In recent years, many jurisdictions have developed sustainability taxonomies that aim to increase transparency of financial markets and redirect capital flows to sustainable investments. Such sustainable finance policies can be important levers because today's investments shape economic...

To bring our economies on a path to climate neutrality, investments in carbon-intensive production processes have to stop. At the same time, we need to mobilise large amounts of capital for investments conducive to a just transition. Reforming the financial sector in a way that allows this...

In recent years, the Group of Seven (G7) and Group of Twenty (G20) have placed increasing emphasis on gender equality. As part of this focus, the member states of both institutions have set out a series of objectives aimed at advancing gender equality. This report examines the degree to which...

The market for social financial instruments is rapidly growing. The issuance of social bonds, for instance, reached $149.4 billion in 2020, showing an extraordinary growth of 720% compared to 2019 (ADB, 2021, p. 14). By providing capital for certain types of investments associated with positive...

This study provides early ex‐post empirical evidence on the effects of provisionally applied Economic Partnership Agreements (EPAs) on trade flows between the European Union (EU) and the African, Caribbean and Pacific Group of States (ACP). Employing the gravity model of trade, we do not find...

I incorporate imperfect capital markets in a standard neoclassical model of economic growth to analyze the long run effect of capital market globalization for develping countries. In autarky, domestic savings are invested and Solow-type growth emerges. In contrast, when a country that lags...

This paper analyzes the determinants of people s attitudes towards FDI using a survey-based data set that covers a wide range of rich and poor countries. We find that both individual socioeconomic characteristics and macroeconomic factors shape agents attitudes towards multinational firms....

This paper gives a new answer to the old question of whether international trade and capital flows are substitutes or complements. In contrast to conventional intuition, we show that when Heckscher-Ohlin trade takes place in high-skill and low-skill intensive goods, this does create incentives...

Governments use tax expenditures to boost investment, innovation and employment. However, these schemes are largely opaque, costly and often ineffective in reaching their stated goals. They also frequently trigger unwanted side effects. In order to improve the performance of these tools, the...

Blockchain technology (BT), famous due to its use in digital currencies, also offers new opportunities in other fields, one of which is trade integration. Developing countries especially could benefit from greater trade integration with BT, as the technology can, for example, remedy deficiencies...