We find that data transparency policy reforms, reflected in subscriptions to the IMF's Data Standards Initiatives (SDDS and GDDS), reduce the spreads of emerging market sovereign bonds. To overcome endogeneity issues regarding a country's decision to adopt such reforms, we first show that the...

We find that data transparency policy reforms, reflected in subscriptions to the IMF's Data Standards Initiatives (SDDS and GDDS), reduce the spreads of emerging market sovereign bonds. To overcome endogeneity issues regarding a country's decision to adopt such reforms, we first show that the...

I document that US financial uncertainty shocks, measured by an unexpected increase in VIX, have a substantial impact on the output of emerging market economies (EMEs) without material impact on US output during the last two decades. To understand this puzzling phenomenon, I propose an...

While the negative effect of uncertainty shocks on economic activity is well documented in manyempirical studies, little is known about the extent to which the effect differs across various kinds ofuncertainty, especially in the emerging market economy context. Using the newly available economic...