Mr.Sergio L. Schmukler

Understanding the Use of Long-term Finance in Developing Economies

This short paper reviews recent literature on the use of long-term finance in developing economies (relative to advanced ones) to identify where long-...

The Internationalization of China’s Equity Markets

China’s equity markets internationalization process started in the early 2000s but accelerated after 2012, when Chinese firms’ shares listed in Sh...

Short-Run Pain, Long-Run Gain

The Effects of Financial Liberalization

We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of fi...

Vanishing Contagion?

While a number of emerging market crises were characterized by widespread contagion during the 1990s, more recent crises (notably, in Argentina) have ...