Aug 2016
Author(s): Caballero, Julián; Fernandez, Andres; Park, Jongho
This paper studies the influence of external financial factors on economic activity in emerging economies (EMEs) motivated by a considerable increase in foreign financing by the corporate sector in…
May 2016
Author(s): Caballero, Julián; Panizza, Ugo; Powell, Andrew
Recent work suggests non-financial firms have acted like financial intermediaries particularly in emerging economies. This paper corroborates these findings but then asks "why?" The results…