A large share of global trade being priced and invoiced primarily in US dollar rather than the exporter's or the importer's currency has important implications for the transmission of shocks. We introduce this "dominant currency pricing" (DCP) into...

We analyze the international transmission of financial stress and its effects on global economic activity. Our analysis is based on country-specific monthly financial stress indices (FSIs) over the sample period 1970-2012 for 20 major economies....

A large share of global trade being priced and invoiced primarily in US dollar rather than the exporter's or the importer's currency has important impli

We ask whether production related subsidies have a role to play in explaining Chinese firms’ export performance. We, firstly, implement an estimation approach that allows for both direct and indirect (“spillover”) effects of the subsidy on the...

The attraction of foreign direct investment (FDI) is considered to be of particular importance for emerging economies because it represents a channel through which international convergence in standards of living may be achieved. One important effect...

KBW 11: Der international häufig kritisierte deutsche Leistungsbilanzüberschuss bleibt auf absehbare Zeit sehr hoch. Die Autoren sehen für die deutsche Polit

The literature on drivers of capital flows stresses the prominent role of global financial factors. Recent empirical work, however, highlights how this

In light of the surge in large-scale farms in developing countries, concerns have been raised that smallholders may be negatively affected. There is, however, very little evidence beyond case studies to support these claims. Drawing on nationally...

This paper analyzes the horizontal productivity effects of foreign direct investment (FDI) from industrialized and developing countries in 10 sub-Saharan African countries. We establish a unique data set by combining data from the World Bank...

The paper investigates the determinants of Internet adoption in poor countries, focusing on the role of macro-geographic location (neighborhood). It is argued that neighboring countries are interconnected by various kinds of spillovers, including...