• After decades of increasing globalisation on every front, from trade - pushed further by the growing role of value chains - to technology, movement of people and investment, there now seems to be a turn towards slower globalisation if not deglobalisation, at least in some areas. •...

As China's economic weight continues to grow, so does the global impact of its companies. Chinese state-owned enterprises (SOEs) produce a large share of Chinese goods and services. Given their importance both in China and increasingly globally, it should be measured whether SOEs introduce...

The COVID-19 pandemic has challenged global economies with unparalleled negative shock. Asia and Latin America have gone through a number of financial crises in the last few decades but they have addressed those crises rather differently, leading to different growth trajectories after the...

Recent banking crises in Argentina, Paraguay and Venezuela suggest that the macroeconomic impact is influenced by the causes of the crisis, the exchange rate regime, the degree of dollarization, and the structure of the banking system. Crises stemming from both macroeconomic and bank-specific...

The authors analyze the determinants and implications for financial stability of the mix of international banks' claims countries receive. In particular, they distinguish between local claims, extended by international banks through their affiliates in a host (or claim recipient) country, and...

This note examines interest rate linkages within the EMS. Cointegration tests suggest the existence of a long-run equilibrium relationship between German and other EMS interest rates. Bivariate VAR analysis finds that Granger-causality either stems from German to other European interest rates...