This paper empirically evaluates four types of costs that may result from an international sovereign default: reputational costs, international trade exclusion

Studies of the impact of trade openness on growth are based either on crosscountry analysis—which lacks transparency—or case studies—which lack statistica

This special issue brings together world-renowned experts to provide a systematic and critical analysis of the costs and benefits of financial globalization. Co

China’s growth performance since the start of economic reforms in 1978 has been impressive, but the gains have not been distributed equally across provinces.

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since ma