Do development banks affect the structure of loan syndicates? We argue that development banks' participation in syndicates can reduce the lead banks' monitoring efforts and generate higher risk diversification across lenders. Using a global dataset of syndicated loans from 2001 to 2016 for 105...

We develop a Global VAR (GVAR) model for current account analysis. The model includes major economies involved in global imbalances and a few key macro variables to comprehensively examine the relations between these economies and the causality of the variables. We estimate the GVAR model based...