Aug 2015
Author(s): Pimenta, Carlos; Pessoa, Mario; Varea, Marco; Arosteguiberry, Adriana; Williams, Mike; Fainboim Yaker, Israel; de Albuquerque, Claudiano; Vargas, José Adrián; Cavanagh, Joseph; Almudena Fernández, Benito; Chan, James L.; Uña, Gerardo; Rezai, Natalia
The efficiency, effectiveness, and transparency of public financial management in Latin America is critical for the supervision of public resources, fiscal stability, and sustainable economic…
Aug 2015
Author(s): Pimenta, Carlos; Pessoa, Mario; Varea, Marco; Arosteguiberry, Adriana; Williams, Mike; Fainboim Yaker, Israel; de Albuquerque, Claudiano; Vargas, José Adrián; Cavanagh, Joseph; Almudena Fernández, Benito; Chan, James L.; Uña, Gerardo; Rezai, Natalia
La eficiencia, la eficacia y la transparencia de la gestión financiera pública en América Latina son fundamentales para la supervisión de los recursos públicos, la estabilidad fiscal y el desarrollo…
Jul 2014
Author(s): Bebczuk, Ricardo N.; Cavallo, Eduardo A.
This paper investigates the relevance of business saving for private saving and investment around the world by constructing and exploiting a broad international, unbalanced panel of 64 countries over…
Aug 2013
Author(s): Tavella, Pilar; Pedemonte, Mathieu; Powell, Andrew; Cavallo, Eduardo A.
This paper proposes a new taxonomy of Sudden Stops comprised of seven categories with definitions depending on the behavior of gross and net capital flows. The incidence of different types of Sudden…
Jun 2009
Author(s): Arizala, Francisco; Cavallo, Eduardo A.; Galindo, Arturo
This paper estimates the impact of financial development on industry-level total factor productivity (TFP) growth using a largely unexploited panel of 77 countries with data for 26 manufacturing…
Nov 2008
Author(s): Cavallo, Eduardo A.; Powell, Andrew; Rigobón, Roberto
If rating agencies add no new information to markets, their actions are not a public policy concern. But as rating changes may be anticipated, testing whether ratings add value is not straightforward…
Apr 2007
Author(s): Cavallo, Eduardo A.; Valenzuela, Patricio
This study explores the determinants of corporate bond spreads in emerging market economies. Using a largely unexploited dataset, the paper finds that corporate bond spreads are determined by firm-…
Dec 2006
Author(s): Cavallo, Eduardo A.
Financial stability is an important policy objective, since crises are associated with large economic, social and political costs. This paper contributes to the discussion by providing new…
Nov 2006
Author(s): Cavallo, Eduardo A.; Velasco, Andrés
The paper explores the incidence of sudden stops in capital flows on the incentives for building national institutions that secure property rights in a world where sovereign defaults are possible…