The present study examines the dynamics and regulatory regimes of commodity derivatives markets through time. The historical perspective allows to identify the reasons behind the use of derivatives and the impact of changing rules on financial systems. It further permits to highlight the...

Political economy scholarship generally assumes that governments are interested in enforcing economic regulations. Cases of non-enforcement are predominantly studied in the context of developing countries and are chiefly associated with states' deficient institutional capacity. This article...

Comprehensive granular data on firms' access to international credit markets and its determinants is instrumental in answering a wide set of questions in international macroeconomics and finance. We describe how to put together data on primary market issuance and secondary market pricing, how to...

Economic research has shown that debt markets have an information sensitivity property that allows these markets to work properly when price discovery is absent and opaqueness is maintained. Dang, Gorton and Holmström (2015) argue that sufficiently 'bad news' can switch debt to become...

Securitization offers a range of benefits for Asia's financial systems and economies as a mechanism to assist funding and investment. As a form of structured finance, reliable and efficient securitization can assist development by enabling financial systems to deepen and strengthen - thus...

Can comparative capitalism (CC) assist us in understanding both the rise and the current challenges of emerging market capitalism? This article applies analytical instruments developed in CC scholarship on emerging markets to address this question. During the last two decades, CC scholarship -...

Objective: The purpose of this paper is to identify the understanding and strategic importance of the country of origin (COO) and its dimensions from the perspective of the emerging market firms. Methods: A qualitative approach was applied using in-depth interviews with 11 informants from owners...

This study analyzes five of the well-known and most cited distress prediction models in the literature. The models are implemented to continuous publicly listed industrial firms in Turkey through their original and re-estimated coefficients in a comparative way to examine their generalizability...

Monetary policy decisions by the Federal Reserve System in the US are widely recognised to have spillover effects on the rest of the world. In this paper, we focus on the asymmetric effects of US monetary policy shocks on macro-financial outcomes in emerging market economies (EMEs). We shed...

This paper examines the asymmetry in global spillovers from Fed policy across tightening versus easing episodes several examples of which have been on display since the global financial crisis (GFC). We build a dynamic general equilibrium model featuring: (i) occasionally binding collateral...