measures, the financial globalization index corrects for the heteroscedasticity of global volatility. This leads to a downward … globalization reduces market volatility (measured by the volatility of stock returns) in tranquil times, and increases it in … turbulent ones. On average, the first effect dominates, so that financial globalization leads to a decrease in market volatility …

system on volatility in gross domestic product per capita and consumption per capita growth. It also examines the impact of … volatility even after controlling for the quality of institutions and periods of financial crises. In large financial systems …, finance may not help individuals smooth consumption volatility. The threshold at which finance's effect may be volatility …

This paper presents estimates of the effects that terms of trade volatility has on growth of real gross domestic … that: (i) in model specifications that do not include country fixed effects, terms of trade volatility has a significant … terms of trade volatility on economic growth is not significantly different from zero; (iii) robust to the inclusion of …

-- run growth and another studying its impact on volatility and crisis?has given way to a more nuanced approach that analyzes … large share of the world economy. Recognizing the intrinsic trade-offs of financial development can provide a useful …

, the volatility of growth and the volatility of trade flows tend to move together; they declined from the 1990s until 2009 …, followed by an increase since 2009. This paper explores the drivers of such movements in trade-flow volatility. The analysis … decomposes trade growth into six components to study their contribution to the overall volatility of trade flows, and presents …

This paper examines how the ability to access long-term debt affects firm-level growth volatility. The analysis finds … growth volatility in countries with better-developed financial systems, as these firms may benefit from reduced refinancing … risk and therefore growth volatility associated with short-term financing. Increased availability of long-term finance …

The author examines the impact of the volatility of foreign portfolio investment on the financial constraints of small …, the author finds that the volatility of foreign portfolio investment is only significantly associated with a decreased … volatility of foreign portfolio investment only hinders the growth of small firms significantly in periods when nations are …

Between 1999 and 2008, world oil prices more than quadrupled in real terms. For oil importers, vulnerability to oil … domestic product. Oil intensity fell in more than half the countries in every income group and in every region of the world … pass-through to consumers of increases in world prices of gasoline, diesel, kerosene, and liquefied petroleum gas between …

For individual countries, variable trade barriers can be used to reduce the volatility of domestic relative to world … prices. If this is done by countries accounting for a large share of the market, its effect is offset by increases in world … price volatility. This study shows the nature of the resulting collective action problem, with the policy being ineffective …