This paper reviews international measures of the digital economy with those developed by Chinese officials and private sources. Given their lack of comparability, we use China's input and output and census data to come up with an internationally comparable estimate of China's size of the...

We document that in China the maturity dates of bank-issued wealth management products (WMPs) cluster toward the end of a month and then decrease significantly at the beginning of the following month. Our empirical work detects a negative relationship between a bank's loan-to-deposit ratio (LDR)...

As the European Union was recovering from the deepest economic crisis since the introduction of the euro, a number of new challenges popped up. First and foremost, British citizens decided in favor of the UK leaving the European Union in June 2016, and a growing number of countries saw...

With the trade conflict between the United States and China bringing China-US strategic competition into the open, the European Union faces an urgent question: how to position itself in the competition. This paper reviews the impact of the US-led trade war against China and its immediate...

The Belt and Road initiative, recently embarked on by China, aims to improve cross-border infrastructure in order to reduce transportation costs across a massive geographical area between China and Europe. We estimate how much trade might be created among Belt and Road countries as a consequence...

This paper analyses empirically how increasingly close trade relations between China and Russia might a ect the European Union (EU). We show that EU countries are complementary to Russia on the Chinese market. However, Chinese exports are increasingly relevant substitutes for EU exports on the...

One of the big uncertainties regarding the Corona Virus is how China's efforts to contain it by closing factories will impact supply chains regionally and globally. This note points to China's much larger relevance in the global value chain, especially as concerns exports of intermediate goods....

In this paper we investigate whether cross-sectional information from local equity markets contained information on devaluation expectations during the Asian crisis. We concentrate on the information content of equity prices as these markets were in general the largest and most liquid at the...

This paper assesses financial sector development in Latin America, both in the banking system and in the capital markets. After a brief review of the explanatory factors and the definitions of financial development found in the literature, Latin American countries are classified in groups of...

We find empirical evidence that the Chinese banking system has benefited from the entry of foreign investors through higher profitability and increased efficiency of the banking system. Foreign participation, which consists of a minority stake in a Chinese bank (in contrast to the typical...