June.
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    42. Bofinger, Peter & Mayer, Eric & Wollmershäuser, Timo & Hülsewig, Oliver, 2003. "The BMW model: A new framework for teaching monetary macroeconomics in closed and open economies," W.E.P. - Würzburg Economic Papers 34, University of Würzburg, Department of Economics.
    43. Jean-Pierre Allegret & Mohamed Ayadi & Leila Haouaoui Khouni, 2006. "Un modèle de choix de régime de change : Aspects théoriques et analyse empirique," Post-Print halshs-00134326, HAL.
    44. Cavoli, Tony, 2009. "Is fear of floating justified?: The East Asia experience," Journal of Policy Modeling, Elsevier, vol. 31(1), pages 1-16.
    45. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2003. "Le péché originel : le calvaire, le mystère et le chemin de la rédemption," L'Actualité Economique, Société Canadienne de Science Economique, vol. 79(4), pages 419-455.
    46. Ricardo Caballero & Kevin Cowan & Jonathan Kearns, 2004. "Fear of Sudden Stops: Lessons from Australia and Chile," NBER Working Papers 10519, National Bureau of Economic Research, Inc.
    47. Jose De Gregorio & Andrea Tokman R., 2004. "Overcoming Fear of Floating: Exchange Rate Policies in Chile," Working Papers Central Bank of Chile 302, Central Bank of Chile.
    48. Alena Kimakova, 2006. "Does globalization enhance the role of fiscal policy in economic stabilization?," Economics Bulletin, AccessEcon, vol. 8(11), pages 1-11.
    49. Hory, Marie-Pierre & Levieuge, Grégory & Onori, Daria, 2023. "The fiscal multiplier when debt is denominated in foreign currency," International Economics, Elsevier, vol. 176(C).
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    51. Yeonjeong Lee & Seong-Min Yoon, 2020. "Relationship between International Reserves and FX Rate Movements," Sustainability, MDPI, vol. 12(17), pages 1-24, August.
    52. Alicia Garcia Herrero & Juan Carlos Berganza & Roberto Chang, 2004. "Balance Sheet Effects And The Country Risk Premium: An Empirical Investigation," International Finance 0403005, University Library of Munich, Germany.
    53. Hull, Peter & Imai, Masami, 2013. "Economic shocks and civil conflict: Evidence from foreign interest rate movements," Journal of Development Economics, Elsevier, vol. 103(C), pages 77-89.
    54. Schnabl, Gunther, 2003. "De jure versus de facto: Exchange rate stabilization in Central and Eastern Europe," Tübinger Diskussionsbeiträge 269, University of Tübingen, School of Business and Economics.
    55. Mr. Andrea Bubula & Ms. Inci Ötker, 2002. "The Evolution of Exchange Rate Regimes Since 1990: Evidence From De Facto Policies," IMF Working Papers 2002/155, International Monetary Fund.
    56. Livia Chitu, 2013. "Was Unofficial Dollarisation/Euroisation an Amplifier of the ‘Great Recession’ of 2007–2009 in Emerging Economies?," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 55(2), pages 233-265, June.
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    58. Cesar Rodrigues van der Laan & André Moreira Cunha, 2008. "Investigating the rationale for exchange market interventions and the building of international reserves in emerging countries: the case of Brazil after stabilization 1995-2008," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807171450510, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    59. Towbin, Pascal & Weber, Sebastian, 2013. "Limits of floating exchange rates: The role of foreign currency debt and import structure," Journal of Development Economics, Elsevier, vol. 101(C), pages 179-194.
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    62. Malagon Jonathan & Orbegozo Camila, 2019. "The New Drivers of Fear of Floating: Evidence from Latin America," Journal of Globalization and Development, De Gruyter, vol. 10(1), pages 1-17, June.
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    65. Ramkishen S. Rajan & Reza Siregar, 2002. "Choice of Exchange Rate Regime: Currency Board (Hong Kong) or Monitoring Band (Singapore)?," Australian Economic Papers, Wiley Blackwell, vol. 41(4), pages 538-556, December.
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  90. Panizza, Ugo, 2000. "The Public Sector Premium and the Gender Gap in Latin America: Evidence from the 1980s and 1990s," IDB Publications (Working Papers) 3252, Inter-American Development Bank.

    Cited by:

    1. Glomm Gerhard & Jung Juergen & Lee Changmin & Tran Chung, 2010. "Public Sector Pension Policies and Capital Accumulation in an Emerging Economy: The Case of Brazil," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-40, June.
    2. Pedro Gomes & Zoe Kuehn, 2017. "Human capital and the size distribution of firms," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 26, pages 164-179, October.
    3. Asma Hyder & Barry Reilly, 2005. "The Public and Private Sector Pay Gap in Pakistan: A Quantile Regression Analysis," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 44(3), pages 271-306.
    4. Luis Eduardo Arango & Carlos Esteban Posada, 2006. "Los salarios de los funcionarios p�blicos en Colombia (1978-2005)," Borradores de Economia 3181, Banco de la Republica.
    5. Gerhard Glomm & Juergen Jung & Changmin Lee & Chung Tran, 2009. "Public Sector Pension Policies and Capital Accumulation in Emerging Economies," Discussion Papers 2009-10, School of Economics, The University of New South Wales.
    6. Luis Eduardo Arango & Carlos Esteban Posada, 2006. "Los salarios de los funcionarios públicos en Colombia (1978 - 2005)," Borradores de Economia 417, Banco de la Republica de Colombia.
    7. McIntyre, Frank & Pencavel, John, 2004. "The Effect of Macroeconomic Turbulence on Real Wage Levels and the Wage Structure: Brazil, 1981-1999," Economic Development and Cultural Change, University of Chicago Press, vol. 52(4), pages 681-717, July.
    8. Nadeem ul Haque & Musleh Ud Din (ed.), 2006. "Public Sector Efficiency Perspectives On Civil Service Reform," PIDE Books, Pakistan Institute of Development Economics, number 2006:2.

  91. Panizza, Ugo & Gaviria, Alejandro & Stein, Ernesto H. & Seddon Wallack, Jessica, 2000. "Political Institutions and Growth Collapses," IDB Publications (Working Papers) 1322, Inter-American Development Bank.

    Cited by:

    1. Abderraouf Ben Ahmed Mtiraoui, 2015. "Governance, Human Capital and Economic Growth in OECD countries: Applying the dynamic panel data (GMM)," Working Papers hal-02528386, HAL.
    2. Pitlik, Hans & Wirth, Steffen, 2003. "Do crises promote the extent of economic liberalization?: an empirical test," European Journal of Political Economy, Elsevier, vol. 19(3), pages 565-581, September.
    3. Mark Hallerberg & Patrik Marier, 2004. "Executive Authority, the Personal Vote, and Budget Discipline in Latin American and Caribbean Countries," American Journal of Political Science, John Wiley & Sons, vol. 48(3), pages 571-587, July.
    4. Islam, Roumeen & Montenegro, Claudio E., 2002. "What determines the quality of institutions?," Policy Research Working Paper Series 2764, The World Bank.
    5. Mtiraoui, Abderraouf, 2015. "Gouvernance, Capital humain et Croissance économique dans la zone OCDE: Application sur les données de panel dynamique (GMM) [Governance, Human Capital and Economic Growth in OECD countries: Applying the dynamic panel data (GMM)]," MPRA Paper 61119, University Library of Munich, Germany.
    6. Malik, Adeel & Temple, Jonathan R.W., 2009. "The geography of output volatility," Journal of Development Economics, Elsevier, vol. 90(2), pages 163-178, November.
    7. Panizza, Ugo & Yañez, Mónica, 2006. "Why are Latin Americans so Unhappy about Reforms?," IDB Publications (Working Papers) 1559, Inter-American Development Bank.
    8. Alberto Chong & Alejandro Izquierdo & Alejandro Micco & Ugo Panizza, 2005. "Political and Corporate Governance and Pro‐Cyclicality in Capital Flows: Evidence from Emerging Market Countries," International Finance, Wiley Blackwell, vol. 8(2), pages 167-198, August.
    9. Hallerberg, Mark & Marier, Patrick, 2001. "Executive authority, the personal vote, and budget discipline in Latin American and Carribean countries," ZEI Working Papers B 17-2001, University of Bonn, ZEI - Center for European Integration Studies.
    10. Joko Mariyono & Saputro, 2009. "Political Determinants of Regional Economic Growth in Indonesia," Asia Pacific Journal of Public Administration, Taylor & Francis Journals, vol. 31(1), pages 39-56, June.
    11. Jairo Parada C. & Alexandra García L., 2008. "Growth and Institutions in Latin America: A pooled and cross-time series analysis (1951-1999)," Revista de Economía del Caribe, Universidad del Norte, vol. 0(0), pages 1-32.

  92. Panizza, Ugo, 1999. "Income Inequality and Economic Growth: Evidence from the American Data," IDB Publications (Working Papers) 1987, Inter-American Development Bank.

    Cited by:

    1. Markus Brueckner & Haiyan Lin, 2021. "Inequality and Growth in China," ANU Working Papers in Economics and Econometrics 2021-682, Australian National University, College of Business and Economics, School of Economics.
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    3. Victoria Prowse & Daniel Kemptner & Peter Hahn, 2017. "Insurance, Redistribution, and the Inequality of Lifetime Income," Purdue University Economics Working Papers 1304, Purdue University, Department of Economics.
    4. Gründler, Klaus & Scheuermeyer, Philipp, 2015. "Income inequality, economic growth, and the effect of redistribution," W.E.P. - Würzburg Economic Papers 95, University of Würzburg, Department of Economics.
    5. Rey, Sergio, 2015. "Bells in Space: The Spatial Dynamics of US Interpersonal and Interregional Income Inequality," MPRA Paper 69482, University Library of Munich, Germany.
    6. Fawaz, Fadi & Rahnamamoghadam, Masha & Valcarcel, Victor, 2014. "A Refinement of the Relationship between Economic Growth and Income Inequality in Developing Countries," MPRA Paper 55268, University Library of Munich, Germany.
    7. Atems, Bebonchu, 2013. "The spatial dynamics of growth and inequality: Evidence using U.S. county-level data," Economics Letters, Elsevier, vol. 118(1), pages 19-22.
    8. Manoel Bittencourt, 2013. "Economic Growth and Inequality: Evidence from the Young Democracies of South America," Working Papers 201301, University of Pretoria, Department of Economics.
    9. Sefa Awaworyi Churchill & Davidson Okai & Alberto Posso, 2016. "Internet Use and Ethnic Heterogeneity in a Cross-Section of Countries," Economic Papers, The Economic Society of Australia, vol. 35(1), pages 59-72, March.
    10. Pede, Valerien O. & Sparks, Adam H. & McKinley, Justin D., 2012. "Regional Income Inequality and Economic Growth: A Spatial Econometrics Analysis for Provinces in the Philippines," 2012 Conference (56th), February 7-10, 2012, Fremantle, Australia 124402, Australian Agricultural and Resource Economics Society.
    11. Giuseppe Arbia & Laura De Dominicis & Gianfranco Piras, 2005. "The relationship between Regional Growth and Regional Inequality in EU and transition countries - a Spatial Econometric Approach," ERSA conference papers ersa05p168, European Regional Science Association.
    12. Guido Neidhöfer & Matías Ciaschi & Leonardo Gasparini & Joaquín Serrano, 2024. "Social mobility and economic development," Journal of Economic Growth, Springer, vol. 29(2), pages 327-359, June.
    13. Clavijo-Cortes, Pedro & Robledo-Campo, Jacobo & Mendoza-Tolosa, Henry, 2019. "A Reassessment of the Relation between Economic Growth and Maldistribution of Income," MPRA Paper 97049, University Library of Munich, Germany.
    14. Bebonchu Atems, 2013. "A Note On The Differential Regional Effects Of Income Inequality: Empirical Evidence Using U.S. County-Level Data," Journal of Regional Science, Wiley Blackwell, vol. 53(4), pages 656-671, October.
    15. Jakub Bartak & Łukasz Jabłoński, 2020. "Inequality and growth: What comes from the different inequality measures?," Bulletin of Economic Research, Wiley Blackwell, vol. 72(2), pages 185-212, April.
    16. Alejandro Cañadas, 2010. "Does spatial clustering help explaining differences in the inequality of income distribution? Evidence from Argentina," Ensayos de Política Económica, Departamento de Investigación Francisco Valsecchi, Facultad de Ciencias Económicas, Pontificia Universidad Católica Argentina., vol. 1(4), pages 7-31, Octubre.
    17. Maurizio Bussolo & Daniele Checchi & Vito Peragine, 2023. "Long-term evolution of inequality of opportunity: Educated parents still matter," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 21(2), pages 277-323, June.
    18. Gabriele Tondl & Harald Badinger & Werner Müller, 2003. "Regional convergence in the European Union (1985-1999). A spatial dynamic panel analysis," ERSA conference papers ersa03p455, European Regional Science Association.
    19. Jakob Brochner Madsen & MD. Rabiul Islam & Hristos Doucouliagos, 2016. "Inequality, Financial Development and Economic Growth in the OECD, 1870-2011," Monash Economics Working Papers 18-16, Monash University, Department of Economics.
    20. Obadiah Jonathan Gimba & Mehdi Seraj & Huseyin Ozdeser, 2021. "What drives income inequality in sub‐Saharan Africa and its sub‐regions? An examination of long‐run and short‐run effects," African Development Review, African Development Bank, vol. 33(4), pages 729-741, December.
    21. Thompson Jeffrey P. & Leight Elias, 2012. "Do Rising Top Income Shares Affect the Incomes or Earnings of Low and Middle-Income Families?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 12(1), pages 1-38, November.
    22. Adelaide Duarte & Marta Simões, 2009. "Channels of transmission of inequality to growth: A survey of the theory and evidence from a Portuguese perspective," GEMF Working Papers 2009-07, GEMF, Faculty of Economics, University of Coimbra.
    23. Andrew Berg & Jonathan D. Ostry & Charalambos G. Tsangarides & Yorbol Yakhshilikov, 2018. "Redistribution, inequality, and growth: new evidence," Journal of Economic Growth, Springer, vol. 23(3), pages 259-305, September.
    24. Michal Brzezinski, 2013. "Income Polarization and Economic Growth," LIS Working papers 587, LIS Cross-National Data Center in Luxembourg.
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    26. Marrero,Gustavo Alberto & Rodríguez,Juan Gabriel & Van Der Weide,Roy, 2021. "Does Race and Gender Inequality Impact Income Growth ?," Policy Research Working Paper Series 9865, The World Bank.
    27. Claudio Morana, 2003. "Long-Run Growth and Income Distribution: Evidence for Italy and the US," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 62(2), pages 171-210, October.
    28. Dierk Herzer & Sebastian Vollmer, 2012. "Inequality and growth: evidence from panel cointegration," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 10(4), pages 489-503, December.
    29. Maria Abreu & Henri L.F. de Groot & Raymond J.G.M. Florax, 2005. "A Meta-Analysis of Beta-Convergence: The Legendary Two-Percent," Tinbergen Institute Discussion Papers 05-001/3, Tinbergen Institute.
    30. Cakal-Velagic Jurdal & Silajdzic Sabina, 2024. "The Effects of Macroeconomic and Financial Development on Income Inequality: Evidence from the Western Balkans," South East European Journal of Economics and Business, Paradigm, vol. 19(1), pages 50-62.
    31. Bertocchi, Graziella & Dimico, Arcangelo, 2011. "The Evolution of the Racial Gap in Education and the Legacy of Slavery," IZA Discussion Papers 6192, IZA Network @ LISER.
    32. Marta Simões & João Andrade & Adelaide Duarte, 2013. "A regional perspective on inequality and growth in Portugal using panel cointegration analysis," International Economics and Economic Policy, Springer, vol. 10(3), pages 427-451, September.
    33. Kumor, Paweł, . "Modelowanie wpływu nierówności płac na wzrost gospodarczy," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2008(7-8).
    34. Roy van der Weide & Branko Milanovic, 2018. "Inequality is Bad for Growth of the Poor (but Not for That of the Rich)," The World Bank Economic Review, World Bank, vol. 32(3), pages 507-530.
    35. Sergio J. Rey, 2018. "Bells in Space," International Regional Science Review, , vol. 41(2), pages 152-182, March.
    36. Bianca VEZENTAN & Olimpia NEAGU, 2024. "Income Inequality, Economic Growth, And Institutional Factors: A Comparative Analysis At The European Union (Eu) Level," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 33(1), pages 192-204, July.
    37. Adnen Ben Nasr & Mehmet Balcilar & Rangan Gupta & Seyi Saint Akadiri, 2020. "Asymmetric effects of inequality on real output levels of the United States," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 10(1), pages 47-69, March.
    38. Araceli Ortega Diaz, 2004. "Assesment of the relationship between Inequality and Economic Growth: A panel Data Approach," Econometric Society 2004 Latin American Meetings 261, Econometric Society.
    39. Anjan Kumar Sahu & Mantu Kumar Mahalik, 2025. "What drives more for macroeconomic instability-carbon inequality or income inequality? Panel evidence from emerging economies," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(6), pages 12653-12676, June.
    40. Kennedy, Tom & Smyth, Russell & Valadkhani, Abbas & Chen, George, 2017. "Does income inequality hinder economic growth? New evidence using Australian taxation statistics," Economic Modelling, Elsevier, vol. 65(C), pages 119-128.
    41. Arshad Ali Bhatti & M. Emranul Haque & Denise R. Osborn, 2015. "Threshold Effects of Inequality on the Process of Economic Growth," Centre for Growth and Business Cycle Research Discussion Paper Series 205, Economics, The University of Manchester.
    42. Nahum, Ruth-Aïda, 2005. "Income Inequality and Growth: A Panel Study of Swedish Counties 1960-2000," Working Paper Series 2005:8, Uppsala University, Department of Economics.
    43. Chroufa, Mohamed Ali & Chtourou, Nouri, 2023. "Financial development threshold effect on wealth inequality-economic growth nexus: Evidence from MENA economies," The Journal of Economic Asymmetries, Elsevier, vol. 28(C).
    44. Antonelli, Cristiano & Gehringer, Agnieszka, 2013. "Innovation and Income Inequality," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201311, University of Turin.
    45. Kazakova, M.V. (Казакова, М.В.) & Kiblitskaya, T.R. (Киблицкая, Т.Р.) & Lyubimov, I.L. (Любимов, И.Л.) & Nesterova, K.V. (Нестерова, К.В.), 2016. "Inequality and Economic Growth: An Empirical Evaluation of Foreign Countries and Russia [Неравенство И Экономический Рост: Эмпирические Оценки Для Зарубежных Стран И России]," Working Papers 2043, Russian Presidential Academy of National Economy and Public Administration.
    46. Ronald Fischer & Diego Huerta & Patricio Valenzuela, 2017. "The Inequality-Credit Nexus," Documentos de Trabajo 330, Centro de Economía Aplicada, Universidad de Chile.
    47. Julio Huato, 2023. "Inequality and Growth: A Two-Player Dynamic Game with Production and Appropriation," Papers 2304.01855, arXiv.org.
    48. Maria Abreu & Henri L. F. de Groot & Raymond J. G. M. Florax, 2005. "A Meta‐Analysis of β‐Convergence: the Legendary 2%," Journal of Economic Surveys, Wiley Blackwell, vol. 19(3), pages 389-420, July.
    49. Reutzel, Fabian, 2024. "The grass is always greener on the other side: (Unfair) inequality and support for democracy," European Journal of Political Economy, Elsevier, vol. 85(C).
    50. Oded Galor & Omer Moav, 2004. "From Physical to Human Capital Accumulation: Inequality and the Process of Development," GE, Growth, Math methods 0410005, University Library of Munich, Germany.
    51. Duong, Khanh & Nguyen Phuc Van, 2023. "Rethinking the Inequality-Growth Nexus: Short-Term Gains and Long-Term Challenges," GLO Discussion Paper Series 1356, Global Labor Organization (GLO).
    52. Antonelli, Cristiano & Gehringer, Agnieszka, 2017. "Technological change, rent and income inequalities: A Schumpeterian approach," Technological Forecasting and Social Change, Elsevier, vol. 115(C), pages 85-98.
    53. International Monetary Fund, 2003. "Income Inequality and Redistributive Government Spending," IMF Working Papers 2003/014, International Monetary Fund.
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    55. Gustavo A. Marrero & Juan Gabriel Rodríguez, 2019. "Inequality and growth: The cholesterol hypothesis," Working Papers 501, ECINEQ, Society for the Study of Economic Inequality.
    56. Christina Stacy & Brady Meixell & Tanaya Srini, 2019. "Inequality Versus Inclusion in US Cities," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 145(1), pages 117-156, August.
    57. Amparo Castelló-Climent, 2004. "A Reassessment Of The Relationship Between Inequality And Growth: What Human Capital Inequality Data Say?," Working Papers. Serie EC 2004-15, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    58. Mdingi, Kholeka & Ho, Sin-Yu, 2023. "Income inequality and economic growth: An empirical investigation in South Africa," MPRA Paper 117733, University Library of Munich, Germany.
    59. Panagiotis Artelaris, 2021. "Regional economic growth and inequality in Greece," Regional Science Policy & Practice, Wiley Blackwell, vol. 13(1), pages 141-158, February.
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    64. Guido Neidhöfer & Matías Ciaschi & Leonardo Gasparini & Joaquín Serrano, 2021. "Social Mobility and Economic Development: Evidence from a Panel of Latin American Regions," CEDLAS, Working Papers 0286, CEDLAS, Universidad Nacional de La Plata.
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    127. Tadeusz Misiak & Tomasz Tokarski & Robert W. Włodarczyk, 2011. "Konwergencja czy dywergencja polskich rynków pracy?," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 7-8, pages 47-69.
    128. Alokesh Barua & Aparna Sawhney, 2015. "Development Policy Implications for Growth and Regional Inequality in a Small Open Economy: The Indian Case," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 695-709, August.
    129. Shinhye Chang & Matthew W. Clance & Giray Gozgor & Rangan Gupta, 2019. "A Reconsideration of Kuznets Curve across Countries: Evidence from the Co-summability Approach," Working Papers 201970, University of Pretoria, Department of Economics.
    130. Abebe Hailemariam & Tutsirai Sakutukwa & Ratbek Dzhumashev, 2021. "Long-term determinants of income inequality: evidence from panel data over 1870–2016," Empirical Economics, Springer, vol. 61(4), pages 1935-1958, October.
    131. Hatipoglu, Ozan, 2008. "An Empirical Analysis of the Relationship Between Inequality and Innovation in a Schumpeterian Framework," MPRA Paper 7856, University Library of Munich, Germany.
    132. Sefa Awaworyi Churchill & Bin Peng & Russell Smyth & Quanda Zhang, 2022. "R&D intensity and income inequality in the G7: 1870–2016," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(3), pages 263-282, July.
    133. Ọláyínká Oyèkọ́lá, 2021. "Finance and inequality in a panel of US States," Empirical Economics, Springer, vol. 61(5), pages 2739-2795, November.
    134. T. Tavor & L. D. Gonen & M. Weber & U. Spiegel, 2018. "The Effects of Income Levels and Income Inequalities on Happiness," Journal of Happiness Studies, Springer, vol. 19(7), pages 2115-2137, October.
    135. Fuad Hasanov & Oded Izraeli, 2011. "Income Inequality, Economic Growth, And The Distribution Of Income Gains: Evidence From The U.S. States," Journal of Regional Science, Wiley Blackwell, vol. 51(3), pages 518-539, August.
    136. Milena Kowalska, 2021. "The Relationship between Income Inequalities and Economic Growth: New Evidence," European Research Studies Journal, European Research Studies Journal, vol. 0(3 - Part ), pages 152-164.
    137. Verónica Amarante & Gioia de Melo, 2004. "Crecimiento económico y desigualdad: una revisión bibliográfica," Documentos de Trabajo (working papers) 04-02, Instituto de Economía - IECON.
    138. Anna Golejewska, 2012. "Human capital and regional growth perspective," Working Papers of Economics of European Integration Division 1204, The Univeristy of Gdansk, Faculty of Economics, Economics of European Integration Division.
    139. Heather Boushey & Christian E. Weller, 2006. "Inequality and Household Economic Hardship in the United States of America," Working Papers 18, United Nations, Department of Economics and Social Affairs.
    140. Guo, Minjia & Zong, Xiangyu & Guo, Lubingzhi & Lei, Yongyu, 2024. "Does haze-related sentiment affect income inequality in China?," International Review of Economics & Finance, Elsevier, vol. 94(C).
    141. Hutter, Christian & Weber, Enzo, 2017. "Labour market effects of wage inequality and skill-biased technical change in Germany," IAB-Discussion Paper 201705, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    142. Andros Kourtellos & Charalambos G. Tsangarides, 2015. "Robust Correlates of Growth Spells: Do Inequality and Redistribution Matter?," Working Paper series 15-20, Rimini Centre for Economic Analysis.
    143. Masako Oyama, 2014. "New evidence on income distribution and economic growth in Japan," ISER Discussion Paper 0917, Institute of Social and Economic Research, The University of Osaka.
    144. Jorge Charles-Coll & Elisabeth L. Mayer Granados, 2017. "How much Inequality is Harmful for Growth? The Growth Maximizing Rate of Inequality in the Context of the Mexican Economy," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 70(3), pages 301-318.
    145. Hyejin Jung & Inseok Seo & Kyujin Jung, 2018. "Mediating Role of Entrepreneurship in Explaining the Association Between Income Inequality and Regional Economic Performance," Economic Development Quarterly, , vol. 32(2), pages 135-145, May.
    146. Paweł Kumor, 2008. "Modelowanie wpływu nierówności płac na wzrost gospodarczy," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 7-8, pages 43-61.
    147. Misiak, Tadeusz & Tokarski, Tomasz & Włodarczyk, Robert W., . "Konwergencja czy dywergencja polskich rynków pracy?," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2011(7-8).
    148. Bertocchi, Graziella & Dimico, Arcangelo, 2012. "The racial gap in education and the legacy of slavery," Journal of Comparative Economics, Elsevier, vol. 40(4), pages 581-595.
    149. Blanco, Luisa, 2010. "Life is Unfair in Latin America, But Does it Matter for Growth?," World Development, Elsevier, vol. 38(3), pages 393-404, March.
    150. Matías Braun & Francisco Parro & Patricio Valenzuela, 2019. "Does Finance Alter The Relation Between Inequality And Growth?," Economic Inquiry, Western Economic Association International, vol. 57(1), pages 410-428, January.
    151. Tsun Se Cheong & Guanghua Wan & David Kam Hung Chui, 2022. "Unveiling the Relationship between Economic Growth and Equality for Developing Countries," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(5), pages 1-28, September.
    152. Anis Ochi & Mohamed Ali Labidi & Yosra Saidi, 2024. "The Nexus Between Pro-poor Growth, Inequality, Institutions and Poverty: Evidence from Low and Middle Income Developing Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 172(2), pages 703-739, March.
    153. Cafferata, Alessia & Radi, Davide & Ravasi, Daniele, 2025. "Informal networks and education choice: A dynamic macro model," Economic Modelling, Elsevier, vol. 151(C).
    154. Cole, Ismail M., 2014. "Short- and long-term growth effects of special interest groups in the U.S. states: A dynamic panel error-correction approach," MPRA Paper 54455, University Library of Munich, Germany, revised 02 Mar 2014.
    155. Roberto Ezcurra, 2007. "Is Income Inequality Harmful for Regional Growth? Evidence from the European Union," Urban Studies, Urban Studies Journal Limited, vol. 44(10), pages 1953-1971, September.
    156. Mr. Shekhar Aiyar & Mr. Christian H Ebeke, 2019. "Inequality of Opportunity, Inequality of Income and Economic Growth," IMF Working Papers 2019/034, International Monetary Fund.
    157. Alex O. Acheampong & Tomiwa Sunday Adebayo & Janet Dzator & Isaac Koomson, 2023. "Income inequality and economic growth in BRICS: insights from non-parametric techniques," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 21(3), pages 619-640, September.
    158. Matías Braun & Francisco Parro & Patricio Valenzuela, 2017. "Inequality, Finance, and Growth," Documentos de Trabajo 329, Centro de Economía Aplicada, Universidad de Chile.
    159. Steven Deller & Craig Maher & Judith Stallmann, 2021. "Do tax and expenditure limitations exacerbate rising income inequality?," Economics and Politics, Wiley Blackwell, vol. 33(3), pages 611-643, November.
    160. Danish Khattak & Ayaz Muhammad & Kashif Iqbal, 2014. "Determining the Relationship between Income Inequality, Economic Growth & Inflation," Journal of Social Economics, Research Academy of Social Sciences, vol. 1(3), pages 104-114.
    161. Ibrahim Msadiq & Kolawole Iyiola & Ahmad Alzubi, 2025. "Guardians of Growth: Can Supply Chain Pressure, Artificial Intelligence, and Economic Inequality Ensure Economic Sustainability," Sustainability, MDPI, vol. 17(17), pages 1-22, September.
    162. Mikulas Luptacik & Bernhard Mahlberg, 2018. "Revisiting the Efficiency-Equity Trade-off: A Muli-objective Linear Problem combined with an extended Leontief Input Output Model," Department of Economic Policy Working Paper Series 016, Department of Economic Policy, Faculty of National Economy, University of Economics in Bratislava.
    163. Furquim, Lilian de Toni & Garcia, Fernando, 2001. "Inequality and economic growth in Latin," Textos para discussão 104, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
    164. Mohamed Ali Labidi & Anis Ochi & Yosra Saidi, 2024. "Extreme Poverty, Economic Growth, and Income Inequality Trilogy in Sub-Saharan Africa and South Asia: A GMM Panel VAR Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 10592-10612, September.
    165. Hajamini, Mehdi, 2020. "Analyzing the Causal Relationships between Economic Growth, Income Inequality, and Transmission Channels: New Empirical Evidences from Iran," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 15(3), pages 313-342, July.
    166. Huang, Ho-Chuan (River) & Lin, Shu-Chin, 2007. "Semiparametric Bayesian inference of the Kuznets hypothesis," Journal of Development Economics, Elsevier, vol. 83(2), pages 491-505, July.
    167. Adelaide P. S. Duarte & Marta C. N. Simões, 2011. "Inequality and Growth relevant Links for the Portuguese Economy," Book Chapters, in: Mirjana Radovic Markovic & Srdjan Redzepagic & João Sousa Andrade & Paulino Teixeira (ed.), Serbia and the European Union: Economic Lessons from the New Member States, edition 1, volume 1, chapter 11, pages 167-184, Institute of Economic Sciences.
    168. Mark W. Frank, 2009. "Inequality And Growth In The United States: Evidence From A New State‐Level Panel Of Income Inequality Measures," Economic Inquiry, Western Economic Association International, vol. 47(1), pages 55-68, January.
    169. Markus Brueckner & Daniel Lederman, 2018. "Inequality and economic growth: the role of initial income," Journal of Economic Growth, Springer, vol. 23(3), pages 341-366, September.

  93. Panizza, Ugo, 1998. "Why Do Lazy People Make More Money?: The Strange Case of the Public Sector Wage Premium," IDB Publications (Working Papers) 1896, Inter-American Development Bank.

    Cited by:

    1. Mathieu Narcy, 2011. "Would nonprofit workers accept to earn less? Evidence from France," Applied Economics, Taylor & Francis Journals, vol. 43(3), pages 313-326.
    2. Molinas, José R. & Pérez-Liñán, Aníbal & Saiegh, Sebastián & Montero, Marcela, 2006. "Political Institutions, Policymaking Processes and Policy Outcomes in Paraguay, 1954-2003," IDB Publications (Working Papers) 3359, Inter-American Development Bank.
    3. Sebastian Saiegh & Marcela Montero & Anibal Pérez-Liñán & José Molinas, 2006. "Instituciones políticas, procesos de diseño de políticas y resultados de políticas en Paraguay, 1954-2003," Research Department Publications 3195, Inter-American Development Bank, Research Department.
    4. Sebastian Saiegh & Marcela Montero & Anibal Pérez-Liñán & José Molinas, 2006. "Political Institutions, Policymaking Processes and Policy Outcomes in Paraguay, 1954-2003," Research Department Publications 3194, Inter-American Development Bank, Research Department.
    5. Donato Di Carlo & Christian Lyhne Ibsen & Oscar Molina, 2024. "The new political economy of public sector wage-setting in Europe: Introduction to the special issue," European Journal of Industrial Relations, , vol. 30(1), pages 5-30, March.

Articles

  1. Jean‐Louis Arcand & Enrico Berkes & Ugo Panizza, 2026. "Too Much Finance Redux," Manchester School, University of Manchester, vol. 94(6), pages 614-628, December.
    See citations under working paper version above.
  2. Francesca Caselli & Matilde Faralli & Paolo Manasse & Ugo Panizza, 2026. "On the Benefits of Repaying," Journal of the European Economic Association, European Economic Association, vol. 24(2), pages 517-566.
    See citations under working paper version above.
  3. Chahine, Salim & Panizza, Ugo & Suedekum, Guilherme, 2025. "IMF programs and borrowing costs does size matter?," European Economic Review, Elsevier, vol. 177(C).
    See citations under working paper version above.
  4. Ugo Panizza, 2025. "Long-Term Debt Sustainability in Emerging Market Economies: A Counterfactual Analysis," Review of Development Finance Journal, Chartered Institute of Development Finance, vol. 15(1), pages 1-19.
    See citations under working paper version above.
  5. Panizza, Ugo, 2025. "Do countries default in bad times? The role of alternative detrending techniques," Economics Letters, Elsevier, vol. 246(C).
    See citations under working paper version above.
  6. Huang, Yi & Panizza, Ugo & Portes, Richard, 2024. "Corporate foreign bond issuance and interfirm loans in China," Journal of International Economics, Elsevier, vol. 152(C).
    See citations under working paper version above.
  7. Nano, Enrico & Panizza, Ugo & Viarengo, Martina, 2024. "Merit-based scholarships for university graduates: A generation of Italian economists," Labour Economics, Elsevier, vol. 90(C).

    Cited by:

    1. Saqlain, Muhammad & Merigó, José M. & Gil-Lafuente, Ana M. & Kydland, Finn & Amiguet, Lluis, 2026. "100 volumes of Labour Economics: A bibliometric retrospective," Labour Economics, Elsevier, vol. 100(C).

  8. Panizza, Ugo, 2024. "Bank ownership around the world," Journal of Banking & Finance, Elsevier, vol. 166(C).
    See citations under working paper version above.
  9. Patrick Bolton & Lee Buchheit & Mitu Gulati & Ugo Panizza & Beatrice Weder & Jeromin Zettelmeyer, 2023. "On Debt and climate," Oxford Open Economics, Oxford University Press, vol. 2, pages 307-316.

    Cited by:

    1. Li, Luxi & Ye, Qing & You, Jialu & Chen, Zhicheng, 2025. "Does AI mitigate climate risk and reduce the cost of capital? Evidence from firm-level data," International Review of Financial Analysis, Elsevier, vol. 108(PB).

  10. Ugo Panizza, 2023. "State-owned commercial banks," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 26(1), pages 44-66, January.
    See citations under working paper version above.
  11. Patrick Bolton & Mitu Gulati & Ugo Panizza, 2023. "Sovereign Debt Puzzles," Annual Review of Financial Economics, Annual Reviews, vol. 15(1), pages 239-263, November.
    See citations under working paper version above.
  12. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2023. "Yet it Endures: The Persistence of Original Sin," Open Economies Review, Springer, vol. 34(1), pages 1-42, February.
    See citations under working paper version above.
  13. Patrick Bolton & Lee C Buchheit & Beatrice Weder di Mauro & Ugo Panizza & Mitu Gulati, 2022. "Environmental protection and sovereign debt restructuring," Capital Markets Law Journal, Oxford University Press, vol. 17(3), pages 307-316.

    Cited by:

    1. Felicia Wartiainen & Bram Boer & Pieter Pauw & Henny Romijn, 2024. "Addressing the Twin Crises of Debt and Climate: Exploring Unconditional Debt Cancellation," Development, Palgrave Macmillan;Society for International Deveopment, vol. 67(3), pages 187-196, December.

  14. Bussolo, Maurizio & de Nicola, Francesca & Panizza, Ugo & Varghese, Richard, 2022. "Politically connected firms and privileged access to credit: Evidence from Central and Eastern Europe," European Journal of Political Economy, Elsevier, vol. 71(C).

    Cited by:

    1. Luo, Lianfa & Cheng, Zhiming & Ye, Qingqing & Cheng, Yanjun & Smyth, Russell & Yang, Zhiqing & Zhang, Le, 2023. "Nonmonetary Awards and Innovation: Evidence from Winning China's Top Brand Contest," GLO Discussion Paper Series 1345, Global Labor Organization (GLO).
    2. Omneya Abdelsalam & Sabur Mollah & Emili Tortosa‐Ausina & Ahmed A. El‐Masry, 2025. "Do political connections matter for bank efficiency in times of crisis?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(1), pages 602-625, January.
    3. Osei-Tutu, Francis & Weill, Laurent, 2023. "Democracy favors access to credit of firms," European Journal of Political Economy, Elsevier, vol. 77(C).
    4. Michelson, Noam, 2023. "The revolving door of former civil servants and firm value: A comprehensive approach," European Journal of Political Economy, Elsevier, vol. 79(C).
    5. Mariarosaria Agostino & Sabrina Ruberto, 2024. "Credit rationing and SMEs’ environmental performance in transition and developing countries," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(7), pages 16627-16656, July.
    6. Pengfei Ge & Chuxiong Tang & Yuhui Chen & Yichao Liu & Rui Zhu, 2025. "Green Bonds: Greenwashing or Genuinely Green? A Study Based on Stock Mispricing," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 46(6), pages 3396-3413, September.
    7. Wei Shao & Ziqi Chen & Huaiyu Liu, 2022. "How do political connections affect the formation of zombie firms? Evidence from Chinese manufacturing listed enterprises," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 36(2), pages 17-31, November.
    8. Yujing Huang, 2022. "The Impact of Government Official Assessment on Ecological Poverty Alleviation: Evidence from Chinese Listed Companies," IJERPH, MDPI, vol. 19(6), pages 1-19, March.
    9. Aboushady, Nora & Zaki, Chahir, 2023. "Are global value chains for sale? On business-state relations in the MENA region," IDOS Discussion Papers 17/2023, German Institute of Development and Sustainability (IDOS).
    10. Jackowicz, Krzysztof & Kozłowski, Łukasz & Podgórski, Błażej, 2022. "Political appointees and firms’ long-term capital market performance: Evidence from Central European countries," Finance Research Letters, Elsevier, vol. 49(C).
    11. Rocca, Maurizio La & Fasano, Francesco & Cappa, Francesco & Neha, Neha, 2022. "The relationship between political connections and firm performance: An empirical analysis in Europe," Finance Research Letters, Elsevier, vol. 49(C).
    12. Li Deng & Peng Huang & Yue Lu & Hongjie Weng, 2024. "How do big customers influence bank loans in China? The role of state ownership and political connections," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(2), pages 1613-1636, June.
    13. Couture, Cody & Smit, Abhiprerna, 2025. "Stock returns of federal reserve officials," European Journal of Political Economy, Elsevier, vol. 90(PB).
    14. Wadhwa, Kavita & Goodell, John W., 2024. "Political uncertainty and stock price crash risk: Insights from state-elections in an emerging market," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    15. Feng, Xiru & Wang, Anbang & Weng, Zongyuan & Du, Junhua, 2026. "Politically connected independent directors and the gap between carbon disclosure and emission reductions," Economic Analysis and Policy, Elsevier, vol. 90(C), pages 1386-1402.
    16. Alexander Amundsen & Danny Leung & Oana Secrieru, 2026. "Business dynamism and financial constraints," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 59(1), pages 67-105, February.
    17. Qingxi Meng & Anting Zhang & Yi Yang & Linda H. Chen, 2026. "Digitalization of tax information and its impact on mitigating debt default risk – insights from overdue bank loans of publicly traded firms in China," Review of Quantitative Finance and Accounting, Springer, vol. 66(3), pages 1283-1329, April.

  15. Anna Gelpern & Ugo Panizza, 2022. "Enough Potential Repudiation: Economic and Legal Aspects of Sovereign Debt in the Pandemic Era," Annual Review of Economics, Annual Reviews, vol. 14(1), pages 545-570, August.
    See citations under working paper version above.
  16. Ugo Panizza & Mitu Gulati, 2021. "Make-wholes in sovereign bonds," Capital Markets Law Journal, Oxford University Press, vol. 16(3), pages 267-299.

    Cited by:

    1. Leeper, Eric M. & Zhou, Xuan, 2021. "Inflation’s role in optimal monetary-fiscal policy," Journal of Monetary Economics, Elsevier, vol. 124(C), pages 1-18.

  17. Patrick Bolton & Ugo Panizza & Mitu Gulati, 2021. "Legal Air Cover," Journal of Financial Regulation, Oxford University Press, vol. 7(2), pages 189-216.
    See citations under working paper version above.
  18. Mitu Gulati & Ugo Panizza, 2020. "Alternative Solutions to the Odious Debt Problem," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 54(1), pages 153-168, June.
    See citations under working paper version above.
  19. Yi Huang & Marco Pagano & Ugo Panizza, 2020. "Local Crowding‐Out in China," Journal of Finance, American Finance Association, vol. 75(6), pages 2855-2898, December.
    See citations under working paper version above.
  20. Mitu Gulati & Ugo Panizza, 2020. "The Hausmann–Gorky Effect," Journal of Business Ethics, Springer, vol. 166(1), pages 175-195, September.
    See citations under working paper version above.
  21. Eduardo Fernández-Arias & Ricardo Hausmann & Ugo Panizza, 2020. "Smart Development Banks," Journal of Industry, Competition and Trade, Springer, vol. 20(2), pages 395-420, June.
    See citations under working paper version above.
  22. Alfaro, Laura & Asis, Gonzalo & Chari, Anusha & Panizza, Ugo, 2019. "Corporate debt, firm size and financial fragility in emerging markets," Journal of International Economics, Elsevier, vol. 118(C), pages 1-19.
    See citations under working paper version above.
  23. Ugo Panizza, 2018. "Nonlinearities in the Relationship Between Finance and Growth," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(1), pages 44-53, March.
    See citations under working paper version above.
  24. Galindo, Arturo J. & Panizza, Ugo, 2018. "The cyclicality of international public sector borrowing in developing countries: Does the lender matter?," World Development, Elsevier, vol. 112(C), pages 119-135.
    See citations under working paper version above.
  25. Eduardo Cavallo & Barry Eichengreen & Ugo Panizza, 2018. "Can countries rely on foreign saving for investment and economic development?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 154(2), pages 277-306, May.
    See citations under working paper version above.
  26. Ugo Panizza & Charles Wyplosz, 2018. "The Folk Theorem of Decreasing Effectiveness of Monetary Policy: What Do the Data Say?," Russian Journal of Money and Finance, Bank of Russia, vol. 77(1), pages 71-107, March.

    Cited by:

    1. Stéphane Lhuissier & Benoit Mojon & Juan Rubio-Ramírez, 2020. "Does the liquidity trap exist?," BIS Working Papers 855, Bank for International Settlements.
    2. Di Casola, Paola & Stockhammar, Pär, 2021. "When domestic and foreign QE overlap: evidence from Sweden," Working Paper Series 404, Sveriges Riksbank (Central Bank of Sweden).

  27. Barry Eichengreen & Ugo Panizza, 2016. "A surplus of ambition: can Europe rely on large primary surpluses to solve its debt problem?," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 31(85), pages 5-49.
    See citations under working paper version above.
  28. Piergiuseppe Fortunato & Ugo Panizza, 2015. "Democracy, education and the quality of government," Journal of Economic Growth, Springer, vol. 20(4), pages 333-363, December.
    See citations under working paper version above.
  29. Christopher Adam & Ugo Panizza & Andrea Presbitero & David Vines, 2015. "Financing for development: editors’ introduction," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 31(3-4), pages 259-267.

    Cited by:

    1. Saba Iqbal & Safia Nosheen, 2023. "Adoption of Sustainable Development Goals and Financial Performance of Banks," Indonesian Journal of Sustainability Accounting and Management, Asian Online Journal Publishing Group, vol. 7(2), pages 344-360.

  30. Jean Arcand & Enrico Berkes & Ugo Panizza, 2015. "Too much finance?," Journal of Economic Growth, Springer, vol. 20(2), pages 105-148, June.
    See citations under working paper version above.
  31. Llosa, Luis Gonzalo & Panizza, Ugo, 2015. "La gran depresión de la economía peruana: ¿Una tormenta perfecta?," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 30, pages 91-117.

    Cited by:

    1. Margarita Elluz Calle Arancibia & Wagner Enoc Vicente Ramos & Gustavo Ilich Loayza Acosta, 2020. "Determinants of Arrears in the Municipal Savings Banks, Rural Savings Banks and EDPYMES of Peru," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(4), pages 523-536, July.
    2. Saki Bigio & Nelson R. Ramírez Rondán, 2017. "Corrupción e indicadores de desarrollo en el Perú y el mundo: una revisión empírica," Working Papers 111, Peruvian Economic Association.

  32. Ugo Panizza, 2014. "Financial Development and Economic Growth: Known Knowns, Known Unknowns, and Unknown Unknowns," Revue d’économie du développement, De Boeck Université, vol. 22(HS02), pages 35-65.

    Cited by:

    1. Manuel Ennes Ferreira & Jelson Serafim & João Dias, 2022. "Finance-Growth Nexus: Evidence from Angola," Working Papers REM 2022/0227, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    2. Benczur, Peter & Karagiannis, Stylianos & Kvedaras, Virmantas, 2017. "Finance and economic growth: financing structure and non-linear impact," JRC Working Papers in Economics and Finance 2017-07, Joint Research Centre, European Commission.
    3. Fatma Bouattour, 2020. "Measuring financial constraints of Brazilian industries: Rajan and Zingales index revisited," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 29(6), pages 677-710, August.
    4. Abdul Rafay & Saqib Farid, 2017. "Dynamic Relationship between Islamic Banking System and Real Economic Activity: Evidence from Pakistan العلاقة الديناميكية بين النظام المصرفي الإسلامي والنشاط الاقتصادي الحقيقي: التجربة الباكستانية," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 30(2), pages 97-116, July.
    5. Emmanuel Carré & Guillaume L’œillet, 2018. "The Literature on the Finance–Growth Nexus in the Aftermath of the Financial Crisis: A Review," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(1), pages 161-180, March.
    6. Nader AlKathiri & Sambit Bhattacharyya, 2021. "Credit Creation, Economic Progress and the Saturation Effect: A Sector Level Analysis," Working Paper Series 1121, Department of Economics, University of Sussex Business School.
    7. Ajai Chopra, 2015. "Financing Productivity- and Innovation-Led Growth in Developing Asia: International Lessons and Policy Issues," Working Paper Series WP15-6, Peterson Institute for International Economics.
    8. Martin Melecky & Anca Maria Podpiera, 2016. "Central Bank Design and Banking Supervision," BAFFI CAREFIN Working Papers 1630, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    9. Konstantin Krinichansky & Maksim Yurevich, 2023. "Finance and growth: Nonlinearity and structural shifts," Applied Econometrics, Russian Academy of National Economy and Public Administration (RANEPA), vol. 72, pages 5-22.
    10. Paul Wachtel, 2017. "Credit Deepening: Precursor to growth or crisis?," Working Papers 17-04, New York University, Leonard N. Stern School of Business, Department of Economics.
    11. Eliana Lauretta & Sajid M. Chaudhry & Daniel Santamaria, 2023. "Unveiling the black swan of the finance‐growth Nexus: Assumptions and preliminary evidence of virtuous and unvirtuous cycles," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 3749-3773, October.
    12. Imam, Patrick & Kpodar, Kangni, 2016. "Islamic banking: Good for growth?," Economic Modelling, Elsevier, vol. 59(C), pages 387-401.
    13. Tran, Viet T. & Walle, Yabibal M. & Herwartz, Helmut, 2020. "The impact of local financial development on firm growth in Vietnam: Does the level of corruption matter?," European Journal of Political Economy, Elsevier, vol. 62(C).
    14. Clavero, Borja, 2017. "A contribution to the Quantity Theory of Disaggregated Credit," MPRA Paper 76657, University Library of Munich, Germany.
    15. Lee, Chi-Chuan & Lee, Chien-Chiang, 2020. "Insurance activity, real output, and geopolitical risk: Fresh evidence from BRICS," Economic Modelling, Elsevier, vol. 92(C), pages 207-215.
    16. Ugo Panizza, 2018. "Nonlinearities in the Relationship Between Finance and Growth," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(1), pages 44-53, March.
    17. Melecky,Martin & Podpiera,Anca Maria, 2015. "Placing Bank supervision in the Central Bank : implications for financial stability based on evidence from the global crisis," Policy Research Working Paper Series 7320, The World Bank.
    18. Abdul Rahman & Muhammad Arshad Khan & Lanouar Charfeddine, 2020. "Does Financial Sector Promote Economic Growth in Pakistan? Empirical Evidences From Markov Switching Model," SAGE Open, , vol. 10(4), pages 21582440209, October.
    19. Gould, David M. & Melecky, Martin & Panterov, Georgi, 2016. "Finance, growth and shared prosperity: Beyond credit deepening," Journal of Policy Modeling, Elsevier, vol. 38(4), pages 737-758.
    20. Lee, Chien-Chiang & Chang, Chi-Hung & Arouri, Mohamed & Lee, Chi-Chuan, 2016. "Economic growth and insurance development: The role of institutional environments," Economic Modelling, Elsevier, vol. 59(C), pages 361-369.
    21. Alessio Ciarlone, 2019. "The relationship between financial development and growth: the case of emerging Europe," Questioni di Economia e Finanza (Occasional Papers) 521, Bank of Italy, Economic Research and International Relations Area.

  33. Panizza, Ugo & Presbitero, Andrea F., 2014. "Public debt and economic growth: Is there a causal effect?," Journal of Macroeconomics, Elsevier, vol. 41(C), pages 21-41.
    See citations under working paper version above.
  34. Ugo Panizza, 2014. "Développement financier et croissance économique : les connus connus, les inconnus connus et les inconnus inconnus," Revue d’économie du développement, De Boeck Université, vol. 22(2), pages 33-66.

    Cited by:

    1. Emmanuel Carré & Guillaume L’Œillet, 2017. "Une revue de la littérature récente sur le nexus finance-croissance après la crise : apports, limites et pistes de recherche," Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 271-290.

  35. U G O Panizza, 2013. "The Origins and Resolution of Debt Crises: It Is Not Always Fiscal!," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 55(3), pages 431-453, September.

    Cited by:

    1. António Afonso & José Alves, 2017. "Stock-Flow Adjustments and Interest Rates," Working Papers Department of Economics 2017/05, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    2. Afonso, António & Alves, José, 2019. "Short and long-term interest rate risk: The sovereign balance-sheet nexus," Finance Research Letters, Elsevier, vol. 31(C).
    3. Alberto Bagnai & Christian Alexander Mongeau Ospina, 2014. "The a/simmetrie annual macroeconometric model of the Italian economy: structure and properties," a/ Working Papers Series 1405, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
    4. Percival Pineda, 2017. "Financial liberalization and private sector borrowing in ASEAN 4 economies 1990–2012," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 7(2), pages 277-295, August.

  36. Valerie Cerra & Ugo Panizza & Sweta C. Saxena, 2013. "International Evidence On Recovery From Recessions," Contemporary Economic Policy, Western Economic Association International, vol. 31(2), pages 424-439, April.
    See citations under working paper version above.
  37. Salvatore Dell’Erba & Ricardo Hausmann & Ugo Panizza, 2013. "Debt levels, debt composition, and sovereign spreads in emerging and advanced economies," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 29(3), pages 518-547, AUTUMN.
    See citations under working paper version above.
  38. Ugo Panizza & Andrea F. Presbitero, 2013. "Public Debt and Economic Growth in Advanced Economies: A Survey," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(2), pages 175-204, June.
    See citations under working paper version above.
  39. Yeyati, Eduardo Levy & Panizza, Ugo, 2011. "The elusive costs of sovereign defaults," Journal of Development Economics, Elsevier, vol. 94(1), pages 95-105, January.
    See citations under working paper version above.
  40. Eichengreen, Barry & Gullapalli, Rachita & Panizza, Ugo, 2011. "Capital account liberalization, financial development and industry growth: A synthetic view," Journal of International Money and Finance, Elsevier, vol. 30(6), pages 1090-1106, October.
    See citations under working paper version above.
  41. Hausmann Ricardo & Panizza Ugo, 2011. "Redemption or Abstinence? Original Sin, Currency Mismatches and Counter Cyclical Policies in the New Millennium," Journal of Globalization and Development, De Gruyter, vol. 2(1), pages 1-35, August.
    See citations under working paper version above.
  42. Eduardo Borensztein & Ugo Panizza, 2010. "Do Sovereign Defaults Hurt Exporters?," Open Economies Review, Springer, vol. 21(3), pages 393-412, July.
    See citations under working paper version above.
  43. Dany Jaimovich & Ugo Panizza, 2010. "Public debt around the world: a new data set of central government debt," Applied Economics Letters, Taylor & Francis Journals, vol. 17(1), pages 19-24, January.
    See citations under working paper version above.
  44. Hajj, Mandana & Panizza, Ugo, 2009. "Religion and education gender gap: Are Muslims different?," Economics of Education Review, Elsevier, vol. 28(3), pages 337-344, June.
    See citations under working paper version above.
  45. Eduardo Borensztein & Ugo Panizza, 2009. "The Costs of Sovereign Default," IMF Staff Papers, Palgrave Macmillan, vol. 56(4), pages 683-741, November.
    See citations under working paper version above.
  46. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2009. "The Economics and Law of Sovereign Debt and Default," Journal of Economic Literature, American Economic Association, vol. 47(3), pages 651-698, September.

    Cited by:

    1. Mengus, E., 2014. "Honoring Sovereign Debt or Bailing Out Domestic Residents: A Theory of Internal Costs of Default," Working papers 480, Banque de France.
    2. Eduardo Borensztein & Ugo Panizza, 2010. "Do Sovereign Defaults Hurt Exporters?," Open Economies Review, Springer, vol. 21(3), pages 393-412, July.
    3. Cornand, Camille & Gandré, Pauline & Gimet, Céline, 2016. "Increase in home bias in the Eurozone debt crisis: The role of domestic shocks," Economic Modelling, Elsevier, vol. 53(C), pages 445-469.
    4. Mr. Keith Kuester & Mr. Gernot J. Mueller & Giancarlo Corsetti & Mr. Andre Meier, 2012. "Sovereign Risk, Fiscal Policy, and Macroeconomic Stability," IMF Working Papers 2012/033, International Monetary Fund.
    5. Haichao Fan & Xiang Gao, 2017. "Domestic Creditor Rights and External Private Debt," Economic Journal, Royal Economic Society, vol. 127(606), pages 2410-2440, November.
    6. Leszek Balcerowicz, 2010. "Sovereign Bankruptcy in the European Union in the Comparative Perspective," Working Paper Series WP10-18, Peterson Institute for International Economics.
    7. Juessen, Falko & Schabert, Andreas, 2013. "Fiscal Policy, Sovereign Default, and Bailouts," IZA Discussion Papers 7805, IZA Network @ LISER.
    8. Reinhard Neck & Dmitri Blueschke, 2014. "“Haircuts” for the EMU periphery: virtue or vice?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 41(2), pages 153-175, May.
    9. Claessens, Stijn & Kose, M. Ayhan, 2013. "Financial Crises: Explanations, Types, and Implications," CEPR Discussion Papers 9329, Centre for Economic Policy Research.
    10. Christophe Destais & Frederik Eidam & Friedrich Heinemann, 2019. "The design of a sovereign debt restructuring mechanism for the euro area: Choices and trade-offs," EconPol Policy Reports 11, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    11. Guimaraes, Bernardo & Iazdi, Oz, 2013. "IMF conditionalities, liquidity provision, and incentives for fiscal adjustment," MPRA Paper 48896, University Library of Munich, Germany.
    12. Pablo D'Erasmo & Enrique G. Mendoza, 2013. "Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default," NBER Working Papers 19477, National Bureau of Economic Research, Inc.
    13. Zongxin Qian & Qian Luo, 2016. "Regime-Dependent Determinants of China’s Sovereign Credit Default Swap Spread," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(1), pages 10-21, January.
    14. Meyer, Josefin & Reinhart, Carmen & Trebesch, Christoph, 2019. "Sovereign Bonds since Waterloo," CEPR Discussion Papers 13514, Centre for Economic Policy Research.
    15. Marc Flandreau, 2013. "Sovereign states, bondholders committees, and the London Stock Exchange in the nineteenth century (1827–68): new facts and old fictions," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 29(4), pages 668-696, WINTER.
    16. Randl, Otto & Zechner, Josef, 2016. "Sovereign reputation and yield spreads: A case study on retroactive legislation," CFS Working Paper Series 545, Center for Financial Studies (CFS).
    17. Immaculate Machasio, 2016. "Do Remittance Flows Stabilize Developing Countries in the aftermath of Sovereign Defaults?," MAGKS Papers on Economics 201639, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    18. Adam, Klaus, 2012. "Optimal Sovereign Default," CEPR Discussion Papers 9178, Centre for Economic Policy Research.
    19. Kevin P. Gallagher, 2025. "The international financial architecture and sustainable prosperity," WIDER Working Paper Series wp-2025-14, World Institute for Development Economic Research (UNU-WIDER).
    20. Cosmin Ilut & Peter Benczur, 2010. "Evidence for Relational Contracts in Sovereign Bank Lending," 2010 Meeting Papers 91, Society for Economic Dynamics.
    21. Guimarães, Bernardo de Vasconcellos & Ladeira, Carlos Eduardo de Almeida, 2015. "The determinants of IMF fiscal conditionalities: economics or politics?," Textos para discussão 391, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
    22. Cem Karayalcin & Harun Onder, 2019. "Incomplete integration and contagion of debt distress in economic unions," Economics and Politics, Wiley Blackwell, vol. 31(2), pages 194-215, July.
    23. Michael Tomz & Mark L. J. Wright, 2013. "Empirical Research on Sovereign Debt and Default," CAMA Working Papers 2013-16, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    24. Antonio Bassanetti & Carlo Cottarelli & Andrea F Presbitero, 2019. "Lost and found: market access and public debt dynamics," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 445-471.
    25. Carlos Eduardo Gonçalves & Bernardo Guimarães, 2012. "Sovereign default risk and commitment for fiscal adjustment," Working Papers, Department of Economics 2012_23, University of São Paulo (FEA-USP).
    26. Coffman, D'Maris & Stephenson, Judy Z. & Sussman, Nathan, 2020. "Financing the rebuilding of the City of London after the Great Fire of 1666," CEPR Discussion Papers 15471, Centre for Economic Policy Research.
    27. Diniz, Andre & Guimaraes, Bernardo, 2017. "How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies," LSE Research Online Documents on Economics 86169, London School of Economics and Political Science, LSE Library.
    28. Davide Furceri & Ms. Aleksandra Zdzienicka, 2011. "How Costly Are Debt Crises?," IMF Working Papers 2011/280, International Monetary Fund.
    29. Forni, L. & Pisani, M., 2018. "Sovereign Restructuring Vs. Fiscal Adjustment In A Monetary Union: Macroeconomic Effects From Model-Based Simulations," Macroeconomic Dynamics, Cambridge University Press, vol. 22(2), pages 470-500, March.
    30. Shaina Potts, 2020. "(Re-)writing markets: Law and contested payment geographies," Environment and Planning A, , vol. 52(1), pages 46-65, February.
    31. Joost Rцttger, 2014. "Monetary and Fiscal Policy with Sovereign Default," Working Paper Series in Economics 74, University of Cologne, Department of Economics.
    32. Silvia Marchesi & Tania Masi, 2019. "Sovereign risk after sovereign restructuring. Private and official default," Working Papers 423, University of Milano-Bicocca, Department of Economics, revised Nov 2019.
    33. Stephanie Collet & Kim Oosterlinck, 2019. "Denouncing Odious Debts," Journal of Business Ethics, Springer, vol. 160(1), pages 205-223, November.
    34. Serhan Cevik & João Tovar Jalles, 2022. "An Apocalypse Foretold: Climate Shocks and Sovereign Defaults," Open Economies Review, Springer, vol. 33(1), pages 89-108, February.
    35. Takefumi Yamazaki, 2018. "Accuracy and speed of the solution methods for sovereign default models: The stable performance of the Tauchen method and cubic spline interpolation," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 14(4), pages 641-662, July.
    36. Mita Bhattacharya & John Inekwe, 2021. "Convergence in Sovereign Debt Defaults: Quantifying the Roles of Institutions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(3), pages 792-811, June.
    37. Juan J. Cruces & Christoph Trebesch, 2011. "Sovereign Defaults: The Price of Haircuts," CESifo Working Paper Series 3604, CESifo.
    38. Makram El‐Shagi & Gregor von Schweinitz, 2022. "Why they keep missing: An empirical investigation of sovereign bond ratings and their timing," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(2), pages 186-224, May.
    39. Matthias Schlegl & Christoph Trebesch & Mark L. J. Wright, 2019. "The seniority structure of sovereign debt," CESifo Working Paper Series 7632, CESifo.
    40. Corsetti, Giancarlo & Kuester, Keith & Meier, André & Müller, Gernot J., 2014. "Sovereign risk and belief-driven fluctuations in the euro area," Journal of Monetary Economics, Elsevier, vol. 61(C), pages 53-73.
    41. Andrea Papadia & Claudio Schioppa, 2020. "Foreign Debt, Capital Controls, and Secondary Markets: Theory and Evidence from Nazi Germany," Working Papers ECARES 2020-36, ULB -- Universite Libre de Bruxelles.
    42. Hur, Sewon & Kondo, Illenin O., 2016. "A theory of rollover risk, sudden stops, and foreign reserves," Journal of International Economics, Elsevier, vol. 103(C), pages 44-63.
    43. Gopinath, Gita & Meyer, Josefin & Reinhart, Carmen M. & Trebesch, Christoph, 2025. "Sovereign vs. corporate debt and default: More similar than you think," Kiel Working Papers 2285, Kiel Institute for the World Economy.
    44. Marchesi, Silvia & Masi, Tania, 2020. "Sovereign rating after private and official restructuring," Economics Letters, Elsevier, vol. 192(C).
    45. Muzammil, Muhammad, 2020. "A Comparison of Agricultural, Industrial and Services Sector Impact on Trade Balance: A Case Study of Pakistan," MPRA Paper 95750, University Library of Munich, Germany.
    46. Valiante, Diego, 2011. "The Eurozone Debt Crisis: From its origins to a way forward," CEPS Papers 5985, Centre for European Policy Studies.
    47. Rafaqat Islam & Sarfraz Hussain Ansari & Shahzad Hussain, 2018. "Foreign Debt and its Implications for Pakistan9apos9s National Security," Global Regional Review, Humanity Only, vol. 3(1), pages 107-127, June.
    48. Eduardo Fernandez-Arias, 2010. "Multilateral Safety Nets for Financial Crises," Research Department Publications 4668, Inter-American Development Bank, Research Department.
    49. Ceyhun Elgin & Burak R. Uras, 2012. "Public Debt, Sovereign Default Risk and Shadow Economy," Working Papers 2012/10, Bogazici University, Department of Economics.
    50. Filippo Brutti & Philip Sauré, 2016. "Repatriation Of Debt In The Euro Crisis," Journal of the European Economic Association, European Economic Association, vol. 14(1), pages 145-174, February.
    51. Michael D. Bordo & Christopher M. Meissner, 2016. "Fiscal and Financial Crises," NBER Working Papers 22059, National Bureau of Economic Research, Inc.
    52. Agliardi, Elettra & Pinar, Mehmet & Stengos, Thanasis, 2014. "A sovereign risk index for the Eurozone based on stochastic dominance," Finance Research Letters, Elsevier, vol. 11(4), pages 375-384.
    53. Filippo Brutti & Philip U. Sauré, 2014. "Repatriation of Debt in the Euro Crisis: Evidence for the Secondary Market Theory," Working Papers 2014-03, Swiss National Bank.
    54. Carlo de Bassa Scheresberg, Francesco Passarelli, 2011. "Strategic Sovereign Defaults under International Sanctions," ISLA Working Papers 42, ISLA, Centre for research on Latin American Studies and Transition Economies, Universita' Bocconi, Milano, Italy.
    55. Yeyati, Eduardo Levy & Panizza, Ugo, 2011. "The elusive costs of sovereign defaults," Journal of Development Economics, Elsevier, vol. 94(1), pages 95-105, January.
    56. Bindseil, Ulrich & Gulati, Mitu, 2026. "Foreign bonds, territorial change and repudiation: The Silesian Bonds saga," IBF Paper Series 01-26, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
    57. Michal Szkup, 2015. "Preventing Self-Fulfilling Crises," 2015 Meeting Papers 1144, Society for Economic Dynamics.
    58. Hausmann Ricardo & Panizza Ugo, 2011. "Redemption or Abstinence? Original Sin, Currency Mismatches and Counter Cyclical Policies in the New Millennium," Journal of Globalization and Development, De Gruyter, vol. 2(1), pages 1-35, August.
    59. Diniz, Andre & Guimaraes, Bernardo, 2014. "Financial disruption as a cost of sovereign default: a quantitative assessment," LSE Research Online Documents on Economics 86329, London School of Economics and Political Science, LSE Library.
    60. Carlos Eduardo Gonçalves & Bernardo Guimaraes, 2012. "Optimal fiscal adjustment and the commitment-to-forgive issue," Working Papers, Department of Economics 2012_01, University of São Paulo (FEA-USP).
    61. Christoph A. Schaltegger & Martin Weder, 2013. "Fiscal Adjustments and the Probability of Sovereign Default," CREMA Working Paper Series 2013-06, Center for Research in Economics, Management and the Arts (CREMA).
    62. Bofinger, Peter & Ried, Stefan, 2010. "A new framework for fiscal policy consolidation in Europe," Working Papers 03/2010, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.
    63. Francesca Caselli & Matilde Faralli & Paolo Manasse & Ugo Panizza, 2021. "On the Benefits of Repaying," Working Papers wp1163, Dipartimento Scienze Economiche, Universita' di Bologna.
    64. Bassa, Karolina & Cont, Rama, 2025. "Dynamics of sovereign debt: credit risk and sustainability analysis," INET Oxford Working Papers 2025-24, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    65. Marchesi, Silvia & Marcolongo, Giovanna, 2025. "Knockin’ on H(e)aven’s door. Financial crises and offshore wealth," Journal of International Economics, Elsevier, vol. 158(C).
    66. Jean-Marc Fournier & Manuel Bétin, 2018. "Limits to government debt sustainability in middle-income countries," OECD Economics Department Working Papers 1493, OECD Publishing.
    67. Cusato Novelli, Antonio & Barcia, Giancarlo, 2021. "Sovereign Risk, Public Investment and the Fiscal Policy Stance," Journal of Macroeconomics, Elsevier, vol. 67(C).
    68. Pablo D'Erasmo & Enrique G. Mendoza, 2018. "History Remembered: Optimal Sovereign Default on Domestic and External Debt," NBER Working Papers 25073, National Bureau of Economic Research, Inc.
    69. Dähler, Timo, 2020. "Bias or ignorance? The politics and economics behind sovereign credit ratings," MPRA Paper 103965, University Library of Munich, Germany.
    70. Martín Guzmán, 2015. "In the quest of a Framework for Sovereign Debt Restructuring," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2015-7, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    71. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2021. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of a Default," Development Working Papers 475, Centro Studi Luca d'Agliano, University of Milano.
    72. Orkun Saka, 2019. "Domestic Banks as Lightning Rods? Home Bias and Information during the Eurozone Crisis," CESifo Working Paper Series 7939, CESifo.
    73. Hongsheng Lin & Yingjia Hu, 2025. "Does Local Government Debt Reduce Urban Economic Inequality? Evidence from Chinese Cities," Sustainability, MDPI, vol. 17(16), pages 1-20, August.
    74. Mr. Luis Catão & Rui Mano, 2015. "Default Premium," IMF Working Papers 2015/167, International Monetary Fund.
    75. John Inekwe, 2018. "Financial crises and the extreme bounds of predictors," Empirical Economics, Springer, vol. 55(4), pages 2047-2067, December.
    76. Enrique Mendoza, 2017. "Optimal Domestic (and External) Sovereign Default," 2017 Meeting Papers 279, Society for Economic Dynamics.
    77. Ratha, Dilip & De, Supriyo & Kurlat, Sergio, 2018. "Does governing law affect bond spreads?," Emerging Markets Review, Elsevier, vol. 36(C), pages 60-78.
    78. Jitendra Kumar Chaurasiya & Bhanu Pratap Singh & Sujit Kumar, 2025. "Do institutional settings condition the effect of macroprudential policies on sovereign default risk? Cross-country evidence," Economic Change and Restructuring, Springer, vol. 58(3), pages 1-60, June.
    79. Kirsch, Florian & Rühmkorf, Ronald, 2013. "Sovereign Borrowing, Financial Assistance and Debt Repudiation," Bonn Econ Discussion Papers 01/2013, University of Bonn, Bonn Graduate School of Economics (BGSE).
    80. Trebesch, Christoph & Zabel, Michael, 2016. "The Output Costs of Hard and Soft Sovereign Default," CEPR Discussion Papers 11582, Centre for Economic Policy Research.
    81. El-Shagi, Makram & von Schweinitz, Gregor, 2017. "Why they keep missing: An empirical investigation of rational inattention of rating agencies," IWH Discussion Papers 1/2017, Halle Institute for Economic Research (IWH), revised 2017.
    82. Debrun, Xavier & Ostry, Jonathan D. & Willems, Tim & Wyplosz, Charles, 2019. "Public Debt Sustainability," CEPR Discussion Papers 14010, Centre for Economic Policy Research.
    83. Jean-Marc Fournier & Manuel Bétin, 2018. "Sovereign defaults: Evidence on the importance of government effectiveness," OECD Economics Department Working Papers 1494, OECD Publishing.
    84. Niepelt, Dirk, 2014. "Debt maturity without commitment," Journal of Monetary Economics, Elsevier, vol. 68(S), pages 37-54.
    85. Horn, Fabian, 2015. "Quantifying the costs of sovereign defaults using odious debt cases as a quasi-natural experiment," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113125, Verein für Socialpolitik / German Economic Association.
    86. Paola Di Casola & Spyridon Sichlimiris, 2025. "Domestic And External Sovereign Debt," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(3), pages 1207-1238, August.
    87. Joanna Dreger, 2012. "Why Is Sovereign Debt Restructuring a Challenge? The Case of Greece," Bruges European Economic Policy Briefings 24, European Economic Studies Department, College of Europe.
    88. Juan Carlos Hatchondo & Leonardo Martinez & Cesar Sosa Padilla, 2013. "Voluntary Sovereign Debt Exchanges," Department of Economics Working Papers 2013-13, McMaster University.
    89. César Martín Machuca, 2017. "External stress early warning indicators," Working Papers 1733, Banco de España.
    90. Mr. Luis Catão & Mr. Gian M Milesi-Ferretti, 2013. "External Liabilities and Crises," IMF Working Papers 2013/113, International Monetary Fund.
    91. Chuku Chuku & Alexandre Kopoin, 2022. "Working Paper 367 - Debt Distress and Recovery Episodes in Africa: Good Policy or Good Luck?," Working Paper Series 2493, African Development Bank.
    92. Ugo PANIZZA, 2015. "Debt Sustainability in Low-Income Countries - The Grants versus Loans Debate in a World without Crystal Balls," Working Papers P120, FERDI.
    93. Paczos, Wojtek & Shakhnov, Kirill, 2022. "Defaulting on Covid debt," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
    94. Gehring, Kai & Lang, Valentin, 2020. "Stigma or cushion? IMF programs and sovereign creditworthiness," Journal of Development Economics, Elsevier, vol. 146(C).
    95. Kiyoung Jeon & Zeynep Yom, 2016. "Income Inequality and Sovereign Default," Villanova School of Business Department of Economics and Statistics Working Paper Series 29, Villanova School of Business Department of Economics and Statistics.
    96. Angelo Baglioni, 2015. "Leveraged Buybacks Of Sovereign Debt: A Model And An Application To Greece," Contemporary Economic Policy, Western Economic Association International, vol. 33(1), pages 87-103, January.
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    99. Garay, Urbi & González, Maximiliano & Rosso, John, 2019. "Country and industry effects in corporate bond spreads in emerging markets," Journal of Business Research, Elsevier, vol. 102(C), pages 191-200.
    100. Michal Szkup, 2022. "Preventing Self-Fulfilling Debt Crises: A Global Games Approach," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 22-55, January.
    101. Flores Zendejas, Juan, 2015. "Capital Markets and Sovereign Defaults: A Historical Perspective," Working Papers unige:73325, University of Geneva, Paul Bairoch Institute of Economic History.
    102. Taurai Muvunza & Yong Jiang, 2023. "Determinants and hedging effectiveness of China's sovereign credit default swaps," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(2), pages 2074-2087, April.
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    112. Ugo Panizza, 2014. "Public Debt Risks in Italy Myths, Facts, and Policies," IHEID Working Papers 13-2014, Economics Section, The Graduate Institute of International Studies, revised 12 Feb 2014.
    113. Wei Huang & Shu Lin & Jian Yang, 2019. "Institutional quality and sovereign credit default swap spreads," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 39(6), pages 686-703, June.
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    115. Silvia Marchesi & Tania Masi, 2017. "Life after default: Private vs. official sovereign debt restructurings," Working Papers 370, University of Milano-Bicocca, Department of Economics, revised Feb 2019.
    116. Eduardo Borensztein & Ugo Panizza, 2009. "The Costs of Sovereign Default," IMF Staff Papers, Palgrave Macmillan, vol. 56(4), pages 683-741, November.
    117. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2024. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of Private or Official Debt Restructurings," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(1), pages 292-334, March.
    118. Karatas, B., 2014. "Financial crisis and monetary policy," Other publications TiSEM 41e463f0-e122-4379-8db5-6, Tilburg University, School of Economics and Management.
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    120. Kursat Onder, Yasin, 2016. "Asset backed contracts and sovereign risk," Journal of Economic Behavior & Organization, Elsevier, vol. 132(C), pages 237-252.
    121. Kartik Anand & Prasanna Gai, 2019. "Pre-emptive sovereign debt restructuring and holdout litigation," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 364-381.
    122. Collard, Fabrice & Habib, Michel & Rochet, Jean Charles, 2016. "The Reluctant Defaulter: A Tale of High Government Debt," CEPR Discussion Papers 11299, Centre for Economic Policy Research.
    123. Enderlein, Henrik & Trebesch, Christoph & von Daniels, Laura, 2012. "Sovereign debt disputes: A database on government coerciveness during debt crises," Journal of International Money and Finance, Elsevier, vol. 31(2), pages 250-266.
    124. Maria Pascal (Andriescu), 2012. "An Overview on Sovereign Debt Evolution in the World," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1582-1587, May.
    125. Herman Barry, 2016. "A Role for Legitimacy in Sovereign Debt: A Review Essay on Odette Lienau, Rethinking Sovereign Debt, 2014," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 6(3), pages 219-241, December.
    126. Szkup, Michal, 2017. "Preventing Self-fulfilling debt crises," MPRA Paper 82754, University Library of Munich, Germany.
    127. Eggert Wolfgang & Stephan Maximilian & von Ungern-Sternberg Handirk, 2016. "Eine Analyse polit-ökonomischer Probleme bei Staatsumschuldungen," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 65(2), pages 157-176, August.
    128. Silvia Marchesi & Tania Masi, 2020. "Life after default. Private and Official Deals," Working Papers 431, University of Milano-Bicocca, Department of Economics, revised Feb 2020.
    129. Flores Zendejas, Juan, 2020. "Explaining latin america's persistent defaults: an analysis of debtor-creditor relations in London, 1822-1914," Working Papers unige:140134, University of Geneva, Paul Bairoch Institute of Economic History.
    130. Tamon Asonuma & Mike Xin Li & Saji Thomas & Michael G. Papaioannou & Eriko Togo, 2018. "Sustainability and Equity Challenges to Pension Systems: The Case of Lebanon," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(10), pages 67-106, December.
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    163. Guido Sandleris, 2015. "The Costs of Sovereign Defaults:Theory and Empirical Evidence," Business School Working Papers 2015-02, Universidad Torcuato Di Tella.
    164. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2010. "International Government Debt," Business School Working Papers 2010-03, Universidad Torcuato Di Tella.
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    171. Agatha Nkem Amadi & Isaac Azubuike Ogbuji & Hope Agbonrofo, 2020. "The Maturity and Repayment Structure of Sovereign Debt: Implications for Development Agenda in Nigeria," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(1), pages 115-120, March.
    172. Giampaolo Gabbi & Alesia Kalbaska & Alessandro Vercelli, 2014. "Factors generating and transmitting the financial crisis: The role of incentives: securitization and contagion," Working papers wpaper56, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
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    175. Andrew Primmer, 2025. "Mismanagement amid resource abundance: Sovereign risk, private sector credit rationing, and economic stagnation in Colombia, 1861‒98," Economic History Review, Economic History Society, vol. 78(4), pages 1118-1150, November.
    176. Andrea Vismara & Rafael Prieto-Curiel & Rosie Hayward, 2026. "Debt relief and remittances can offset foreign aid cuts for most countries, but some remain locked out," Papers 2608.21843, arXiv.org.
    177. Schäfer Hans-Bernd & Bigus Jochen, 2016. "Consequences of Different Eurobond Proposals," Review of Law & Economics, De Gruyter, vol. 12(3), pages 523-553, November.
    178. D. Blueschke & R. Neck & A. Wittmann, 2020. "How relieving is public debt relief? Monetary and fiscal policies in a monetary union during a debt crisis," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 28(2), pages 539-559, June.
    179. Acharya, Viral V. & Rajan, Raghuram G. & Shim, Jack B., 2024. "Sovereign debt and economic growth when government is myopic and self-interested," Journal of International Economics, Elsevier, vol. 150(C).
    180. Michael Bleaney & Veronica Veleanu, 2017. "Currency risk in corporate bond spreads in the eurozone," Discussion Papers 2017/07, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    181. Markus Jorra, 2011. "The Heterogeneity of Default Costs: Evidence from Recent Sovereign Debt Crises," MAGKS Papers on Economics 201151, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    182. Ka Lok Wong (Steve) & Mark Manger & Ugo Panizza, 2026. "Determinants of Sovereign Bond Issuance in Emerging Markets," IHEID Working Papers 06-2026, Economics Section, The Graduate Institute of International Studies.
    183. Tamon Asonuma & Marcos Chamon & Aitor Erce & Akira Sasahara, 2019. "Costs of sovereign defaults: Restructuring strategies, bank distress and the capital inflow-credit channel," Working Papers 37, European Stability Mechanism.
    184. Alexander W. Cappelen & Rune Jansen Hagen & Erik Ø. Sørensen & Bertil Tungodden, 2014. "Do Non-Enforceable Contracts Matter? Evidence from an International Lab Experiment," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(1), pages 100-113, March.
    185. Ugo Panizza, 2013. "Guest Workers: Financial Development and Economic Growth: Known Knowns, Known Unknowns, and Unknown Unknowns," IHEID Working Papers 13-2013, Economics Section, The Graduate Institute of International Studies.
    186. Papadia, Andrea, 2017. "Sovereign defaults during the Great Depression: the role of fiscal fragility," Economic History Working Papers 68943, London School of Economics and Political Science, Department of Economic History.
    187. Alessandro Dovis, 2013. "Efficient Sovereign Default," 2013 Meeting Papers 293, Society for Economic Dynamics.
    188. Müller, Andreas & Storesletten, Kjetil & Zilibotti, Fabrizio, 2015. "Sovereign Debt and Structural Reforms," CEPR Discussion Papers 10588, Centre for Economic Policy Research.
    189. Roberto Savona & Marika Vezzoli, 2012. "Multidimensional Distance‐To‐Collapse Point And Sovereign Default Prediction," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 19(4), pages 205-228, October.
    190. Silvia, Marchesi, 2015. "The cost of default: private vs. official sovereign debt restructurings," Working Papers 320, University of Milano-Bicocca, Department of Economics, revised 28 Dec 2015.
    191. Marco Committeri & Francesco Spadafora, 2013. "You never give me your money? Sovereign debt crises, collective action problems, and IMF lending," Questioni di Economia e Finanza (Occasional Papers) 143, Bank of Italy, Economic Research and International Relations Area.
    192. Heinemann, Friedrich, 2021. "The political economy of euro area sovereign debt restructuring," ZEW Discussion Papers 21-004, ZEW - Leibniz Centre for European Economic Research.
    193. Nikolai Stähler, 2013. "Recent Developments In Quantitative Models Of Sovereign Default," Journal of Economic Surveys, Wiley Blackwell, vol. 27(4), pages 605-633, September.
    194. Vidovics-Dancs, Ágnes, 2014. "Az államcsőd költségei régen és ma [Costs of sovereign defaults now and long ago]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 262-278.
    195. Toan Phan, 2016. "Information, Insurance and the Sustainability of Sovereign Debt," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 22, pages 93-108, October.
    196. Shazia Ghani, 2011. "Is this all "Greek" in Europe ? Critical evaluation of the Euro zone policy response to debt crises," Post-Print halshs-00638723, HAL.
    197. Peters Heiko & Ried Stefan & Schwarz Peter, 2011. "Krisenreaktion und Krisenprävention im Euro-Raum: Wandel zum Besseren? / Crisis Mangement and Prevention for the Eurozone: A Change for the Better?," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 62(1), pages 3-28, January.
    198. Anna Gelpern & Ugo Panizza, 2022. "Enough Potential Repudiation: Economic and Legal Aspects of Sovereign Debt in the Pandemic Era," IHEID Working Papers 09-2022, Economics Section, The Graduate Institute of International Studies.
    199. Patrick Bolton & Haizhou Huang, 2018. "The Capital Structure of Nations [Welfare analysis of currency regimes with defaultable debts]," Review of Finance, European Finance Association, vol. 22(1), pages 45-82.
    200. Calomiris, Charles W. & Tsoulouhas, Theofanis, 2022. "Bailing out conflicted sovereigns," Journal of Financial Intermediation, Elsevier, vol. 51(C).
    201. Miroslava Kostova Karaboytcheva & Carolina Silva Cassorla, 2015. "The shadow economy: a relevant factor for investment decisions in selected European Union countries," Financial Theory and Practice, Institute of Public Finance, vol. 39(3), pages 305-323.
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  47. Levy Yeyati, Eduardo & Panizza, Ugo & Stein, Ernesto, 2007. "The cyclical nature of North-South FDI flows," Journal of International Money and Finance, Elsevier, vol. 26(1), pages 104-130, February.
    See citations under working paper version above.
  48. Micco, Alejandro & Panizza, Ugo & Yanez, Monica, 2007. "Bank ownership and performance. Does politics matter?," Journal of Banking & Finance, Elsevier, vol. 31(1), pages 219-241, January.
    See citations under working paper version above.
  49. Eduardo Levy-Yeyat & Alejandro Micco & Ugo Panizza, 2007. "A Reappraisal of State-Owned Banks," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Spring 20), pages 209-259.
    See citations under working paper version above.
  50. Hausmann, Ricardo & Panizza, Ugo & Rigobon, Roberto, 2006. "The long-run volatility puzzle of the real exchange rate," Journal of International Money and Finance, Elsevier, vol. 25(1), pages 93-124, February.
    See citations under working paper version above.
  51. Micco, Alejandro & Panizza, Ugo, 2006. "Bank ownership and lending behavior," Economics Letters, Elsevier, vol. 93(2), pages 248-254, November.
    See citations under working paper version above.
  52. Campos, Camila F.S. & Jaimovich, Dany & Panizza, Ugo, 2006. "The unexplained part of public debt," Emerging Markets Review, Elsevier, vol. 7(3), pages 228-243, September.
    See citations under working paper version above.
  53. Loboguerrero Ana Maria & Panizza Ugo, 2006. "Does Inflation Grease the Wheels of the Labor Market?," The B.E. Journal of Macroeconomics, De Gruyter, vol. 6(1), pages 1-28, October.

    Cited by:

    1. Pierpaolo Benigno & Luca Antonio Ricci, 2011. "The Inflation-Output Trade-Off with Downward Wage Rigidities," American Economic Review, American Economic Association, vol. 101(4), pages 1436-1466, June.
    2. Pierpaolo Benigno & Luca Antonio Ricci, 2008. "The Inflation-Unemployment Trade-Off at Low Inflation," NBER Working Papers 13986, National Bureau of Economic Research, Inc.
    3. Branten, Eva & Lamo, Ana & Rõõm, Tairi, 2018. "Nominal wage rigidity in the EU countries before and after the Great Recession: evidence from the WDN surveys," Working Paper Series 2159, European Central Bank.
    4. Joel Wagner, 2018. "Downward nominal wage rigidity in Canada: Evidence against a “greasing effect”," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(3), pages 1003-1028, August.

  54. Panizza, Ugo & Qiang, Christine Zhen-Wei, 2005. "Public-private wage differential and gender gap in Latin America: Spoiled bureaucrats and exploited women?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 34(6), pages 810-833, December.

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    1. Jakub Picka, 2014. "Problém "public-private pay gap" v České republice [The Public-Private Pay Gap in the Czech Republic]," Politická ekonomie, Prague University of Economics and Business, vol. 2014(5), pages 662-682.
    2. Glomm Gerhard & Jung Juergen & Lee Changmin & Tran Chung, 2010. "Public Sector Pension Policies and Capital Accumulation in an Emerging Economy: The Case of Brazil," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-40, June.
    3. Canavire Bacarreza, Gustavo J. & Carvajal-Osorio, Luis C., 2018. "Two Stories of Wage Dynamics in Latin America: Different Policies, Different Outcomes," IZA Discussion Papers 11584, IZA Network @ LISER.
    4. Lixin Cai & Amy Y.C. Liu, 2008. "Public-Private Wage Gap in Australia: Variation Along the Distribution," CEPR Discussion Papers 581, Centre for Economic Policy Research, Research School of Economics, Australian National University.
    5. Mohamed Amara & Wajih Khallouli & Faicel Zidi, 2024. "Public–private wage differentials in Tunisia: Consistency and decomposition," LABOUR, CEIS, vol. 38(3), pages 295-330, September.
    6. Gabriela Miranda Moriconi & João S. Moura Neto & Nelson Marconi & Paulo Roberto Arvate, 2006. "Evidências Sobre O Comportamento Dos Governos Estaduais Na Determinação Dos Salários Dos Servidores Públicos No Brasil," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 135, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    7. Nopo, Hugo R. & Atal, Juan Pablo & Winder, Natalia, 2010. "New Century, Old Disparities: Gender and Ethnic Wage Gaps in Latin America," IZA Discussion Papers 5085, IZA Network @ LISER.
    8. Gonzalo F. Forgues‐Puccio & Erven Lauw, 2021. "Gender inequality, corruption, and economic development," Review of Development Economics, Wiley Blackwell, vol. 25(4), pages 2133-2156, November.
    9. Mizala, Alejandra & Romaguera, Pilar & Gallegos, Sebastián, 2011. "Public–private wage gap in Latin America (1992–2007): A matching approach," Labour Economics, Elsevier, vol. 18(S1), pages 115-131.
    10. Narcy, Mathieu & Lanfranchi, Joseph & Meurs, Dominique, 2008. "Do women choose to work in the public and nonprofit sectors? Empirical evidence from a French national survey," MPRA Paper 14372, University Library of Munich, Germany.
    11. Gindling, T.H. & Hasnain, Zahid & Newhouse, David & Shi, Rong, 2020. "Are public sector workers in developing countries overpaid? Evidence from a new global dataset," World Development, Elsevier, vol. 126(C).
    12. Medeiros, Marcelo & Souza, Pedro H.G.F., 2013. "The State and income inequality in Brazil," Institute for Research on Labor and Employment, Working Paper Series qt584222f0, Institute of Industrial Relations, UC Berkeley.
    13. Gerhard Glomm & Juergen Jung & Changmin Lee & Chung Tran, 2009. "Public Sector Pension Policies and Capital Accumulation in Emerging Economies," Discussion Papers 2009-10, School of Economics, The University of New South Wales.
    14. Minas Vlassis & Polyxeni Gioti, 2020. "A two-period unionized mixed oligopoly model: public–private wage differentials and “Eurosclerosis” reconsidered," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 47(2), pages 283-309, June.
    15. Ricardo Hausmann & Ljubica Nedelkoska & Sehar Noor, 2020. "You Get What You Pay For: Sources and Consequences of the Public Sector Premium in Albania and Sri Lanka," Growth Lab Working Papers 153, Harvard's Growth Lab.
    16. Jesús Otero & Luis Fernando Gamboa & Andrés García-Suaza, 2011. "An analysis of the relationship between wages in the public and private sector in colombia: a panel data approach," Documentos de Trabajo 8738, Universidad del Rosario.
    17. Sarullo, Nicolas & Gorodnichenko, Yuriy & Deryugina, Tatyana & Hodson, James & Sologoub, Ilona & Fedyk, Anastassia, 2026. "Measuring corruption from household income and consumption micro-data: An international perspective," Economic Modelling, Elsevier, vol. 160(C).
    18. José-Ignacio Antón & Rafael Grande & Rafael Muñoz de Bustillo & Fernando Pinto, 2023. "Gender Gaps in Working Conditions," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 166(1), pages 53-83, February.
    19. Hospido, Laura & Moral-Benito, Enrique, 2014. "The Public Sector Wage Premium in Spain: Evidence from Longitudinal Administrative Data," IZA Discussion Papers 8315, IZA Network @ LISER.
    20. Sayın San & Özgür Polat, 2012. "Estimation of Public–Private Wage Differentials in T urkey with Sample Correction," The Developing Economies, Institute of Developing Economies, vol. 50(3), pages 285-298, September.
    21. Van‐Phuc Phan & Martin O'Brien, 2025. "Is There a Public Sector Wage Premium in Vietnam? New Evidence From the Vietnam Household Living Standard Survey," Australian Economic Papers, Wiley Blackwell, vol. 64(3), pages 345-355, September.
    22. Erendira Leon Bravo, . "Three essays on education, wages, and the labour market in Mexico," Economics PhD Theses, Department of Economics, University of Sussex Business School, number 0322, December.
    23. Sehnbruch, Kirsten & González, Pablo & Apablaza, Mauricio & Méndez, Rocío & Arriagada, Verónica, 2020. "The Quality of Employment (QoE) in nine Latin American countries: A multidimensional perspective," World Development, Elsevier, vol. 127(C).
    24. Terra, Cristina, 2009. "Comment," LSE Research Online Documents on Economics 123178, London School of Economics and Political Science, LSE Library.
    25. Minas Vlassis & Polyxeni Gioti, 2018. "A Two-Period Unionized Mixed Oligopoly Model: Public-Private Wage Differentials and “Eurosclerosis†Reconsidered," Working Papers 1802, University of Crete, Department of Economics.
    26. Coppola, Andrea & Calvo-Gonzalez, Oscar, 2011. "Higher wages, lower pay : public vs. private sector compensation in Peru," Policy Research Working Paper Series 5858, The World Bank.
    27. Tansel, Aysit & Keskin, Halil Ibrahim & Ozdemir, Zeynel Abidin, 2020. "Public-private sector wage gap by gender in Egypt: Evidence from quantile regression on panel data, 1998–2018," World Development, Elsevier, vol. 135(C).
    28. Alejandra Mizala & Pilar Romaguera & Sebastian Gallegos, 2010. "Public-Private Wage Gap In Latin America (1999-2007): A Matching Approach," Documentos de Trabajo 268, Centro de Economía Aplicada, Universidad de Chile.
    29. Scartascini, Carlos & Zamora, Paula, 2026. "Increasing responsiveness of civil servants. A field experiment on freedom of information compliance," World Development, Elsevier, vol. 204(C).
    30. Gabriela Miranda & Nelson Marconi, 2008. "Os salários dos professores públicos são atrativos no Brasil?," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807211605210, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    31. Glomm, Gerhard & Jung, Juergen & Tran, Chung, 2009. "Macroeconomic implications of early retirement in the public sector: The case of Brazil," Journal of Economic Dynamics and Control, Elsevier, vol. 33(4), pages 777-797, April.
    32. Paul Carrillo & Néstor Gandelman & Virginia Robano, 2014. "Sticky floors and glass ceilings in Latin America," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 12(3), pages 339-361, September.
    33. Paweł Strawiński & Agnieszka Skierska, 2016. "Public–private gap along the wage distribution in Poland," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 44.
    34. Tania Masi & Roberto Ricciuti, 2026. "Natural Resources, Democracy, and Labour-Market Outcomes in the Public Sector," CESifo Working Paper Series 12973, CESifo.
    35. Hadas Mandel & Moshe Semyonov, 2014. "Gender Pay Gap and Employment Sector: Sources of Earnings Disparities in the United States, 1970–2010," Demography, Springer;Population Association of America (PAA), vol. 51(5), pages 1597-1618, October.
    36. Spinesi, Luca, 2009. "Rent-seeking bureaucracies, inequality, and growth," Journal of Development Economics, Elsevier, vol. 90(2), pages 244-257, November.

  55. Panizza, Ugo & Yanez, Monica, 2005. "Why are Latin Americans so unhappy about reforms?," Journal of Applied Economics, Universidad del CEMA, vol. 8(01), pages 1-29, May.
    See citations under working paper version above.
  56. Alejandro Gavira & Ugo Panizza & Jessica Seddon & Ernesto Stein, 2004. "Political Institutions and Growth Collapses," Revista Latinoamericana de Desarrollo Economico, Carrera de Economía de la Universidad Católica Boliviana (UCB), issue 2, pages 11-32.
    See citations under working paper version above.
  57. Alejandro Gavira & Ugo Panizza & Jessica Seddon Wallack, 2004. "Economic, Social and Demographic Determinants of Political Participation in Latin America; Evidence from the 1990s," Revista Latinoamericana de Desarrollo Economico, Carrera de Economía de la Universidad Católica Boliviana (UCB), issue 3, pages 151-182.

    Cited by:

    1. Campante, Filipe R. & Ferreira, Francisco H.G., 2007. "Inefficient lobbying, populism and oligarchy," Journal of Public Economics, Elsevier, vol. 91(5-6), pages 993-1021, June.
    2. Jose Cuesta, 2013. "Theory and Empirics of Democracy and Crime Revisited: How Much Further Can We Go with Existing Data and Methodologies?," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(3), pages 645-674, July.

  58. Eduardo Lora & Ugo Panizza & Myriam Quispe-Agnoli, 2004. "Reform fatigue: symptoms, reasons, and implications," Economic Review, Federal Reserve Bank of Atlanta, vol. 89(Q 2), pages 1-28.

    Cited by:

    1. Birdsall, Nancy & de la Torre, Augusto & Caicedo, Felipe Valencia, 2010. "The Washington consensus : assessing a damaged brand," Policy Research Working Paper Series 5316, The World Bank.
    2. Ahmed, Syed & Horner, James & Rafiq, Rafiqul Bhuyan, 2008. "Financial Development and Economic Growth: Experiences of Selected Developing Economies," Review of Applied Economics, Lincoln University, Department of Financial and Business Systems, vol. 4(01-2), pages 1-18.
    3. Alvaro Cuervo-Cazurra & Luis Alfonso Dau, 2009. "Structural Reform and Firm Exports," Management International Review, Springer, vol. 49(4), pages 479-507, September.
    4. Ablam Estel Apeti & Kwamivi Mawuli Gomado, 2025. "International monetary fund conditionality and structural reforms: Evidence from developing countries," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 33(2), pages 439-486, April.
    5. Mariano Tommasi & Alvaro Forteza & German Herrera, 2005. "Understanding Reform in Latin America," Working Papers 88, Universidad de San Andres, Departamento de Economia, revised Dec 2005.
    6. Campos, Nauro & Kinoshita, Yuko, 2008. "Foreign Direct Investment and Structural Reforms: Evidence from Eastern Europe and Latin America," CEPR Discussion Papers 6690, Centre for Economic Policy Research.
    7. Haaparanta, Pertti & Pirttila, Jukka, 2007. "Reforms and confidence," Journal of Development Economics, Elsevier, vol. 84(1), pages 534-550, September.
    8. Eduardo Lora & Mauricio Olivera, 2005. "The Electoral Consequences of the Washington Consensus," Research Department Publications 4405, Inter-American Development Bank, Research Department.
    9. Jacek Kochanowicz & Piotr Kozarzewski & Richard Woodward, 2005. "Understanding Reform: The Case of Poland," CASE Network Reports 0059, CASE-Center for Social and Economic Research.
    10. Alvaro CUERVO-CAZURRA & Luis Alfonso DAU, 2008. "Structural Reform And Firm Profitability In Developing Countries," William Davidson Institute Working Papers Series wp940, William Davidson Institute at the University of Michigan.
    11. Ablam Estel Apeti & Kwamivi Gomado, 2023. "IMF conditionality and structural reforms: Evidence from developing countries," WIDER Working Paper Series wp-2023-97, World Institute for Development Economic Research (UNU-WIDER).
    12. Pablo Egaña & Alejandro Micco, 2011. "Labor Market in Latin America and the Caribbean: The Missing Reform," Working Papers wp345, University of Chile, Department of Economics.
    13. Bakker, Bas & Ghazanchyan, Manuk & Ho, Alex & Nanda, Vibha, 2020. "The Lack of Convergence of Latin-America Compared with CESEE: Is Low Investment to Blame?," MPRA Paper 101287, University Library of Munich, Germany.
    14. Eduardo Lora & Mauricio Olivera, 2005. "Repercusiones electorales del Consenso de Washington," Research Department Publications 4406, Inter-American Development Bank, Research Department.
    15. Eduardo Lora, 2012. "Las reformas estructurales en América Latina: Qué se ha reformado y cómo medirlo (Versión actualizada)," Research Department Publications 4826, Inter-American Development Bank, Research Department.
    16. Di Tella, Rafael & Schargrodsky, Ernesto, 2009. "Happiness, Ideology and Crime in Argentine Cities," IDB Publications (Working Papers) 1662, Inter-American Development Bank.
    17. -, 2008. "Economic Survey of Latin America and the Caribbean 2007-2008: Macroeconomic policy and volatility," Estudio Económico de América Latina y el Caribe, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1067 edited by Eclac.
    18. Isidro Hernández, 2003. "Las privatizaciones en Colombia," Apuntes del Cenes, Universidad Pedagógica y Tecnológica de Colombia.

  59. Galindo, Arturo & Panizza, Ugo & Schiantarelli, Fabio, 2003. "Debt composition and balance sheet effects of currency depreciation: a summary of the micro evidence," Emerging Markets Review, Elsevier, vol. 4(4), pages 330-339, December.

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    1. Yeyati, Eduardo Levy & Morón, Eduardo, 2006. "Comments," LSE Research Online Documents on Economics 123116, London School of Economics and Political Science, LSE Library.
    2. Lee, Kwan Yong & Naknoi, Kanda, 2024. "Exchange rates, invoicing currencies and the margins of exports," Journal of International Money and Finance, Elsevier, vol. 141(C).
    3. Karsten Kohler, 2019. "Exchange rate dynamics, balance sheet effects, and capital flows. A Minskyan model of emerging market boom-bust cycles," Working Papers PKWP1906, Post Keynesian Economics Society (PKES).
    4. Bernini Federico Gastón & Donaldson Paula & Garcia-Lembergman Ezequiel & Juárez Leticia, 2024. "The Financial Channel of Tax Amnesty Policies," Asociación Argentina de Economía Política: Working Papers 4710, Asociación Argentina de Economía Política.
    5. David Kohn & Fernando Leibovici & Michal Szkup, 2015. "Financial Frictions and Export Dynamics in Large Devaluations," Department of Economics Working Papers 2015_2, Universidad Torcuato Di Tella.
    6. Kevin Cowan & José De Gregorio, 2007. "International Borrowing, Capital Controls, and the Exchange Rate: Lessons from Chile," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 241-296, National Bureau of Economic Research, Inc.
    7. Julián Caballero, 2020. "Corporate dollar debt and depreciations: all's well that ends well?," BIS Working Papers 879, Bank for International Settlements.
    8. Laura Alfaro & Gonzalo Asis & Anusha Chari & Ugo Panizza, 2017. "Lessons Unlearned? Corporate Debt in Emerging Markets," NBER Working Papers 23407, National Bureau of Economic Research, Inc.
    9. Júnior, José L. R., 2008. "Exchange Rate Exposure, Foreign Currency Debt and the Use of Derivatives: Evidence from Brazil," Insper Working Papers wpe_141, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    10. Chakrabarti, Prasenjit & Sen, Sudipta, 2023. "Foreign currency borrowing and risk exposure of firms: An emerging market economy viewpoint," Journal of Policy Modeling, Elsevier, vol. 45(6), pages 1246-1261.
    11. Friederike Niepmann & Tim Schmidt-Eisenlohr, 2017. "Foreign Currency Loans and Credit Risk: Evidence from U.S. Banks," CESifo Working Paper Series 6700, CESifo.
    12. José María Serena & Ricardo Sousa, 2017. "Does exchange rate depreciation have contractionary effects on firm-level investment?," BIS Working Papers 624, Bank for International Settlements.
    13. Mariann Endrész & Gyõzõ Gyöngyösi & Péter Harasztosi, 2012. "Currency mismatch and the sub-prime crisis: firm-level stylised facts from Hungary," MNB Working Papers 2012/8, Magyar Nemzeti Bank (Central Bank of Hungary).
    14. Rajeswari Sengupta, 2014. "Firm dollar debt and central bank dollar reserves: Empirical evidence from Latin America," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2014-013, Indira Gandhi Institute of Development Research, Mumbai, India.
    15. Martin Brown & Steven Ongena & Pinar Yesin, 2012. "Information Asymmetry and Foreign Currency Borrowing by Small Firms," Working Papers 2012-05, Swiss National Bank.
    16. Ojea-Ferreiro, Javier & Reboredo, Juan C., 2022. "Exchange rates and the global transmission of equity market shocks," Economic Modelling, Elsevier, vol. 114(C).
    17. Towbin, Pascal & Weber, Sebastian, 2013. "Limits of floating exchange rates: The role of foreign currency debt and import structure," Journal of Development Economics, Elsevier, vol. 101(C), pages 179-194.
    18. Duygu Yolcu Karadam & Erdal Özmen, 2016. "Real Exchange Rates and Growth," ERC Working Papers 1609, ERC - Economic Research Center, Middle East Technical University, revised Sep 2016.
    19. Gyöngyösi, Győző & Rariga, Judit & Verner, Emil, 2022. "The anatomy of consumption in a household foreign currency debt crisis," Working Paper Series 2733, European Central Bank.
    20. Mehtap Kesriyeli & Erdal Ozmen & Serkan Yiğit, 2011. "Corporate sector liability dollarization and exchange rate balance sheet effect in Turkey," Applied Economics, Taylor & Francis Journals, vol. 43(30), pages 4741-4747.
    21. Kevin Cowan L. & Erwin Hansen S. & Luis Óscar Herrera B., 2005. "Currency Mismatches in Non-Financial Firms in Chile," Journal Econom a Chilena (The Chilean Economy), Central Bank of Chile, vol. 8(2), pages 57-82, August.
    22. Scott L. Fulford & Felipe Schwartzman, 2020. "The Benefits of Commitment to a Currency Peg: Aggregate Lessons from the Regional Effects of the 1896 U.S. Presidential Election," The Review of Economics and Statistics, MIT Press, vol. 102(3), pages 600-616, July.
    23. Martin Brown & Steven Ongena & Pinar Yesin, 2009. "Foreign Currency Borrowing by Small Firms," Working Papers 2009-02, Swiss National Bank.
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    25. Nelson R. Ramírez-Rondán, 2016. "Balance Sheet and Currency Mismatch: Evidence for Peruvian Firms," Working Papers 85, Peruvian Economic Association.
    26. Alicia Garcia Herrero & Juan Carlos Berganza, 2004. "What Makes Balance Sheet Effects Detrimental For The Country Risk Premium?," International Finance 0408002, University Library of Munich, Germany.
    27. Camila Casas & Sergii Meleshchuk & Yannick Timmer, 2022. "The Dominant Currency Financing Channel of External Adjustment," International Finance Discussion Papers 1343, Board of Governors of the Federal Reserve System (U.S.).
    28. José Luiz Rossi Júnior, 2008. "Exchange Rate Exposure, Foreign Currency Debt and the Use of Derivatives: Evidence from Brazil," Business and Economics Working Papers 030, Unidade de Negocios e Economia, Insper.
    29. Kevin Cowan & Erwin Hansen & Luis Oscar Herrera, 2005. "Currency Mismatches, Balance Sheet Effects and Hedging in Chilean non-Financial Corporations," Working Papers Central Bank of Chile 346, Central Bank of Chile.
    30. Marianna Endrész & Péter Harasztosi, 2014. "Corporate Foreign Currency Borrowing and Investment. The Case of Hungary," MNB Working Papers 2014/1, Magyar Nemzeti Bank (Central Bank of Hungary).
    31. Pinar Yesin, 2013. "Foreign Currency Loans and Systemic Risk in Europe," Working Papers 13.06, Swiss National Bank, Study Center Gerzensee.
    32. Jesse Schreger & Wenxin Du, 2014. "Sovereign Risk, Currency Risk, and Corporate Balance Sheets," Working Paper 209056, Harvard University OpenScholar.
    33. David Amiel & Paul-Adrien Hyppolite, 2015. "Is There An Easy Way Out? Private Marketable Debt And Its Implications For A Euro Breakup: The Case Of France," Working Papers hal-01117019, HAL.
    34. Galindo, Arturo & Izquierdo, Alejandro & Montero, Jose Manuel, 2007. "Real exchange rates, dollarization and industrial employment in Latin America," Emerging Markets Review, Elsevier, vol. 8(4), pages 284-298, December.
    35. Andreas Röthig, 2009. "Microeconomic Risk Management and Macroeconomic Stability," Lecture Notes in Economics and Mathematical Systems, Springer, number 978-3-642-01565-6, February.
    36. Valentina Bruno & Hyun Song Shin, 2020. "Currency Depreciation and Emerging Market Corporate Distress," Management Science, INFORMS, vol. 66(5), pages 1935-1961, May.
    37. Ana María Iregui & Luis Fernando Melo V. & María Teresa Ramírez, 2013. "Efecto de la volatilidad y del desalineamiento de la tasa de cambio real sobre la actividad de las empresas en Colombia," Borradores de Economia 801, Banco de la Republica de Colombia.
    38. Ahnert, Toni & Forbes, Kristin & Friedrich, Christian & Reinhardt, Dennis, 2018. "Macroprudential FX Regulations: Shifting the Snowbanks of FX Vulnerability?," CEPR Discussion Papers 12766, Centre for Economic Policy Research.
    39. Walter, Stefanie, 2008. "A New Approach for Determining Exchange-Rate Level Preferences," International Organization, Cambridge University Press, vol. 62(3), pages 405-438, July.
    40. Harasztosi, Péter & Kátay, Gábor, 2020. "Currency matching by non-financial corporations," Journal of Banking & Finance, Elsevier, vol. 113(C).
    41. César Carrera, 2016. "Identifying the exchange-rate balance sheet effect over firms," Working Papers 66, Peruvian Economic Association.
    42. Lorenzo Nalin & Giuliano Toshiro Yajima, 2020. "Balance Sheet Effects of a Currency Devaluation: A Stock-Flow Consistent Framework for Mexico?," Economics Working Paper Archive wp_980, Levy Economics Institute.
    43. Kevin Cowan & Erwin Hansen & Luis Oscar Herrera, 2005. "Descalces cambiarios, repercusiones en el balance general y protección contra el riesgo en empresas no financieras chilenas," Research Department Publications 4388, Inter-American Development Bank, Research Department.
    44. Jane Mpapalika & Christopher Malikane, 2019. "The Determinants of Sovereign Risk Premium in African Countries," JRFM, MDPI, vol. 12(1), pages 1-20, February.
    45. Kátay, Gábor & Péter, Harasztosi, 2017. "Currency Matching and Carry Trade by Non-Financial Corporations," JRC Working Papers in Economics and Finance 2017-02, Joint Research Centre, European Commission.
    46. Scott L. Fulford & Felipe Schwartzman, 2013. "The credibility of exchange rate pegs and bank distress in historical perspective: lessons from the national banking era," Working Paper 13-18, Federal Reserve Bank of Richmond.
    47. Samba MBAYE, 2012. "Beggar-thy-Neighbor Effects of Currency Undervaluation: Is China the Tip of the Iceberg?," Working Papers 201239, CERDI.
    48. Valentina Bruno & Hyun Song Shin, 2015. "Global dollar credit and carry trades: a firm-level analysis," BIS Working Papers 510, Bank for International Settlements.
    49. Mr. Alain Ize, 2005. "Financial Dollarization Equilibria: A Framework for Policy Analysis," IMF Working Papers 2005/186, International Monetary Fund.
    50. Boschi, Melisso & Goenka, Aditya, 2012. "Relative risk aversion and the transmission of financial crises," Journal of Economic Dynamics and Control, Elsevier, vol. 36(1), pages 85-99.
    51. Gita Gopinath & Jeremy C. Stein, 2018. "Banking, Trade, and the making of a Dominant Currency," NBER Working Papers 24485, National Bureau of Economic Research, Inc.
    52. Chue, Timothy K. & Cook, David, 2008. "Sudden stops and liability dollarization: Evidence from Asia's financial intermediaries," Pacific-Basin Finance Journal, Elsevier, vol. 16(4), pages 436-452, September.
    53. Brown, M. & Ongena, S. & Yesin, P., 2008. "Currency Denomination of Bank Loans : Evidence from Small Firms in Transition Countries," Other publications TiSEM c01ada6e-5c4b-48eb-8743-6, Tilburg University, School of Economics and Management.
    54. Minsuk Kim, 2019. "Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence," IMF Working Papers 2019/168, International Monetary Fund.
    55. Ricardo Bebczuk & Arturo Galindo & Ugo Panizza, 2006. "An Evaluation of the Contractionary Devaluation Hypothesis," IIE, Working Papers 064, IIE, Universidad Nacional de La Plata.
    56. Fernando J. Pérez Forero & Marco Vega, 2016. "Asymmetric Exchange Rate Pass-through: Evidence from Nonlinear SVARs," Working Papers 63, Peruvian Economic Association.
    57. García, Carlos J. & González, Wildo D., 2013. "Exchange rate intervention in small open economies: The role of risk premium and commodity price shocks," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 424-447.
    58. World Bank, 2011. "Turkey - Country Economic Memorandum (CEM) : Sustaining High Growth - The Role of Domestic savings : Synthesis Report," World Bank Publications - Reports 12264, The World Bank Group.
    59. Kim, Soon Sung & Chung, Jaiho & Hwang, Joon Ho & Pyun, Ju Hyun, 2020. "The effectiveness of foreign debt in hedging exchange rate exposure: Multinational enterprises vs. exporting firms," Pacific-Basin Finance Journal, Elsevier, vol. 64(C).
    60. Carmignani, Fabrizio & Colombo, Emilio & Tirelli, Patrizio, 2008. "Exploring different views of exchange rate regime choice," Journal of International Money and Finance, Elsevier, vol. 27(7), pages 1177-1197, November.
    61. Erdal Ozmen & Cihan Yalcin, 2007. "Kuresel Finansal Riskler Karsisinda Turkiye'de Reel Sektor Finansal Yapisi ve Borc Dolarizasyonu," Working Papers 0706, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    62. Miguel FUENTES, 2009. "Dollarization Of Debt Contracts: Evidence From Chilean Firms," The Developing Economies, Institute of Developing Economies, vol. 47(4), pages 458-487, December.
    63. Jacob M. Meyer & Nicholas R. Jenkins, 2019. "Interest Groups, Policy Responses to Global Shocks, and the Relative Likelihood of Currency Crashes Versus Banking Crises," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 1-56, June.
    64. Kevin Cowan & Erwin Hansen & Luis Óscar Herrera, 2006. "Currency Mismatches in Chilean Nonfinancial Corporations," Central Banking, Analysis, and Economic Policies Book Series, in: Ricardo Caballero & César Calderón & Luis Felipe Céspedes & Norman Loayza (Series Editor) & Klaus Sc (ed.),External Vulnerability and Preventive Policies, edition 1, volume 10, chapter 7, pages 207-252, Central Bank of Chile.
    65. Mr. Eduardo Levy Yeyati & Mr. Alain Ize, 2005. "Financial De-Dollarization: Is it for Real?," IMF Working Papers 2005/187, International Monetary Fund.
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    68. Zhang, Ling & Berk Saydaliev, Hayot & Ma, Xiaoyu, 2022. "Does green finance investment and technological innovation improve renewable energy efficiency and sustainable development goals," Renewable Energy, Elsevier, vol. 193(C), pages 991-1000.
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  60. Hausmann, Ricardo & Panizza, Ugo, 2003. "On the determinants of Original Sin: an empirical investigation," Journal of International Money and Finance, Elsevier, vol. 22(7), pages 957-990, December.

    Cited by:

    1. Mykhaylova Olena & Staveley-O’Carroll James, 2014. "International transmission of productivity shocks with nonzero net foreign debt," The B.E. Journal of Macroeconomics, De Gruyter, vol. 14(1), pages 579-624, January.
    2. Sidi Mohammed Chekouri & Abderrahim Chibi & Mohamed Benbouziane, 2022. "Identifying Algeria’s de facto exchange rate regime: a wavelet-based approach," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 11(1), pages 1-17, December.
    3. Lu, Dong & Qian, Xingwang & Zhu, Wenyu, 2024. "External debt currency denomination and the currency composition of foreign exchange reserves," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    4. Georgiadis, Georgios & Zhu, Feng, 2021. "Foreign-currency exposures and the financial channel of exchange rates: Eroding monetary policy autonomy in small open economies?," Journal of International Money and Finance, Elsevier, vol. 110(C).
    5. Essers, Dennis & Cassimon, Danny, 2012. "Washing away original sin: vulnerability to crisis and the role of local currency bonds in Sub-Saharan Africa," IOB Working Papers 2012.12, Universiteit Antwerpen, Institute of Development Policy (IOB).
    6. Ms. Magdalena Polan & Parmeshwar Ramlogan & Mr. Carlos I. Medeiros, 2007. "A Primer on Sovereign Debt Buybacks and Swaps," IMF Working Papers 2007/058, International Monetary Fund.
    7. Qi Zhang & Xue Sun & Weining Wang, 2025. "How does country-specific macro uncertainty affect international debt securities denominated in local currency?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 161(4), pages 1255-1278, November.
    8. Matthew Theobald, 2023. "Heterogeneity in the impact of risk on local currency borrowing," Indian Economic Review, Springer, vol. 58(2), pages 319-357, September.
    9. M, Ramachandran & Maheswari, D., 2022. "Asymmetry in forex market intervention: Does it reflect fear of reserve inadequacy?," The Journal of Economic Asymmetries, Elsevier, vol. 25(C).
    10. Galina Hale & Peter Jones & Mark M. Spiegel, 2014. "The Rise in Home Currency Issuance," Working Paper Series 2014-19, Federal Reserve Bank of San Francisco.
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  62. Jessica Seddon Wallack & Alejandro Gaviria & Ugo Panizza & Ernesto Stein, 2003. "Particularism around the World," The World Bank Economic Review, World Bank, vol. 17(1), pages 133-143, June.

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    2. Vatcharin Sirimaneetham, 2006. "What drives liberal policies in developing countries?," Bristol Economics Discussion Papers 06/587, School of Economics, University of Bristol, UK.
    3. Weiss, Michael, 2025. "Legislative turnover: an in-depth look at Central and Eastern Europe," SocArXiv 2kdsh_v1, Center for Open Science.
    4. Kåre Vernby, 2007. "Strikes are more common in countries with majoritarian electoral systems," Public Choice, Springer, vol. 132(1), pages 65-84, July.
    5. Witold J. Henisz & Bennet A. Zelner, 2004. "Interest Groups, Veto Points And Electricity Infrastructure Deployment," William Davidson Institute Working Papers Series 2004-711, William Davidson Institute at the University of Michigan.
    6. Stefan Voigt & Lorenz Blume, "undated". "The Economic Effects of Direct Democracy - A Cross-Country Assessment," German Working Papers in Law and Economics 2006-1-1144, Berkeley Electronic Press.
    7. Scartascini, Carlos & Spiller, Pablo T. & Stein, Ernesto H. & Tommasi, Mariano & Alston, Lee J. & Melo, Marcus André & Mueller, Bernardo & Pereira, Carlos & Aninat, Cristóbal & Londregan, John & Navia, 2011. "El juego político en América Latina: ¿Cómo se deciden las políticas públicas?," IDB Publications (Books), Inter-American Development Bank, number 332.
    8. Scartascini, Carlos, 2007. "The Institutional Determinants of Political Transactions," IDB Publications (Working Papers) 1961, Inter-American Development Bank.
    9. Brown, David S. & Touchton, Michael & Whitford, Andrew, 2011. "Political Polarization as a Constraint on Corruption: A Cross-national Comparison," World Development, Elsevier, vol. 39(9), pages 1516-1529, September.
    10. Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2010. "Disclosure by Politicians," American Economic Journal: Applied Economics, American Economic Association, vol. 2(2), pages 179-209, April.
    11. Vatcharin Sirimaneetham, 2006. "Explaining policy volatility in developing countries," Bristol Economics Discussion Papers 06/583, School of Economics, University of Bristol, UK.
    12. Fumagalli, Eileen & Narciso, Gaia, 2012. "Political institutions, voter turnout, and policy outcomes," European Journal of Political Economy, Elsevier, vol. 28(2), pages 162-173.
    13. Simona Piattoni & Matteo Fabio Nels Giglioli, 2020. "Does Changing Electoral Systems Affect (Corrupt) Particularistic Exchanges? Evidence from the Italian Case," Politics and Governance, Cogitatio Press, vol. 8(2), pages 78-91.
    14. Lawrence Blume & Jens Müller & Stefan Voigt, 2007. "The Economic Effects of Direct Democracy – A First Global Assessment," CESifo Working Paper Series 2149, CESifo.

  63. Panizza, Ugo, 2002. "Income Inequality and Economic Growth: Evidence from American Data," Journal of Economic Growth, Springer, vol. 7(1), pages 25-41, March.
    See citations under working paper version above.
  64. Ugo Panizza, 2001. "Convergence in Income Inequality," Journal of Income Distribution, Ad libros publications inc., vol. 10(1-2), pages 1-1, June.

    Cited by:

    1. Kutuk, Yasin, 2022. "Inequality convergence: A world-systems theory approach," Structural Change and Economic Dynamics, Elsevier, vol. 63(C), pages 150-165.
    2. Ugo Panizza, 1999. "Income Inequality and Economic Growth: Evidence from the American Data," Research Department Publications 4178, Inter-American Development Bank, Research Department.
    3. Oasis Kodila-Tedika, 2018. "Governance in Africa: Convergence or Divergence?," Economics Bulletin, AccessEcon, vol. 38(1), pages 71-88.
    4. Pei-Chien Lin & Ho-Chuan Huang, 2011. "Inequality convergence in a panel of states," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 9(2), pages 195-206, June.
    5. Pei-Chien Lin & Ho-Chuan Huang, 2012. "Convergence in income inequality? evidence from panel unit root tests with structural breaks," Empirical Economics, Springer, vol. 43(1), pages 153-174, August.
    6. Kolawole Ogundari, 2023. "Club Convergence in Income Inequality in Africa," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 167(1), pages 319-337, June.
    7. Alfonso Mendoza-Velázquez & Daniel Ventosa-Santaulària & Vicente Germán-Soto, 2019. "Mexico’s inter-regional inequality: a convergent process?," Empirical Economics, Springer, vol. 56(5), pages 1683-1705, May.
    8. Lin, Pei-Chien & Huang, Ho-Chuan (River), 2012. "Inequality convergence revisited: Evidence from stationarity panel tests with breaks and cross correlation," Economic Modelling, Elsevier, vol. 29(2), pages 316-325.
    9. Ugo Panizza, 1999. "Desigualdad del ingreso y crecimiento económico: elementos de juicio de datos de USA," Research Department Publications 4179, Inter-American Development Bank, Research Department.
    10. Liu, Wen-Chi, 2013. "Reexamining the income inequality in China: Evidence from sequential panel selection method," Economic Modelling, Elsevier, vol. 31(C), pages 37-42.
    11. Nicholas Apergis & Francisco J. Delgado & Claudia Suárez‐Arbesú, 2025. "Inequality and poverty in Spain: Insights from a regional convergence analysis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(2), pages 1707-1723, April.
    12. Nicholas Apergis & Christina Christou & Rangan Gupta & Stephen M. Miller, 2016. "Convergence in Income Inequality: Further Evidence from the Club Clustering Methodology across the U.S. States," Working papers 2016-19, University of Connecticut, Department of Economics.
    13. Kyungmin Kim, 2022. "Income inequality convergence: Evidence from the World Inequality Database," Economics Bulletin, AccessEcon, vol. 42(4), pages 1858-1873.
    14. Ravallion, Martin, 2001. "Growth, inequality, and poverty : looking beyond averages," Policy Research Working Paper Series 2558, The World Bank.
    15. Roberto Ezcurra & Pedro Pascual, 2009. "Convergence in income inequality in the United States: a nonparametric analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 16(13), pages 1365-1368.
    16. Francesco Savoia, 2020. "Income Inequality Convergence Across EU Regions," LIS Working papers 760, LIS Cross-National Data Center in Luxembourg.
    17. Savoia, Francesco, 2024. "Income inequality convergence among EU regions," Socio-Economic Planning Sciences, Elsevier, vol. 92(C).
    18. Omid Ranjbar & Tsangyao Chang & Chien-Chiang Lee, 2016. "Income Convergence toward USA: New Evidences for Latin and South American Countries," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 20(2), pages 141-162, Spring.
    19. Nicholas Apergis & Christina Christou & Rangan Gupta & Stephen M. Miller, 2018. "Convergence in Income Inequality: Further Evidence from the Club Clustering Methodology across States in the U.S," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 24(2), pages 147-161, May.
    20. Ioannis Bournakis & Mona Said & Antonio Savoia & Francesco Savoia, 2021. "Regional Income Inequality in Egypt: Evolution and Implications for Sustainable Development Goal 10," LIS Working papers 798, LIS Cross-National Data Center in Luxembourg.
    21. Kim, Dong-Hyeon & Chen, Ting-Cih & Lin, Shu-Chin, 2020. "Does oil drive income inequality? New panel evidence," Structural Change and Economic Dynamics, Elsevier, vol. 55(C), pages 137-152.
    22. Claudia Suárez‐Arbesú & Nicholas Apergis & Francisco J. Delgado, 2023. "Club convergence and factors of income inequality in the European Union," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 3654-3666, October.
    23. Gomes, Fábio A. R., 2007. "Convergence in Income Inequality: the Case of Brazilian Municipalities," Insper Working Papers wpe_92, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    24. Omid Ranjbar & Chien-Chiang Lee & Tsangyao Chang & Mei-Ping Chen, 2014. "Income Convergence in African Countries: Evidence from a Stationary Test With Multiple Structural Breaks," South African Journal of Economics, Economic Society of South Africa, vol. 82(3), pages 371-391, September.
    25. Kris Ivanovski & Sefa Awaworyi Churchill & John Inekwe, 2020. "Convergence in Income Inequality Across Australian States and Territories," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 148(1), pages 127-142, February.
    26. Ho, Tsung-wu, 2015. "Income inequality may not converge after all: Testing panel unit roots in the presence of cross-section cointegration," The Quarterly Review of Economics and Finance, Elsevier, vol. 56(C), pages 68-79.
    27. Sakiru Adebola Solarin & Sinan Erdogan & Ugur Korkut Pata, 2023. "Convergence of Income Inequality in OECD Countries Since 1870: A Multi-Method Approach with Structural Changes," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 166(3), pages 601-626, April.

  65. Ugo Panizza, 2001. "Public Sector Wages and Bureaucratic Quality: Evidence from Latin America," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2001), pages 97-152.
    See citations under working paper version above.
  66. Hausmann, Ricardo & Panizza, Ugo & Stein, Ernesto, 2001. "Why do countries float the way they float?," Journal of Development Economics, Elsevier, vol. 66(2), pages 387-414, December.
    See citations under working paper version above.
  67. Ugo, 2001. "Electoral Rules, Political Systems, and Institutional Quality," Economics and Politics, Wiley Blackwell, vol. 13(3), pages 311-342, November.

    Cited by:

    1. Stéphane Straub, 2000. "Empirical Determinants of Good Institutions: Do We Know Anything?," Research Department Publications 4215, Inter-American Development Bank, Research Department.
    2. Bartolini, David & Santolini, Raffaella, 2017. "Political institutions behind good governance," Economic Systems, Elsevier, vol. 41(1), pages 68-85.
    3. Alberto Chong & Alejandro Izquierdo & Alejandro Micco & Ugo Panizza, 2003. "Corporate Governance and Private Capital Flows to Latin America," Research Department Publications 4323, Inter-American Development Bank, Research Department.
    4. Jessica Seddon Wallack & Alejandro Gaviria & Ugo Panizza & Ernesto H. Stein, 2002. "Particularismo político alrededor del mundo," Research Department Publications 4290, Inter-American Development Bank, Research Department.
    5. Vatcharin Sirimaneetham, 2006. "What drives liberal policies in developing countries?," Bristol Economics Discussion Papers 06/587, School of Economics, University of Bristol, UK.
    6. Alberto Melo, 2003. "Colombia: Los problemas de competitividad de un país en conflicto," Research Department Publications 1002, Inter-American Development Bank, Research Department.
    7. Stefan Voigt, 2011. "Positive constitutional economics II—a survey of recent developments," Public Choice, Springer, vol. 146(1), pages 205-256, January.
    8. Stéphane Straub, 2000. "Factores determinantes empíricos de las buenas instituciones: ¿sabemos algo a ciencia cierta?," Research Department Publications 4216, Inter-American Development Bank, Research Department.
    9. Alberto Chong & Alejandro Izquierdo & Alejandro Micco & Ugo Panizza, 2003. "Conducción empresarial y flujos de capitales privados hacia América Latina," Research Department Publications 4324, Inter-American Development Bank, Research Department.
    10. Meričková Beáta Mikušová & Bašteková Andrea & Stejskal Jan & Pekár Bernard, 2017. "Economic, Political, Social Factor of Corruption in the Slovak Republic," NISPAcee Journal of Public Administration and Policy, Paradigm, vol. 10(1), pages 99-120, June.
    11. Eduardo Lora & Ugo Panizza, 2002. "Structural Reforms in Latin America under Scrutiny," Research Department Publications 4301, Inter-American Development Bank, Research Department.
    12. Hamilton, Alexander, 2013. "Small is beautiful, at least in high-income democracies: the distribution of policy-making responsibility, electoral accountability, and incentives for rent extraction," Policy Research Working Paper Series 6305, The World Bank.
    13. Witold J. Henisz & Bennet A. Zelner, 2004. "Interest Groups, Veto Points And Electricity Infrastructure Deployment," William Davidson Institute Working Papers Series 2004-711, William Davidson Institute at the University of Michigan.
    14. Karthik Reddy & Moritz Schularick & Vasiliki Skreta, 2020. "Immunity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(2), pages 531-564, May.
      • Karthik Reddy & Moritz Schularick & Vasiliki Skreta, 2012. "Immunity," Working Papers 12-17, New York University, Leonard N. Stern School of Business, Department of Economics.
      • Karthik Reddy & Moritz Schularick & Vasiliki Skreta, 2013. "Immunity," Working Papers 13-04, New York University, Leonard N. Stern School of Business, Department of Economics.
      • Karthik Reddy & Moritz Schularick & Vasiliki Skreta, 2013. "Immunity," CESifo Working Paper Series 4445, CESifo.
    15. Weymouth Stephen, 2013. "Firm lobbying and influence in developing countries: a multilevel approach," Business and Politics, De Gruyter, vol. 14(4), pages 1-26, January.
    16. Akee, Randall & Jorgensen, Miriam & Sunde, Uwe, 2015. "Critical junctures and economic development – Evidence from the adoption of constitutions among American Indian Nations," Journal of Comparative Economics, Elsevier, vol. 43(4), pages 844-861.
    17. Brown, David S. & Touchton, Michael & Whitford, Andrew, 2011. "Political Polarization as a Constraint on Corruption: A Cross-national Comparison," World Development, Elsevier, vol. 39(9), pages 1516-1529, September.
    18. Joshua D. Potter & Margit Tavits, 2011. "Curbing Corruption with Political Institutions," Chapters, in: Susan Rose-Ackerman & Tina Søreide (ed.), International Handbook on the Economics of Corruption, Volume Two, chapter 2, Edward Elgar Publishing.
    19. Eduardo Lora & Ugo Panizza, 2002. "Las reformas estructurales en América Latina bajo la lupa," Research Department Publications 4302, Inter-American Development Bank, Research Department.
    20. B. Heller, William & P. Kyriacou, Andreas & Roca-Sagalés, Oriol, 2014. "Legislative Vetoes and Corruption: The Effect of Formal Checks on Governance," MPRA Paper 61651, University Library of Munich, Germany.
    21. Luis Angeles & Kyriakos C. Neanidis, 2010. "Colonialism, Elite Formation and Corruption," Centre for Growth and Business Cycle Research Discussion Paper Series 144, Economics, The University of Manchester.
    22. Piergiuseppe Fortunato & Ugo Panizza, 2015. "Democracy, education and the quality of government," Journal of Economic Growth, Springer, vol. 20(4), pages 333-363, December.
    23. Jessica Seddon Wallack & Alejandro Gaviria & Ugo Panizza & Ernesto H. Stein, 2002. "Political Particularism around the World," Research Department Publications 4289, Inter-American Development Bank, Research Department.
    24. Kodila Tedika, Oasis, 2012. "Empirical Survey on the Causes of the Corruption [Aperçu empirique sur les causes de la corruption]," MPRA Paper 41484, University Library of Munich, Germany.
    25. Rola Nabil Kabbani, 2016. "Veto Players Index: A New Measure of Constitution Rigidity," Working Papers 40, The German University in Cairo, Faculty of Management Technology.
    26. Alberto Chong & Alejandro Izquierdo & Alejandro Micco & Ugo Panizza, 2005. "Political and Corporate Governance and Pro‐Cyclicality in Capital Flows: Evidence from Emerging Market Countries," International Finance, Wiley Blackwell, vol. 8(2), pages 167-198, August.
    27. Beáta Mikušová Meričková & Marek Majerík & Michal Lendvorský, 2021. "The problem of corruption in the contracting out of public services - the case of Slovakia," Acta Universitatis Bohemiae Meridionalis, University of South Bohemia in Ceske Budejovice, Faculty of Economics, vol. 24(2), pages 75-90.
    28. Bakker Femke E. & Rotondi Valentina, 2016. "Vote for Your Family! Particularism, Support for Democracy and Support for Shari’a in the Arab World," Review of Middle East Economics and Finance, De Gruyter, vol. 12(2), pages 115-137, August.
    29. Graf Lambsdorff, Johann, 2005. "Consequences and causes of corruption: What do we know from a cross-section of countries?," Passauer Diskussionspapiere, Volkswirtschaftliche Reihe V-34-05, University of Passau, Faculty of Business and Economics.

  68. Panizza, Ugo, 1999. "On the determinants of fiscal centralization: Theory and evidence," Journal of Public Economics, Elsevier, vol. 74(1), pages 97-139, October.

    Cited by:

    1. Andreas P. Kyriacou & Oriol Roca-Sagalés, 2018. "Decentralization and Governance in Europe: Evidence from Different Expenditure Components," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1808, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    2. Thomas Christin & Simon Hug, 2012. "Federalism, the Geographic Location of Groups, and Conflict," Conflict Management and Peace Science, Peace Science Society (International), vol. 29(1), pages 93-122, February.
    3. Jean-Marc Bourgeon & Marie-Laure Breuillé, 2023. "Citizen preferences and the architecture of government," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 61(3), pages 537-585, October.
    4. Schakel, Arjan Hille, 2009. "A Postfunctionalist Theory of Regional Government," MPRA Paper 21596, University Library of Munich, Germany.
    5. Lars P. Feld & Christoph A. Schaltegger & Jan Schnellenbach, 2005. "On Government Centralization and Fiscal Referendums: A Theoretical Model and Evidence from Switzerland," CREMA Working Paper Series 2005-18, Center for Research in Economics, Management and the Arts (CREMA).
    6. Jorge Martinez-Vazquez & Ming-Hung Yao, 2009. "Fiscal Decentralization and Public Sector Employment," Public Finance Review, , vol. 37(5), pages 539-571, September.
    7. Christian Leßmann, 2006. "Fiscal Decentralization and Regional Disparity: A Panel Data Approach for OECD Countries," ifo Working Paper Series 25, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    8. Borge, Lars-Erik & Brueckner, Jan K. & Rattsø, Jorn, 2014. "Partial fiscal decentralization and demand responsiveness of the local public sector: Theory and evidence from Norway," Journal of Urban Economics, Elsevier, vol. 80(C), pages 153-163.
    9. Libman, Alexander, 2010. "Constitutions, regulations, and taxes: Contradictions of different aspects of decentralization," Journal of Comparative Economics, Elsevier, vol. 38(4), pages 395-418, December.
    10. Antonio Nicolás Bojanic, 2020. "The empirical evidence on the determinants of fiscal decentralization," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 12(1), pages 271-302.
    11. Robert P. Inman, 2008. "Federalism's Values and the Value of Federalism," NBER Working Papers 13735, National Bureau of Economic Research, Inc.
    12. Wu, Alfred M. & Wang, Wen, 2013. "Determinants of Expenditure Decentralization: Evidence from China," World Development, Elsevier, vol. 46(C), pages 176-184.
    13. Eichler, Stefan & Hofmann, Michael, 2013. "Sovereign default risk and decentralization: Evidence for emerging markets," European Journal of Political Economy, Elsevier, vol. 32(C), pages 113-134.
    14. Rodríguez-Pose, Andrés & Krøijer, Anne, 2009. "Fiscal decentralization and economic growth in Central and Eastern Europe," LSE Research Online Documents on Economics 53357, London School of Economics and Political Science, LSE Library.
    15. Jørn Rattsø & Jon Hernes Fiva, 2005. "Decentralization with Property Taxation to Improve Incentives: Evidence from Local Governments’ Discrete Choice," Working Paper Series 5305, Department of Economics, Norwegian University of Science and Technology, revised 02 Sep 2005.
    16. Lyu, Bingyang & Ma, Guangrong & Zhan, Jingnan, 2022. "The trade-off between risk and incentives in fiscal federalism: Evidence from China," Journal of Comparative Economics, Elsevier, vol. 50(4), pages 1019-1035.
    17. Loenardo Letelier Saavedra, 2004. "Decentralising the public sector: Fiscal Decentralisation as a Mechanism to Modernise the State - Truths and Myths," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 2(01), pages 15-20, October.
    18. Vincent, Rose Camille & Osei Kwadwo, Victor, 2022. "Spatial interdependence and spillovers of fiscal grants in Benin: Static and dynamic diffusions," World Development, Elsevier, vol. 158(C).
    19. Jorge Martinez-Vazquez & Santiago Lago-Peñas & Agnese Sacchi, 2015. "The Impact of Fiscal Decentralization: A Survey," Working papers 29, Società Italiana di Economia Pubblica.
    20. Trien NGUYEN & Randall M. WIGLE, 2009. "The Skill Dimension of Labour Market Impacts of External Price Shocks: Numerical Calculations From a Canadian Regional Trade Model," EcoMod2009 21500071, EcoMod.
    21. Feld, Lars P. & Schaltegger, Christoph A. & Schnellenbach, Jan, 2008. "On government centralization and fiscal referendums," European Economic Review, Elsevier, vol. 52(4), pages 611-645, May.
    22. Aristovnik, Aleksander, 2012. "Fiscal decentralization in Eastern Europe: a twenty-year perspective," MPRA Paper 39316, University Library of Munich, Germany.
    23. Maria Rosaria Alfano & Anna Laura Baraldi & Claudia Cantabene, 2019. "The Effect of Fiscal Decentralization on Corruption: A Non‐linear Hypothesis," German Economic Review, Verein für Socialpolitik, vol. 20(1), pages 105-128, February.
    24. Partha Gangopadhyay & Shyam Nath, 2001. "Bargaining, Coalitions and Local Expenditure," Urban Studies, Urban Studies Journal Limited, vol. 38(13), pages 2379-2391, December.
    25. Kyriacou, Andreas & Roca-Sagalés, Oriol, 2023. "Fiscal Decentralization and Health Care Access and Quality: Evidence from Local Governments Around the World," MPRA Paper 116860, University Library of Munich, Germany.
    26. Persson, Torsten & Tabellini, Guido, 1998. "The size and scope of government: Comparative politics with rational politicians," Seminar Papers 658, Stockholm University, Institute for International Economic Studies.
    27. Libman, A., 2010. "Empirical Research on Determinants of Decentralization: A Literature Survey," Journal of the New Economic Association, New Economic Association, issue 6, pages 10-29.
    28. Roland Vaubel, 2009. "Constitutional courts as promoters of political centralization: lessons for the European Court of Justice," European Journal of Law and Economics, Springer, vol. 28(3), pages 203-222, December.
    29. Thushyanthan Baskaran, 2010. "Supranational integration and national reorganization: On the Maastricht treaty’s impact on fiscal decentralization in EU countries," Constitutional Political Economy, Springer, vol. 21(4), pages 309-335, December.
    30. Francisco J. Delgado, 2021. "On the Determinants of Fiscal Decentralization: Evidence From the EU," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 23(56), pages 206-206, February.
    31. Alexander Libman, 2012. "Sub-national political regimes and asymmetric fiscal decentralization," Constitutional Political Economy, Springer, vol. 23(4), pages 302-336, December.
    32. Goel, Rajeev K. & Mazhar, Ummad & Nelson, Michael A. & Ram, Rati, 2017. "Different forms of decentralization and their impact on government performance: Micro-level evidence from 113 countries," Economic Modelling, Elsevier, vol. 62(C), pages 171-183.
    33. Niklas Potrafke, 2006. "Political Effects on the Allocation of Public Expenditures: Empirical Evidence from OECD Countries," Discussion Papers of DIW Berlin 653, DIW Berlin, German Institute for Economic Research.
    34. Roger Congleton & Andreas Kyriacou & Jordi Bacaria, 2003. "A Theory of Menu Federalism: Decentralization by Political Agreement," Constitutional Political Economy, Springer, vol. 14(3), pages 167-190, September.
    35. International Monetary Fund, 2011. "Measuring Fiscal Decentralization: Exploring the IMF’s Databases," IMF Working Papers 2011/126, International Monetary Fund.
    36. Jorge Martinez-Vazquez & Ming-Hung Yao, 2009. "Fiscal Decentralization and Public Sector Employment: A Cross-Country Analysis," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0903, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    37. Bruno Emmanuel ONGO NKOA & Derick Ulrich YOUNDA, 2022. "L’urbanisation accroît-elle l’assiette fiscale locale dans un contexte de décentralisation en Afrique subsaharienne ?," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 55, pages 93-111.
    38. Imran Hanif & Pilar Gago-de Santos, 2017. "Impact of Fiscal Decentralization on Private Savings in a Developing Country," Journal of South Asian Development, , vol. 12(3), pages 259-285, December.
    39. Maria Cadaval Sampedro & Ana Herrero Alcalde & Santiago Lago-Peñas & Jorge Martinez-Vazquez, 2022. "Extreme events and the resilience of decentralized governance," Working Papers. Collection A: Public economics, governance and decentralization 2212, Universidade de Vigo, GEN - Governance and Economics research Network.
    40. Mark Gradstein, 2014. "Government Decentralization as a Commitment," CESifo Working Paper Series 4809, CESifo.
    41. Axel Dreher & Kai Gehring & Christos Kotsogiannis & Silvia Marchesi, 2013. "Information Transmission within Federal Fiscal Architectures: Theory and Evidence," Development Working Papers 355, Centro Studi Luca d'Agliano, University of Milano.
    42. G. Gulsun Arikan, 2004. "Fiscal Decentralization: A Remedy for Corruption?," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 11(2), pages 175-195, March.
    43. Agnese Sacchi & Simone Salotti, 2012. "A comprehensive anlysis of expenditure decentralization and of the composition of local public spending," Departmental Working Papers of Economics - University 'Roma Tre' 0155, Department of Economics - University Roma Tre.
    44. Liesbet Hooghe & Gary Marks, 2012. "Beyond Federalism - Estimating and Explaining the Territorial Structure of Government," KFG Working Papers p0037, Free University Berlin.
    45. Mario Jametti & Marcelin Joanis, 2020. "Elections and de facto expenditure decentralization in Canada," Economics of Governance, Springer, vol. 21(3), pages 275-297, September.
    46. Oto-Peralías, Daniel & Romero-Ávila, Diego & Usabiaga, Carlos, 2013. "Does fiscal decentralization mitigate the adverse effects of corruption on public deficits?," European Journal of Political Economy, Elsevier, vol. 32(C), pages 205-231.
    47. Andreas P. Kyriacou & Oriol Roca-Sagalés, 2019. "Local Decentralization and the Quality of Public Services in Europe," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 145(2), pages 755-776, September.
    48. Dinar, Ariel & Kemper, Karin & Blomquist, William & Kurukulasuriya, Pradeep, 2007. "Whitewater: Decentralization of river basin water resource management," Journal of Policy Modeling, Elsevier, vol. 29(6), pages 851-867.
    49. Benard Akalbeo & Jorge Martinez-Vazquez & Bauyrzhan Yedgenov, 2022. "Fiscal Decentralization and Structural versus Cyclical Unemployment Levels," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper2206, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    50. Canavire-Bacarreza, Gustavo & Martinez-Vazquez, Jorge & Yedgenov, Bauyrzhan, 2020. "Identifying and disentangling the impact of fiscal decentralization on economic growth," World Development, Elsevier, vol. 127(C).
    51. Jorge Martinez-Vazquez, 2026. "Fiscal Decentralization at Fifty: Achievements and Challenges," Hacienda Pública Española / Review of Public Economics, IEF, vol. 256(1), pages 41-68, March.
    52. Ugo Panizza, 2004. "Decentralising the public sector: What Drives Fiscal Decentralisation?," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 2(01), pages 21-25, October.
    53. Tobias Arnold & Sean Mueller & Adrian Vatter, 2021. "Shock or Design: What Drives Fiscal De/Centralization? A Comparative Analysis of Twenty-Nine OECD Countries, 1995–2017," Publius: The Journal of Federalism, CSF Associates Inc., vol. 51(1), pages 1-26.
    54. Tranchant, Jean-Pierre, 2016. "Decentralisation, Regional Autonomy and Ethnic Civil Wars: A Dynamic Panel Data Analysis, 1950-2010," MPRA Paper 72750, University Library of Munich, Germany.
    55. Stefan Voigt & Lorenz Blume, 2012. "The economic effects of federalism and decentralization—a cross-country assessment," Public Choice, Springer, vol. 151(1), pages 229-254, April.
    56. Stuti Khemani, 2010. "Decentralization by Politicians: Creation of Grants-financed Local Jurisdictions," Chapters, in: Núria Bosch & Marta Espasa & Albert Solé Ollé (ed.), The Political Economy of Inter-Regional Fiscal Flows, chapter 9, Edward Elgar Publishing.
    57. James Alm & Robert D. Buschman & David L. Sjoquist, 2012. "Citizen "Trust" as an Explanation of State Education Funding to Local School Districts," Working Papers 1208, Tulane University, Department of Economics.
    58. Rubinchik-Pessach, Anna, 2005. "Can decentralization be beneficial?," Journal of Public Economics, Elsevier, vol. 89(7), pages 1231-1249, July.
    59. Cerniglia, Floriana & Longaretti, Riccarda & Zanardi, Alberto, 2021. "How to design decentralisation to curb secessionist pressures? Top-down vs. bottom-up reforms," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 377-390.
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    193. Milan Jílek, 2015. "Factors of Tax Decentralization in OECD-Europe Countries," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2015(2), pages 33-49.
    194. Joan-Maria Esteban & Sabine Flamand & Massimo Morelli & Dominic Rohner, 2018. "The Survival and Demise of the State: A Dynamic Theory of Secession," Working Papers 1028, Barcelona School of Economics.
    195. Silvia Marchesi & Tania Masi, 2021. "Delegation of implementation in project aid," The Review of International Organizations, Springer, vol. 16(3), pages 655-687, July.
    196. Suesse, Marvin, 2019. "Adjusting the size of nations: Empirical determinants of separatism and the Soviet breakup," Journal of Comparative Economics, Elsevier, vol. 47(1), pages 50-64.
    197. Alexander Libman, 2015. "Words or deeds: what matters? On the role of symbolic action in political decentralization," Empirical Economics, Springer, vol. 49(3), pages 801-838, November.
    198. Yamamura, Eiji, 2012. "Death tolls from natural disasters: Influence of interactions between fiscal decentralization, institution, and economic development," MPRA Paper 36987, University Library of Munich, Germany.
    199. Crivelli, Ernesto, 2006. "Sub-National Optimal Budget Allocation and Borrowing under Soft Budget Constraint," Bonn Econ Discussion Papers 24/2006, University of Bonn, Bonn Graduate School of Economics (BGSE).
    200. Freinkman, Lev & Plekhanov, Alexander, 2005. "What determines the extent of fiscal decentralization ? The Russian paradox," Policy Research Working Paper Series 3710, The World Bank.
    201. Martínez, Yolanda Ubago & Arzoz, Pedro Pascual & Arregui, Idoia Zabaleta, 2022. "Tax collection efficiency in OECD countries improves via decentralization, simplification, digitalization and education," Journal of Policy Modeling, Elsevier, vol. 44(2), pages 298-318.
    202. Andrew Abbott & Philip Jones, 2013. "Procyclical government spending: a public choice analysis," Public Choice, Springer, vol. 154(3), pages 243-258, March.
    203. Torben Dall Schmidt, 2008. "The cost of regional equity in Denmark: Goal attainment or incentive distortions," Papers in Regional Science, Wiley Blackwell, vol. 87(4), pages 567-587, November.
    204. Rajeev K. Goel & James W. Saunoris, 2016. "Virtual Versus Physical Government Decentralization: Effects on Corruption and the Shadow Economy," Public Budgeting & Finance, Wiley Blackwell, vol. 36(4), pages 68-93, December.
    205. Leonardo Letelier S., 2005. "Explaining Fiscal Decentralization," Public Finance Review, , vol. 33(2), pages 155-183, March.
    206. Hammond, George W. & Tosun, Mehmet S., 2009. "The Impact of Local Decentralization on Economic Growth: Evidence from U.S. Counties," IZA Discussion Papers 4574, IZA Network @ LISER.
    207. Nevine EID, 2001. "Public Finance Management: In the Context of Centralisation/Decentralisation," Middle East and North Africa 330400025, EcoMod.
    208. Hui Jin & Mihajlo Jakovljevic, 2023. "Fiscal Decentralization and the Human Development Index: A Cross-Border Empirical Study," Sustainability, MDPI, vol. 15(11), pages 1-16, May.
    209. Schmidt, Torsten, 2001. "Finanzreformen in der Bundesrepublik Deutschland: Analyse der Veränderungen der Finanzverfassung von 1949 bis 1989," RWI Schriften, RWI - Leibniz-Institut für Wirtschaftsforschung, volume 67, number 67.
    210. Dan Stegarescu, 2009. "The effects of economic and political integration on fiscal decentralization: evidence from OECD countries," Canadian Journal of Economics, Canadian Economics Association, vol. 42(2), pages 694-718, May.

  69. Ugo Panizza, 1997. "Optimal Contracts for Central Bankers: Inflation versus Money Supply and Exchange Rate Targets," Open Economies Review, Springer, vol. 8(1), pages 5-29, January.

    Cited by:

    1. Roman Matousek, 2001. "Transparency and Credibility of Monetary Policy in Transition Countries: The Case of the Czech Republic," Archive of Monetary Policy Division Working Papers 2001/37, Czech National Bank.
    2. Roisland, Oistein, 2001. "Institutional Arrangements for Monetary Policy When Output Is Persistent," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(4), pages 994-1014, November.
    3. Thomas Willett, 1999. "Developments in the Political Economy of Policy Coordination," Open Economies Review, Springer, vol. 10(2), pages 221-253, May.

  70. Mitu Gulati & Ugo Panizza & W Mark C Weidemaier & Gracie Willingham, 0. "When Governments Promise to Prioritize Public Debt: Do Markets Care?," Journal of Financial Regulation, Oxford University Press, vol. 6(1), pages 41-74.
    See citations under working paper version above.

Chapters

  1. Luis Gonzalo Llosa & Ugo Panizza, 2020. "La gran depresión de la economía peruana: ¿Una tormenta perfecta?," Capítulos de libros, in: Nikita Céspedes Reynaga & Norman V. Loayza & Nelson R. Ramírez Rondán (ed.), Crecimiento económico en el Perú: causas y consecuencias, edition 1, volume 1, chapter 2, pages 39-73, Universidad de San Martín de Porres.
    See citations under working paper version above.
  2. Ugo Panizza, 2020. "Suggestions for further reading," CEPR Press Book Chapters, in: Sebastian Galliani & Ugo Panizza (ed.), Publishing and Measuring Success in Economics, edition 1, volume 1, chapter 1, pages 159-165, Centre for Economic Policy Research.

    Cited by:

    1. Adolfo Rodríguez Herrera, 2022. "Valor y medición del trabajo. El tiempo de trabajo socialmente necesario," Working Papers 202205, Universidad de Costa Rica, revised Sep 2022.
    2. Laura C. Blanco, 2022. "Diferenciales salariales de género y sus determinantes para el personal académico en propiedad en la Universidad de Costa Rica. (Gender wage differentials and its determinants for tenured academics at Universidad de Costa Rica)," Working Papers 202204, Universidad de Costa Rica, revised May 2022.

  3. Simeon Djankov & Ugo Panizza, 2020. "Developing economies after COVID-19: An introduction," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 8-23, Centre for Economic Policy Research.

    Cited by:

    1. Maria Francesca Renzi & Veronica Ungaro & Laura Di Pietro & Roberta Guglielmetti Mugion & Maria Giovina Pasca, 2022. "Agenda 2030 and COVID-19: A Young Consumer’s Perception of Sustainable Consumption," Sustainability, MDPI, vol. 14(23), pages 1-20, November.
    2. Patrick Ssekitoleko & Ifeanyi Mbukanma, 2022. "Advancing the Growth of Foreign Direct Investment Equity Inflow Amid Covid-19 Pandemic: An Exploratory Study of South Africa Context," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 11, November.
    3. Vicente Javier Clemente-Suárez & Stephanie Rodriguez-Besteiro & Juan José Cabello-Eras & Alvaro Bustamante-Sanchez & Eduardo Navarro-Jiménez & Macarena Donoso-Gonzalez & Ana Isabel Beltrán-Velasco & J, 2022. "Sustainable Development Goals in the COVID-19 Pandemic: A Narrative Review," Sustainability, MDPI, vol. 14(13), pages 1-26, June.
    4. Sławomir Kalinowski & Aleksandra Łuczak & Adam Koziolek, 2022. "The Social Dimension of Security: The Dichotomy of Respondents’ Perceptions during the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(3), pages 1-20, January.
    5. Schilirò, Daniele, 2024. "Finanza sostenibile e sistema di finanza pubblica sostenibile [Sustainable finance and sustainable public finance system]," MPRA Paper 120216, University Library of Munich, Germany.
    6. Beata Bieszk-Stolorz & Krzysztof Dmytrów, 2023. "Decent Work and Economic Growth in EU Countries—Static and Dynamic Analyses of Sustainable Development Goal 8," Sustainability, MDPI, vol. 15(18), pages 1-18, September.

  4. Patrick Bolton & Lee Buchheit & Pierre-Olivier Gourinchas & Mitu Gulati & Chang-Tai Hsieh & Ugo Panizza & Beatrice Weder di Mauro, 2020. "A debt standstill for developing and emerging market countries," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 317-328, Centre for Economic Policy Research.

    Cited by:

    1. Simeon Djankov & Ugo Panizza, 2020. "Developing economies after COVID-19: An introduction," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 8-23, Centre for Economic Policy Research.
    2. Henry Mooney & MariÌ a Alejandra Zegarra, 2020. "Extreme outlier: The pandemic’s unprecedented shock to tourism in Latin America and the Caribbean," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 112-126, Centre for Economic Policy Research.
    3. Gianluca Benigno & Andrew T. Foerster & Christopher Otrok & Alessandro Rebucci, 2020. "COVID-19: A double whammy of financial and economic sudden stops for emerging economies," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 329-341, Centre for Economic Policy Research.
    4. Davide Furceri & Prakash Loungani & Jonathan D. Ostry & Pietro Pizzuto, 2020. "Pandemics and inequality: Assessing the impact of COVID†19," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 200-213, Centre for Economic Policy Research.
    5. Calvin Z. Djiofack & Hasan Dudu & Albert G. Zeufack, 2020. "Assessing COVID-19’s economic impact in sub-Saharan Africa: Insights from a CGE model," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 53-68, Centre for Economic Policy Research.
    6. Christopher Woodruff, 2020. "The importance of protecting export-oriented firms," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 257-265, Centre for Economic Policy Research.
    7. Caroline Freund & Aaditya Mattoo & Alen Mulabdic & Michele Ruta, 2020. "The supply chain shock from COVID-19: Risks and opportunities," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 303-315, Centre for Economic Policy Research.
    8. Gbêtondji Melaine Armel Nonvide, 2020. "Policy for limiting the poverty impact of COVID-19 in Africa," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 214-219, Centre for Economic Policy Research.
    9. Charles Gottlieb & Jan GrobovsÌŒek & Markus Poschke & Fernando Saltiel, 2020. "Working from home: Implications for developing countries," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 242-256, Centre for Economic Policy Research.
    10. Rabah Arezki & Rachel Yuting Fan & Ha Nguyen, 2020. "Coping with a dual shock: A perspective from the Middle East and North Africa," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 69-85, Centre for Economic Policy Research.
    11. Giancarlo Corsetti & Simon Lloyd & Emile Marin, 2020. "Emerging market currency risk around ‘global disasters’: Evidence from the Global Financial Crisis and the COVID-19 crisis," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 342-352, Centre for Economic Policy Research.
    12. Paul Corral & Roberta Gatti, 2020. "Accumulation interrupted: COVID-19 and human capital among the young," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 286-302, Centre for Economic Policy Research.
    13. Rui Esteves & Nathan Sussman, 2020. "Corona spreads to emerging markets," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 362-373, Centre for Economic Policy Research.
    14. Swati Dhingra, 2020. "Policy for limiting the poverty impact of COVID-19 in Africa," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 220-228, Centre for Economic Policy Research.
    15. Abdul Abiad & Mia Arao & Editha Lavina & Reizle Platitas & Jesson Pagaduan & Christian Jabagat, 2020. "The impact of COVID-19 on developing Asian economies: The role of outbreak severity, containment stringency, and mobility declines," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 86-99, Centre for Economic Policy Research.
    16. Boris Hofmann & Ilhyock Shim & Hyun Song Shin, 2020. "Original sin redux and policy responses in emerging market economies during the COVID-19 pandemic," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 353-361, Centre for Economic Policy Research.
    17. Constantino Hevia & Andy Neumeyer, 2020. "A perfect storm: COVID-19 in emerging economies," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 25-37, Centre for Economic Policy Research.
    18. Luis Felipe CeÌ spedes & Roberto Chang & AndreÌ s Velasco, 2020. "Macroeconomic policy responses to a pandemic," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 175-186, Centre for Economic Policy Research.
    19. Margarita GoÌ mez & Andriy Ivchenko & Elena Reutskaja & Pablo Soto-Mota, 2020. "Behaviours, perceptions and mental wellbeing in high- income and low/middle-income countries at the beginning of COVID-19 pandemic," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 128-146, Centre for Economic Policy Research.
    20. Çagatay Bircan & Zsoka Koczan & Alexander Plekhanov, 2020. "Jobs at risk: Early policy responses to COVID-19 in emerging markets," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 230-241, Centre for Economic Policy Research.
    21. Simeon Djankov & Anne-Laure Kiechel, 2020. "The IMF and the World Bank can do more," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 374-385, Centre for Economic Policy Research.
    22. Cynthia Balloch & Simeon Djankov & Juanita Gonzalez-Uribe & Dimitri Vayanos, 2020. "A restart procedure to deal with COVID-19," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 266-276, Centre for Economic Policy Research.
    23. Simeon Djankov & Dorina Georgieva & Hibret Maemir, 2020. "Regulatory reforms after COVID†19," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 277-285, Centre for Economic Policy Research.
    24. Eduardo Levy Yeyati & Rodrigo ValdeÌ s, 2020. "COVID-19 in Latin America: How is it different than in advanced economies?," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 100-111, Centre for Economic Policy Research.
    25. Giovanni Valensisi, 2020. "COVID-19 and global poverty: A preliminary assessment," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 188-199, Centre for Economic Policy Research.
    26. Ilan Noy & Nguyen Doan & Benno Ferrarini & Donghyun Park, 2020. "The economic risk of COVID-19 in developing countries: Where is it highest?," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 38-52, Centre for Economic Policy Research.
    27. Nicolas Berman & Mathieu Couttenier & Nathalie Monnet & Rohit Ticku, 2020. "Conflict in times of COVID-19," CEPR Press Book Chapters, in: Simeon Djankov & Ugo Panizza (ed.), COVID-19 in Developing Economies, edition 1, volume 1, chapter 1, pages 147-156, Centre for Economic Policy Research.

  5. Ricardo Bebczuk & Arturo Galindo & Ugo Panizza, 2010. "An Evaluation of the Contractionary Devaluation Hypothesis," Palgrave Macmillan Books, in: Hadi Salehi Esfahani & Giovanni Facchini & Geoffrey J. D. Hewings (ed.), Economic Development in Latin America, chapter 8, pages 102-117, Palgrave Macmillan.
    See citations under working paper version above.
  6. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2007. "Currency Mismatches, Debt Intolerance, and the Original Sin: Why They Are Not the Same and Why It Matters," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 121-170, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  7. Alejandro Micco & Ugo Panizza, 2006. "Bank Concentration and Credit Volatility," World Scientific Book Chapters, in: Gerard Caprio Jr & Douglas D Evanoff & George G Kaufman (ed.), Cross-Border Banking Regulatory Challenges, chapter 12, pages 183-197, World Scientific Publishing Co. Pte. Ltd..
    See citations under working paper version above.

Books

  1. Agosin, Manuel R. & Urzúa, Sergio & Wagner, Rodrigo & Trejos, Alberto & De Olloqui, Fernando & Pietrobelli, Carlo & Rasteletti, Alejandro & Stein, Ernesto H. & Fernández-Arias, Eduardo & Crespi, Gusta, 2014. "¿Cómo repensar el desarrollo productivo?: Políticas e instituciones sólidas para la transformación económica," IDB Publications (Books), Inter-American Development Bank, number 6634.

    Cited by:

    1. Pablo Aníbal Beltrán Romero & Santiago Estuardo Pozo Rodríguez & Patricio Cárdenas Jaramillo, 2017. "Effectiveness Of State-Driven Productive Reconversion: A Case Study Of The Shift On Production Matrix In Ecuador," Journal of Smart Economic Growth, , vol. 2(2), pages 83-103, September.
    2. Butler, Ines & Giuliodori, David & Guiñazu, Sebastian & Martinez Correa, Julian & Rodríguez, Alejandro, 2017. "Programas de Financiamiento Productivo a pymes, acceso al crédito y desempeño de las firmas: Evidencia de Argentina [Productive programs for SMEs, access to credit and performance of firms: evidence from Argentina]," MPRA Paper 83524, University Library of Munich, Germany.

  2. Ernest Gnan & Ewald Nowotny & András Simor & Iain Begg & Andrew Bosomworth & Ugo Panizza & Elga Bartsch & Moritz Kraemer, 2013. "The Interaction of Political, Fiscal and Financial Stability: Lessons from the Crisis," SUERF Studies, SUERF - The European Money and Finance Forum, number 2013/1 edited by Ernest Gnan, January-J.

    Cited by:

    1. Trenovski, Borce & Tashevska, Biljana, 2016. "Fiscal Sustainability of Macedonia on its path towards the EU," MPRA Paper 76321, University Library of Munich, Germany, revised 2016.
    2. Taki Fiti & Biljana Tashevska, 2013. "The European Debt Crisis And Its Implications On The Macedonian Economy," Journal Articles, Center For Economic Analyses, pages 25-42, June.

  3. Eduardo Borensztein & Kevin Cowan & Barry Eichengreen & Ugo Panizza (ed.), 2008. "Bond Markets in Latin America: On the Verge of a Big Bang?," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262026325, December.

    Cited by:

    1. Opazo, Luis & Raddatz, Claudio & Schmukler, Sergio L., 2014. "Institutional investors and long-term investment : evidence from Chile," Policy Research Working Paper Series 6922, The World Bank.
    2. Dafe, Florence & Essers, Dennis & Volz, Ulrich, 2018. "Localising sovereign debt: the rise of local currency bond markets in sub‐Saharan Africa," LSE Research Online Documents on Economics 87636, London School of Economics and Political Science, LSE Library.
    3. Diego Alejandro Mart�nez Cruz & Jos� Fernando Moreno Guti�rrez & Juan Sebasti�n Rojas Moreno, 2015. "Evoluci�n de la relaci�n entre bonos locales y externos del gobierno colombiano frente a choques de riesgo," Borradores de Economia 14112, Banco de la Republica.
    4. John C. Edmunds & Frederic Chartier, 2015. "Latin American Economic Growth," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 7(1), pages 21-27, January.
    5. Diego Alejandro Martínez Cruz & José Fernando Moreno Gutiérrez & Juan Sebastián Rojas Moreno, 2015. "Evolución de la relación entre bonos locales y externos del gobierno colombiano frente a choques de riesgo," Borradores de Economia 919, Banco de la Republica de Colombia.
    6. Tsoukas, Serafeim, 2011. "Firm survival and financial development: Evidence from a panel of emerging Asian economies," Journal of Banking & Finance, Elsevier, vol. 35(7), pages 1736-1752, July.
    7. Al-Raeai, Arafat Mansoor & Zainol, Zairy & Abdul Rahim, Ahmad Khilmy, 2019. "The Influence of Macroeconomics Factors and Political Risk on the Sukuk Market Development in Selected GCC Countries: A Panel Data Analysis," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 53(2), pages 199-211.
    8. Luis Opazo & Claudio Raddatz & Sergio L Schmukler, 2010. "The Long and the Short of Emerging Market Debt," Working Papers 42, Superintendencia de Pensiones, revised Jun 2010.
    9. Mr. Yibin Mu & Mr. Peter Phelps & Ms. Janet Gale Stotsky, 2013. "Bond Markets in Africa," IMF Working Papers 2013/012, International Monetary Fund.
    10. Julian Kozlowski, 2017. "Long-Term Finance and Economic Development: The Role of Liquidity in Corporate Debt Markets," 2017 Meeting Papers 699, Society for Economic Dynamics.
    11. García-Verdú Santiago, 2011. "On the Term Structure of Interest Rates of the Mexican Government," Working Papers 2011-18, Banco de México.
    12. Serkan Arslanalp & Tigran Poghosyan, 2016. "Foreign Investor Flows and Sovereign Bond Yields in Advanced Economies," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(6), pages 45-67, June.
    13. A. Fatas & Mr. Atish R. Ghosh & Ugo Panizza & Mr. Andrea F Presbitero, 2019. "The Motives to Borrow," IMF Working Papers 2019/101, International Monetary Fund.
    14. Allen, Franklin & Qian, Jun & Carletti, Elena & Valenzuela, Patricio, 2012. "Financial Intermediation, Markets, and Alternative Financial Sectors," Working Papers 12-05, University of Pennsylvania, Wharton School, Weiss Center.
    15. Porzecanski, Arturo C., 2009. "Latin America: the missing financial crisis," Studies and Perspectives – ECLAC Office in Washington 5069, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    16. Forslund, Kristine & Lima, Lycia & Panizza, Ugo, 2011. "The determinants of the composition of public debt in developing and emerging market countries," POLIS Working Papers 156, Institute of Public Policy and Public Choice - POLIS.
    17. Barry Eichengreen & Ayden Chi, 2026. "What Determines the Ratings Gap Between Local and Foreign Currency Debt?," Open Economies Review, Springer, vol. 37(3), pages 839-859, July.
    18. Ilan Goldfajn & Lorenza Martínez & Rodrigo O. Valdés, 2021. "Washington Consensus in Latin America: From Raw Model to Straw Man," Journal of Economic Perspectives, American Economic Association, vol. 35(3), pages 109-132, Summer.
    19. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2023. "Yet it Endures: The Persistence of Original Sin," Open Economies Review, Springer, vol. 34(1), pages 1-42, February.
    20. Paul Mizen & Serafeim Tsoukas, 2012. "What Promotes Greater Use of the Corporate Bond Market? A Study of the Issuance Behaviour of Firms in Asia," Discussion Papers 12/17, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    21. Kowalewski, Oskar & Pisany, Paweł, 2019. "What drove the growth of the corporate bond markets in Asia?," Research in International Business and Finance, Elsevier, vol. 48(C), pages 365-380.
    22. Juan Camilo Mejía-Escobar & Juan David González-Ruiz & Giovanni Franco-Sepúlveda, 2021. "Current State and Development of Green Bonds Market in the Latin America and the Caribbean," Sustainability, MDPI, vol. 13(19), pages 1-25, September.
    23. Syed Kumail Abbas Rizvi & Bushra Naqvi & Nawazish Mirza, 2014. "From Fear of Floating to Benign Neglect: The Exchange Rate Regime Roller Coaster in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 19(Special E), pages 17-34, September.
    24. Noor Nahar Begum & Md Aktar Kamal, 2018. "Exploring the Key Factors Affecting Development of Bond Market in Bangladesh: An Application of Exploratory Factor Analysis (EFA)," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 8(5), pages 266-275.
    25. Taguchi, Hiroyuki, 2019. "The bond market development in Mongolia among Asian countries," MPRA Paper 95123, University Library of Munich, Germany.
    26. Jose Maria Serena & Marina‐Eliza Spaliara & Serafeim Tsoukas, 2022. "International bank credit, nonbank lenders, and access to external financing," Economic Inquiry, Western Economic Association International, vol. 60(3), pages 1214-1232, July.
    27. Mr. Jiaqian Chen & Patrick A. Imam, 2011. "Causes of Asset Shortages in Emerging Markets," IMF Working Papers 2011/114, International Monetary Fund.
    28. Smaoui, Houcem & Grandes, Martin & Akindele, Akintoye, 2017. "The Determinants of Bond Market Development: Further Evidence from Emerging and Developed Countries," Emerging Markets Review, Elsevier, vol. 32(C), pages 148-167.
    29. Essers, Dennis & Blommestein, Hans & Cassimon, Danny & Ibarlucea Flores, Perla, 2014. "Local currency bond market development in Sub-Saharan Africa: a stock-taking exercise and analysis of key drivers," IOB Working Papers 2014.08, Universiteit Antwerpen, Institute of Development Policy (IOB).
    30. Asian Development Bank Institute, 2017. "Asia Bond Monitor - November 2016," Working Papers id:11732, eSocialSciences.
    31. Ahmad, Wasim & Mishra, Anil V. & Daly, Kevin J., 2018. "Financial connectedness of BRICS and global sovereign bond markets," Emerging Markets Review, Elsevier, vol. 37(C), pages 1-16.
    32. Ayala, Diana & Nedeljkovic, Milan & Saborowski, Christian, 2016. "What slice of the pie? The corporate bond market boom in emerging economies," BOFIT Discussion Papers 8/2016, Bank of Finland Institute for Emerging Economies (BOFIT).
    33. Fernández Tucci, Candelaria, 2023. "Original sin and South-South cooperation: Insights for the Mercosur from the experience of the Asian Bond Market Initiative," IPE Working Papers 214/2023, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    34. Jamel Boukhatem, 2021. "What drives local currency bond market development in Saudi Arabia: do macroeconomic and institutional factors matter?," Future Business Journal, Springer, vol. 7(1), pages 1-18, December.
    35. Gonzalo Varela, 2011. "A Framework to Analyze the Impact of Exchange Rate: Uncertainty on Output Decisions," Working Paper Series 2411, Department of Economics, University of Sussex Business School.
    36. Kathrin Berensmann & Florence Dafe & Ulrich Volz, 2015. "Developing local currency bond markets for long-term development financing in Sub-Saharan Africa," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 31(3-4), pages 350-378.
    37. Eduardo Fernandes Cazassa, 2015. "O Mercado Brasileiro de Securitização Imobiliária: uma análise comparativa de spreads," LARES lares_2015_1181-1365-1-rv, Latin American Real Estate Society (LARES).
    38. Avellaneda-Kantt, Maria Belen, 2012. "Perspectiva Macroeconomica y Tendencias en el Mercado de Deuda Latinoamericano: ¿El viraje hacia instrumentos de Fondeo Domesticos? [Macroeconomic Outlook and Trends in Latin American Debt Capital Markets: A turn to domestic sources of funding?]," MPRA Paper 44271, University Library of Munich, Germany, revised 16 Jan 2013.
    39. Ms. Diana B Ayala Pena & Milan Nedeljkovic & Christian Saborowski, 2015. "What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies," IMF Working Papers 2015/148, International Monetary Fund.
    40. Jiménez-Sotelo, Renzo A., 2023. "La influencia del mercado de deuda pública interna en el desarrollo financiero: evidencia de 52 países en 1990-2020," El Trimestre Económico, Fondo de Cultura Económica, vol. 90(359), pages 773-804, julio-sep.
    41. Juan J. Cortina & Tatiana Didier & Sergio L. Schmukler, 2017. "Corporate Debt Maturity in Developing Countries: Sources of Long- and Short-Termism," Mo.Fi.R. Working Papers 142, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    42. Fløgstad, Cathrin, 2017. "Domestic bond markets in emerging economies: Crowding in or crowding out?," Working Papers in Economics 15/17, University of Bergen, Department of Economics.

  4. Galindo, Arturo & Scartascini, Carlos & Payne, J. Mark & Daughters, Robert & Melo, Alberto & Echebarría, Koldo & Lora, Eduardo & Filc, Gabriel & Micco, Alejandro & Chong, Alberto E. & Panizza, Ugo & B, 2007. "The State of State Reform in Latin America," IDB Publications (Books), Inter-American Development Bank, number 352.

    Cited by:

    1. Hallerberg, Mark & Scartascini, Carlos, 2015. "Explaining Changes in Tax Burdens in Latin America: Does Politics Trump Economics?," IDB Publications (Working Papers) 7205, Inter-American Development Bank.
    2. von Schiller, Armin, 2015. "Party System Institutionalization and Reliance on Personal Income Tax in Developing Countries," IDB Publications (Working Papers) 7351, Inter-American Development Bank.
    3. Eduardo Lora, 2008. "El futuro de los pactos fiscales en América Latina," Research Department Publications 4614, Inter-American Development Bank, Research Department.
    4. Alaimo, Veronica & Cafagna, Gianluca & Elacqua, Gregory & Giles Álvarez, Laura & Izquierdo, Alejandro & Keefer, Philip & Martínez Von der Fecht, Matías & Vuletin, Guillermo & Moreno-Serra, Rodrigo & P, 2018. "Better Spending for Better Lives: How Latin America and the Caribbean Can Do More with Less," IDB Publications (Books), Inter-American Development Bank, number 9152.
    5. Lydia FRAILE, 2009. "Lessons from Latin America's neo-liberal experiment: An overview of labour and social policies since the 1980s," International Labour Review, International Labour Organization, vol. 148(3), pages 215-233, September.
    6. John C. Edmunds & Frederic Chartier, 2015. "Latin American Economic Growth," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 7(1), pages 21-27, January.
    7. Campos, Nauro F. & De Grauwe, Paul & Ji, Yuemei, 2017. "Structural Reforms, Growth and Inequality: An Overview of Theory, Measurement and Evidence," IZA Discussion Papers 11159, IZA Network @ LISER.
    8. Campos, Nauro F. & De Grauwe, Paul & Ji, Yuemei, 2025. "Structural reforms and economic performance: the experience of advanced economies," LSE Research Online Documents on Economics 120870, London School of Economics and Political Science, LSE Library.
    9. Rodrigo Cubero & Ivanna Vladkova Hollar, 2010. "Equity and Fiscal Policy: The Income Distribution Effects of Taxation and Social Spending in Central America," IMF Working Papers 2010/112, International Monetary Fund.
    10. Eduardo Wiesner, 2011. "Colombia: la percepci√≥n de justicia distributiva y la demanda pol√≠tica por estabilidad macroecon√≥mica," Documentos CEDE 8739, Universidad de los Andes, Facultad de Economía, CEDE.
    11. Cornel Ban, 2013. "Brazil's liberal neo-developmentalism: New paradigm or edited orthodoxy?," Review of International Political Economy, Taylor & Francis Journals, vol. 20(2), pages 298-331, April.
    12. Bruno Martorano, 2014. "Pre-crisis Conditions and Government Policy Responses: Chile and Mexico during the Great Recession," Papers inwopa729, Innocenti Working Papers.
    13. Eduardo Lora & Deisy Johanna Fajardo, 2012. "Employment and Taxes in Latin America: An Empirical Study of the Effects of Payroll, Corporate Income and Value-Added Taxes on Labor Outcomes," Research Department Publications 4791, Inter-American Development Bank, Research Department.
    14. Scartascini, Carlos, 2013. "Tax Reforms in Latin America in an Era of Democracy," IDB Publications (Working Papers) 4693, Inter-American Development Bank.
    15. Nora Lustig & Sean Higgins, 2012. "Commitment to Equity Assessment (CEQ): Estimating the Incidence of Social Spending, Subsidies and Taxes Handbook," Working Papers 1219, Tulane University, Department of Economics.
    16. Alvaro CUERVO-CAZURRA & Luis Alfonso DAU, 2008. "Structural Reform And Firm Profitability In Developing Countries," William Davidson Institute Working Papers Series wp940, William Davidson Institute at the University of Michigan.
    17. Devlin, Robert & Moguillansky, Graciela, 2012. "What's new in the new industrial policy in Latin America ?," Policy Research Working Paper Series 6191, The World Bank.
    18. Carlos Caceres & Mr. Serhan Cevik & Mr. Marco Committeri & Mr. Borja Gracia, 2013. "The Day After Tomorrow: Designing an Optimal Fiscal Strategy for Libya," IMF Working Papers 2013/079, International Monetary Fund.
    19. Scartascini, Carlos & Ardanaz, Martín, 2013. "The Economic Effects of Constitutions: Do Budget Institutions Make Forms of Government More Alike?," IDB Publications (Working Papers) 4604, Inter-American Development Bank.
    20. Hallerberg, Mark & Scartascini, Carlos, 2011. "Economic Crisis and Fiscal Reforms in Latin America," IDB Publications (Working Papers) 3092, Inter-American Development Bank.
    21. Judit Ricz, 2015. "Towards a new model of state-led development in Brazil (?)," IWE Working Papers 215, Institute for World Economics - Centre for Economic and Regional Studies.
    22. Eduardo Wiesner, 2008. "The Political Economy of Macroeconomic Policy Reform in Latin America," Books, Edward Elgar Publishing, number 12913.
    23. Giovanni Andrea Cornia & Juan Carlos Gómez-Sabaini & Bruno Martorano, 2011. "A New Fiscal Pact, Tax Policy Changes and Income Inequality: Latin America During the Last Decade," WIDER Working Paper Series wp-2011-070, World Institute for Development Economic Research (UNU-WIDER).
    24. Carlos Scartascini & Ernesto Stein & Mariano Tommasi, 2008. "Political Institutions, State Capabilities and Public Policy - International Evidence," Research Department Publications 4608, Inter-American Development Bank, Research Department.
    25. Alejandro Bonvecchi & Carlos Scartascini, 2011. "The Presidency and the Executive Branch in Latin America: What We Know and What We Need to Know," Research Department Publications 4756, Inter-American Development Bank, Research Department.
    26. Dalle Nogare, Chiara & Ricciuti, Roberto, 2011. "Do term limits affect fiscal policy choices?," European Journal of Political Economy, Elsevier, vol. 27(4), pages 681-692.
    27. Alejandra Mizala & Pilar Romaguera & Sebastian Gallegos, 2010. "Public-Private Wage Gap In Latin America (1999-2007): A Matching Approach," Documentos de Trabajo 268, Centro de Economía Aplicada, Universidad de Chile.
    28. Mauricio Cardenas & Didem Tuzemen, 2011. "Under-investment in state capacity: the role of inequality and political instability," Research Working Paper RWP 11-07, Federal Reserve Bank of Kansas City.
    29. Marcus Melo & Carlos Pereira & Saulo Souza, 2010. "The Political Economy of Fiscal Reform in Brazil: The Rationale for the Suboptimal Equilibrum," Research Department Publications 4655, Inter-American Development Bank, Research Department.
    30. Bunse, Simone & Fritz, Verena, 2012. "Making public sector reforms work : political and economic contexts, incentives, and strategies," Policy Research Working Paper Series 6174, The World Bank.
    31. Giovanni Andrea Cornia & Juan Carlos Gómez-Sabaini & Bruno Martorano, 2012. "A New Fiscal Pact, Tax Policy Changes and Income Inequality," Working Papers - Economics wp2012_03.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    32. Mr. Serhan Cevik, 2011. "Policy Coordination in Fiscal Federalism: Drawing Lessons From the Dubai Debt Crisis," IMF Working Papers 2011/147, International Monetary Fund.
    33. Salo V. Coslovsky, 2014. "Flying Under the Radar? The State and the Enforcement of Labour Laws in Brazil," Oxford Development Studies, Taylor & Francis Journals, vol. 42(2), pages 190-216, June.

  5. Kiguel, Miguel A. & Levy Yeyati, Eduardo & Galindo, Arturo & Panizza, Ugo & Miller, Margaret & Rojas-Suárez, Liliana & Bebczuk, Ricardo N. & López-de-Silanes, Florencio & Bernal, Olver & Auerbach, Pau, 2005. "Unlocking Credit: The Quest for Deep and Stable Bank Lending. Economic and Social Progress in Latin America. 2005 Report," IDB Publications (Books), Inter-American Development Bank, number 416.

    Cited by:

    1. Sebastián Auguste & Ricardo N. Bebczuk & Ramiro Moya, 2011. "The Demand for Mortgages under Macro Volatility: The Argentine Case," Research Department Publications 4751, Inter-American Development Bank, Research Department.
    2. Maria Angelica Arbelaez & Carolina Camacho & Deisy Johanna Fajardo, 2011. "Low-Income Housing Finance in Colombia," Research Department Publications 4738, Inter-American Development Bank, Research Department.
    3. Mario Cuevas & Sigfrido Lee & Maria Isabel Bonilla, 2011. "The Missing Foundations of Housing Finance: Incomplete Markets, Fragmented Policies and Emerging Solutions in Guatemala," Research Department Publications 4750, Inter-American Development Bank, Research Department.
    4. Arbeláez, María Angélica & Steiner, Roberto & Becerra, Alejandro & Wills, Daniel, 2011. "Housing Tenure and Housing Demand in Colombia," IDB Publications (Working Papers) 3809, Inter-American Development Bank.
    5. Christiano A. Coelho & João Manoel Pinho de Mello & Leonardo Rezende, 2007. "Are Public Banks pro-Competitive? Evidence from Concentrated Local Markets in Brazil," Textos para discussão 551, Department of Economics PUC-Rio (Brazil), revised Sep 2007.

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