Correspondent banks allow local banks in emerging markets to access the international payments system. This helps local banks to make cross-border payments, clear currencies, and provide trade finance. The recent retrenchment of global correspondent banks following the increased costs of...

This paper investigates the impact of organ trafficking on local conflict using georeferenced data on conflict events and hand-collected data on local transplant infrastructure in eight countries known for illegal transplanting. I exploit exogenous variation in kidney demand measured by the...

We exploit proprietary information on severed correspondent banking relationships - due to the stricter enforcement of financial crime regulation - to assess how payment disruptions impede cross-border trade. Using firm-level export data from emerging Europe, we show that when local respondent...