We trace the history of where and why investors from the most advanced countries directed funds, ultimately helping finance economic development in emerging market countries. To do this, we analyze the determinants of international investors' willingness to hold the external liabilities issued...

What determines the yields at which international investors are willing to lend to emerging market countries, and the amounts of such lending? We analyze the motivation underlying investors' choices in allocating their holdings across countries, through regressions for both prices (bond yields)...

Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as...

What determines the composition of external liabilities, both across countries and over time? More specifically, which countries account for the massive increase in equity-like liabilities (foreign direct investment and portfolio equity), especially since the mid-1990s? The empirical analysis...

What determines the composition of external liabilities, both across countries and over time? More specifically, which countries account for the massive increase in equity-like liabilities (foreign direct investment and portfolio equity), especially since the mid 1990s? The empirical analysis...

A widespread view holds that countries that finance themselves through foreign direct investment (FDI) and portfolio equity, rather than bonds and loans, are less prone to crises. But what determines countries' external capital structures? In a cross section of emerging markets and developing...

Advanced computer models are commonly used to simulate reservoir system's performance. If the number of possible management scenarios is large, it can be extremely difficult to follow related system's operation and get a valuable picture on its spatial and temporal behavior. The decision maker...

The German economy has recently lost momentum but is anticipated to accelerate markedly in the course of 2013. On annual average, real GDP will increase by 0.9 percent; the corresponding figure for 2012 is expected to be 0.8 percent. During the course of 2013, however, expansion will accelerate...

The German economy continues to recover, and will grow by 2.2 percent in 2015. With slightly abated increases, the annual growth rate will be 1.9 percent in 2016. Driven by this favorable economic development, the unemployment rate will further decline, to 6.4 percent this year and 6.1 percent...