This paper investigates the impact of trade-related illicit financial flows (IFFs) on tropical deforestation. To adjust for pre-exposure differences in deforestation rates between countries exposed to IFFs and their counterfactuals, this study adopts propensity score matching and doubly robust...

Using two decades of granular data on foreign direct investments, this study shows a consistent global rise in the concentration of cross-border investments within fewer multinational firms. This concentration is most prominent in developing economies, reaching record highs in recent years....

This paper examines the extent to which fiscal policy protected household incomes in the second year of the COVID-19 pandemic in EU countries. Using microsimulation techniques and detailed Eurostat data, we analyse this impact separately for employees and the selfemployed. We show that while on...

Purpose The purpose of this paper is to focus on managing the risk of fraud in commercial letters of credit (LC) in Bangladesh involving three parties: the seller, the buyer and the bank. It addresses the severity of LC fraud, the banks’ actions when detected and the preventive measures the...

Purpose This study aims to investigate the relationship between political instability and the performance of Islamic banks in emerging countries. Design/methodology/approach For a data sample of 93 Islamic banks in 20 emerging countries during the period from 2011 to 2016, the authors identify...

Purpose Healthcare property has become an important alternate property sector in recent years for many international institutional investors. The purpose of this paper is to assess the risk-adjusted performance, portfolio diversification benefits and performance dynamics of French healthcare...

There is a large professional literature on the correct measurement of the funded status of and indicated employer contributions to government employee pension plans. But static measures do not provide a quantification of the risk that plans could represent in the future in various possible...

This study examines the role of the Chinese renminbi (RMB) as an international anchor currency. After China abandoned its tight US dollar (USD) peg in 2005, the RMB found greater popularity as a reserve currency. This change in the RMB's role reflected China's growing presence in the global...

This research investigates the role of political settlements in industrial policy, either facilitating or hindering capability development and structural transformation. The Global South’s power relations and institutions within policy processes, however, are not properly grasped. With the...

*** You can read, quote, reference and link this working paper, but you cannot reproduce or post it in any form unless permitted in writing by the authors ***** The war that started in 2023 between Hamas and Israel is driven by various long-lasting processes, but it also brings to the fore a new...