This study examines the cost efficiency of 39 microfinance institutions across Africa, Asia and the Latin America using non-parametric data envelopment analysis. Our findings show non-governmental microfinance institutions particularly; under production approach, are the most efficient and this...

This paper provides empirical evidence that emerging market economies adjust capital flow management in response to U.S. monetary policy shocks. Using these shocks as exogenous instruments, we find that such adjustments cause changes to portfolio capital flows — in particular, a one standard...

This paper provides empirical evidence that emerging market economies adjust capital flow management in response to U.S. monetary policy shocks. Using these shocks as exogenous instruments, we find that such adjustments cause changes to portfolio capital flows — in particular, a one standard...

Many emerging markets offer financial incentives to attract foreign direct investment, believing that such investment provides advanced technology or management skills. However, it appears developing economies such as China could benefit more from multinational corporations' financial resources