We study empirically if countries that default on their debt experience a reduction in their capital inflows as suggested by the literature. Our data contains information on (i) the defaulter countries and their creditors and (ii) bilateral foreign direct investment (FDI) flows. With this we can...

In recent years, economic growth in Chile has experienced a marked slowdown in comparison to the so called "golden period" of the 1990s. The fact that this decrease in growth has taken place amidst extremely favorable external conditions that in the past would have led to much higher growth has...

An objective of IMF-supported programs is to help countries improve their access to international capital markets. In this paper, we examine the issue whether IMF-supported programs influence the ability of developing country issuers to tap international bond markets and whether they improve...

In this paper we study the effect of NAFTA on the responsiveness of Mexican economy toreal exchange rate shocks. We argue that, by opening the U.S. and Canadian markets toMexican goods, NAFTA made it easier for domestic producers to take advantage of theopportunities brought by the depreciation...

In this paper we study the effect of NAFTA on the responsiveness of Mexican economy to real exchange rate shocks. We argue that, by opening the U.S. and Canadian markets to Mexican goods, NAFTA made it easier for domestic producers to take advantage of the opportunities brought by the...

While the global economic environment has changed considerably from end-2011 to the present for advanced and emerging economies alike, the themes and policy issues addressed by these papers share a timeless dimension. Collectively, the studies that comprise this volume deal with various aspects...

In this paper we study the effect of NAFTA on the responsiveness of the Mexican economy to real exchange rate shocks. We argue that, by opening the U.S. and Canadian markets to Mexican goods, NAFTA made it easier for domestic producers to take advantage of the opportunities brought by the...