bulk of the region's population and output. We then made projections about the effects of demographic change on the …

openness is output volatility. In this paper, using data from 21 advanced and 81 developing countries during 1971-2010, we … empirically examine the impact of capital market openness on output volatility. We find that opening of capital markets increases … the output volatility of developing countries. Furthermore, we find that the main channel through which capital market …

than household debt buildups. Further, corporate debt-induced financial recessions inflict a bigger damage on output than …