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Institutional quality and international differences in firm productivity
(Indian Institute of Management Ahmedabad, 2017-02-27)
In this paper, we examine how firm-level productivity growth is dependent on a broad range of institutional quality measures at the country level. Using a sample of 3,446 firms in 58 advanced and emerging economics, we ...
Turning over a golden leaf? : Global liquidity and emerging market central banks’ demand for gold after the financial crisis
(Indian Institute of Management Ahmedabad, 2017-04-12)
The quantity of gold reserves held by central banks in emerging markets and developing economies (EMDEs) has risen sharply following the global financial crisis in 2008. This paper examines factors driving holding of gold ...
Quantitative easing and the post-crisis surge in financial flows to developing countries
(Elsevier Ltd, 2016)
This paper examines gross financial inflows to developing countries between 2000 and 2013, with a focus on the potential effects of quantitative easing (QE) policies in the United States and other high-income countries. ...
Unconventional monetary policy normalisation and emerging market capital flows
(Centre for Economic Policy Research, 2016)
The Federal Reserve has begun to ‘taper’ its programme of quantitative easing. The ‘taper tantrum’ that followed the announcement of tapering in May 2013 suggests that the normalisation of rich countries’ unconventional ...
Determinants of the distance between sovereign credit ratings and sub-sovereign bond ratings: evidence from emerging markets and developing economies
(Taylor & Francis Group, 2017-07-05)
This article explores factors that affect the distance between sovereign credit ratings and the
ratings assigned to new foreign-currency bonds issued by sub-sovereign entities (such as private
non-financial corporations, ...
Global risk and demand for gold by central banks
(Indian Institute of Management Ahmedabad, 2017)
This paper examines the influence of global risk on the holding of gold by central banks based on annual data for 100 countries during 1990-2015. We use a dynamic panel generalized method of moments (GMM) model to estimate ...
Impacts of sovereign rating on sub-sovereign bond ratings in emerging and developing economies
(World Bank, 2016-03-30)
This paper explores bond-level, issuer-level, and macro-level conditions that affect the distance between sovereign credit rating and sub-sovereign debt ratings. Over three-quarters of rated foreign-currency sub-sovereign ...
Impact of migration on economic and social development: a review of evidence and emerging issues
(Edward Elgar Publishing, 2015)
Unconventional monetary policy normalisation and emerging market capital flows
(Centre for Economic Policy Research (CEPR), 2016-01)
Global risk and demand for gold by central banks
(Indian Institute of Management Ahmedabad, 2017-01-30)
This paper examines the influence of global risk on the holding of gold by central banks based on annual data for 100 countries during 1990-2015. We use a dynamic panel generalized method of moments (GMM) model to estimate ...