Other Publications
Broner, Fernando, Schmukler, Sergio, and von Peter, Goetz, 2024. “The Growth of the South in Global Finance: New Bilateral Data and Stylized Facts,” VoxEU, March 28.
Cortina, Juan, Martinez Peria, Maria Soledad, Schmukler, Sergio, and Xiao, Jasmine, 2023. “Internationalising China’s Equity Markets: The Role of Domestic and Foreign Investors,” VoxEU, July 24.
Calomiris, Charles, Larrain, Mauricio, Schmukler, Sergio, and Williams, Tomas, 2022. "The Post-2008 Boom in Foreign Currency Corporate Bonds: Why Emerging Markets Go Large," VoxEU, February 28.
Cortina, Juan, Didier, Tatiana, and Schmukler, Sergio, 2021. “Corporate Borrowing during Crises: Switches in Global Markets,” VoxEU, June 18.
Abraham, Facundo, Cortina, Juan, and Schmukler, Sergio, 2021. "The Boom in Corporate Borrowing after the Global Financial Crisis: Different Tales from East Asia and Latin America,” Research and Policy Brief No. 42, World Bank Chile Center and Malaysia Hub.
Didier, Tatiana, Huneeus, Federico, Larrain, Mauricio, and Schmukler, Sergio, 2020. “Hibernation: Keeping Firms Afloat During the COVID-19 Crisis,” VoxEU, April 23.
Didier, Tatiana, Huneeus, Federico, Larrain, Mauricio, and Schmukler, Sergio, 2020. “Financing Firms in Hibernation during the COVID-19 Pandemic,” Research and Policy Brief, No. 30, World Bank Chile Center and Malaysia Hub.
Abraham, Facundo, Schmukler, Sergio, and Tessada, Jose, 2019. "Using Big Data to Expand Financial Services: Benefits and Risks,” Research and Policy Brief No. 26, World Bank Chile Center, Malaysia Hub, and Seoul Center.
Abraham, Facundo, Schmukler, Sergio, and Tessada, Jose, 2019. "Financial Innovation and Additionality: The Power of Economic Analysis and Data Analytics,” Research and Policy Brief No. 23, World Bank Chile Center and Malaysia Hub.
Abraham, Facundo, Schmukler, Sergio, and Tessada, Jose, 2019. "Robo-Advisors: Investing through Machines,” Research and Policy Brief No. 21, World Bank Chile Center and Malaysia Hub.
Featured in Let’s Talk Development, April 1, 2019.
Calomiris, Charles, Larrain, Mauricio, and Schmukler, Sergio, 2018. "Equity Inflows, Corporate Financing, and Growth,” VoxEU, December 24.
Cortina, Juan, Didier, Tatiana, and Schmukler, Sergio, 2018. "Corporate Borrowing in Emerging Markets: Fairly Long Term, but Only for a Few,” Research and Policy Brief No. 18, World Bank Chile Center and Malaysia Hub.
Llovet, Ruth and Schmukler, Sergio, 2018. "Financial Integration in East Asia and Pacific: Regional and Interregional Linkages,” Research and Policy Brief No. 15, World Bank Malaysia Hub.
Cortina, Juan and Schmukler, Sergio, 2018. “The Fintech Revolution: A Threat to Global Banking?” Research and Policy Brief No. 14, World Bank Chile Center and Malaysia Hub.
Raddatz, Claudio, Schmukler, Sergio, and Williams, Tomás, 2018. “The Impact of Benchmark Investing by Institutional Investors on International Capital Allocations,” in Advances in the Practice of Public Investment Management, Springer Nature (Palgrave Macmillan), Chapter 12, 313-340.
Abraham, Facundo and Schmukler, Sergio, 2018. “Financial Globalization: A Glass Half Empty?” in Handbook of Finance and Development, Thorsten Beck and Ross Levine (Eds.), Edward Elgar, Chapter 12, 338-365.
Featured in Let’s Talk Development, October 23, 2017.
Featured in Bookforum, Omnivore, February 13, 2018.
Martínez Pería, María Soledad and Schmukler, Sergio, 2017. “Understanding the Use of Long-term Finance in Developing Countries,” in Finance and Investment: The European Case, C. Mayer, S. Micossi, M. Onado, M. Pagano, and A. Polo (Eds.), CEPR and Oxford University Press, Chapter 4, 65-84.
Abraham, Facundo and Schmukler, Sergio, 2017. “Are Public Credit Guarantees Worth the Hype?” Research and Policy Brief No. 11, World Bank Malaysia Hub.
Abraham, Facundo and Schmukler, Sergio, 2017. “A New Role for Development Banks?” Research and Policy Brief No. 10, World Bank Malaysia Hub.
Abraham, Facundo and Schmukler, Sergio, 2017. “Addressing the SME Finance Problem,” Research and Policy Brief No. 9, World Bank Malaysia Hub.
Featured in All About Finance, October 24, 2017.
Raddatz, Claudio, Schmukler, Sergio, and Williams, Tomás, 2016. “The Effects of Benchmarks on International Capital Flows: The Problems of Passive Investing,” VoxEU, August 12.
Featured in Let’s Talk Development , August 16, 2016.
Gozzi, Juan Carlos and Schmukler, Sergio, 2015. “Public Credit Guarantees and Access to Finance,” European Economy: Banks, Regulation, and the Real Sector, 2, 101-117.
Leading article.
Didier, Tatiana, Levine, Ross, and Schmukler, Sergio, 2015. “Three Questions (and Answers) about Finance and Firms,” VoxEU, August 25.
Didier, Tatiana and Schmukler, Sergio, 2014. “Financial Development in Asia: Beyond Aggregate Indicators,” in Financial Development and Cooperation in Asia and the Pacific, Edward Chen and Wendy Dobson (Eds.), Pacific Trade and Development (PAFTAD) Conference Series, Routledge, 143-169.
de la Torre, Augusto, Levy Yeyati, Eduardo, Beylis, Guillermo, Didier, Tatiana, Rodríguez Castelán, Carlos, and Schmukler, Sergio, 2014. “Inequality in a Lower Growth Latin America,” World Bank, LAC Annual Meetings Report, Fall.
Ceballos, Francisco, Didier, Tatiana, and Schmukler, Sergio, 2014. “Overview: Emerging Issues in Financial Development - Lessons from Latin America,” in Emerging Issues in Financial Development:Lessons from Latin America, Tatiana Didier and Sergio Schmukler (Eds.), World Bank, 1-24.
Didier, Tatiana, and Schmukler, Sergio, 2014. “Financial Development in Emerging Economies: Stylized Facts and the Road Ahead,” in Emerging Issues in Financial Development: Lessons from Latin America, Tatiana Didier and Sergio Schmukler (Eds.), World Bank, 25-90.
Also available as World Bank Policy Research Working Paper No. 6582 , August 2013.
Didier, Tatiana, and Schmukler, Sergio, 2014. “Financial Globalization: Some Basic Indicators for Latin America and the Caribbean,” in Emerging Issues in Financial Development: Lessons from Latin America, Tatiana Didier and Sergio Schmukler (Eds.), World Bank, 175-204.
Didier, Tatiana, and Schmukler, Sergio, 2013. “Finance and Growth in China and India: Have Firms Benefited from the Capital Market Expansion?” VoxEU, May 6.
Featured in Let’s Talk Development, June 2, 2014.
Also published in Ideas for India, June 2014.
Broner, Fernando, Didier, Tatiana, Erce, Aitor, and Schmukler, Sergio, 2013. “International Capital Flows during Crises:Gross Matters,” VoxEU, March 28.
Beck, Thorsten, Claessens, Stijn, and Schmukler, Sergio, 20123. “Financial Globalization and Crises: Overview” in The Evidence and Impact of Financial Globalization, Gerard Caprio, Thorsten Beck, Stijn Claessens, and Sergio Schmukler (Eds.), Elsevier, 1-12.
Didier, Tatiana, Rigobon, Roberto, and Schmukler, Sergio, 2012. “Some Pitfalls in Global Investing,” VoxEU, November 12.
Featured in Let’s Talk Development Blog, November 14, 2012.
Featured in World Bank Research Newsletter, November 2012.
Ceballos, Francisco, Didier, Tatiana, Hevia, Constantino, and Schmukler, Sergio, 2012. “Respuestas de Política a la CrisisFinanciera Global: ¿Qué Hicieron Diferente las Economías Emergentes?” Revista de Estudios Económicos, Central Bank of Peru 24, 27-43.
English version: “Policy Responses to the Global Financial Crisis: What Did Emerging Economies Do Differently?” Central Bank of Peru, Working Paper Series 2013-002.
Ceballos, Francisco, Didier, Tatiana, and Schmukler, Sergio, 2012. “Different Facets of Financial Globalisation,” VoxEU, August 28.
Featured in World Bank Research Newsletter, September 2012.
Ceballos, Francisco, Didier, Tatiana, and Schmukler, Sergio, 2012. “Financial Globalization in Emerging Countries:Diversification vs. Offshoring” in New Paradigms for Financial Regulation:Emerging Market Perspectives, Mario B. Lamberte and Eswar Prasad (Eds.), ADBI and Brookings Institution, 110-138.
Also available as World Bank Policy Research Working Paper No. 6105, June 2012 and Asian Development Bank Institute Working Paper No. 382, September 2012.
Featured in Let’s Talk Development Blog, September 10, 2012.
de la Torre, Augusto, Didier, Tatiana, Hevia, Constantino, and Schmukler, Sergio, 2012. “Latin America Copes with Volatility, The Dark Side of Globalization,” World Bank, Spring Meetings Report, Spring.
Also available in Spanish version: “Latinoamérica Hace Frente a la Volatilidad, El Lado Oscuro de la Globalización,” World Bank, Spring Meetings Report, Spring.
de la Torre, Augusto and Schmukler, Sergio, 2012. “Latin American Stock Markets: Recent History and Prospects,” in Handbook of Research on Stock Market Globalization, Geoffrey Poitras (Ed.), Edward Elgar, 215-224.
Raddatz, Claudio, and Schmukler, Sergio, 2011. “Do Mutual Funds Make Crises Worse?” VoxEU, September 22.
Didier, Tatiana, Hevia, Constantino, and Schmukler, Sergio, 2011. “Emerging Market Resilience,” VoxEU, August 9.
Levy Yeyati, Eduardo, Martínez Pería, María Soledad, and Schmukler, Sergio, 2011. “A Bank Run in Greece May Trigger an Unintended Resolution of the Crisis,” Brookings Institution, July 12.
Levy Yeyati, Eduardo, Martínez Pería, María Soledad, and Schmukler, Sergio, 2011. “Triplet Crises and the Ghost of a New Drachma,” VoxEU, June 29.
Selected for Editors’ Choice.
Featured in Interest Bearing Notes, July 2011.
Featured in World Bank Research Newsletter, July 2011.
Featured in World Bank Monthly Research Highlights 36, August 2011.
Featured in Let’s Talk Development Blog, May 21, 2012.
Martínez Pería, María Soledad, and Schmukler, Sergio, 2011. “Triplet Crises: Lessons European Leaders Can Learn From Emerging Markets,” All About Finance Blog, September 26.
de la Torre, Augusto, Calderón, Cesar, Didier, Tatiana, Messina, Julian, and Schmukler, Sergio, 2011. “Latin America and the Caribbean: Success Put to Test,” World Bank, Spring Meetings Report, Spring.
Also available in Spanish: “El Éxito de LAC Se Somete a Prueba,” World Bank, Spring Meetings Report, Spring.
Didier, Tatiana, Hevia, Constantino, and Schmukler, Sergio, 2011. “Emerging Country Responses to the Global Crisis,” in Financial Contagion: The Viral Threat to the Wealth of Nations , Robert W. Kolb (Ed.), John Wiley & Sons, Inc., February, 203-218.
de la Torre, Augusto, Calderón, Cesar, Didier, Tatiana, Levy Yeyati, Eduardo, and Schmukler, Sergio, 2010. “The New Face of Latin America and the Caribbean: Globalized, Resilient, Dynamic,” World Bank, Annual Meetings Report, Fall.
Also available in Spanish: “La Nueva Cara de Latinoamérica y el Caribe: Globalizada, Resistente, Dinámica,” World Bank, Annual Meetings Report, Fall.
de la Torre, Augusto, Calderón, Cesar, Didier, Tatiana, Messina, Julian, and Schmukler, Sergio, 2010. “From Global Collapse to Recovery,” World Bank, Spring Meetings Report, Spring.
Also available in Spanish: “Del Colapso Global a la Recuperación,” World Bank, Spring Meetings Report, Spring.
de la Torre, Augusto, Levy-Yeyati, Eduardo, and Schmukler, Sergio, 2010. “Varieties of Internal Devaluation: Peripheral Europe in the Argentine Mirror,” VoxEU, March 6.
Selected for Editors’ Choice.
Levy Yeyati, Eduardo, Schmukler, Sergio, and van Horen, Neeltje, 2010. “Capital Controls, Crises, and Financial Integration,” in Managing Capital Flows: Search for a Framework, Masahiro Kawai and Mario B. Lamberte (Eds.), Edward Elgar, 160-191.
de la Torre, Augusto, Martínez Pería, María Soledad, and Schmukler, Sergio, 2010. “Drivers and Obstacles to Banking SMEs: The Role of Competition and the Institutional Framework,” in Reforming Rules and Regulations, Vivek Ghosal (Ed.), MIT Press, 215-253.
Schmukler, Sergio, 2009. “Financial Globalization: Gain and Pain for Developing Countries,” in International Political Economy, (Fifth Edition), Jeffry Frieden, David Lake, and Lawrence Broz (Eds.), W.W. Norton & Company, 2009, 314-336.
Abridged version of a paper published in the Economic Review, Federal Reserve Bank of Atlanta.
de la Torre, Augusto, Calderón, Cesar, Didier, Tatiana, and Schmukler, Sergio, 2009. “Update on the Global Crisis: The Worst is Over, Latin America and the Caribbean Poised to Recover,” World Bank, Annual Meetings Report, Fall.
Also available in Spanish version.
de la Torre, Augusto, Martínez Pería, María Soledad, Politi, María Mercedes, Schmukler, Sergio, and Vanasco, Victoria, 2009. “How Do Banks Serve SMEs? Business and Risk Management Models,” in Investing Private Capital in Emerging and Frontier Market Small and Medium Enterprises, Benoît Leleux and Anouk Lavoie Orlick (Eds.), IMD and IFC, 67-97.
de la Torre, Augusto, Schmukler, Sergio, and Servén, Luis, 2009. “Back to Global Imbalances,” in Roubini Global Economic Monitor.
Featured in World Bank Research Digest 3:4, Summer 2009.
Featured in America Economia.
de la Torre, Augusto, Martínez Pería, María Soledad, and Schmukler, Sergio, 2009. “Banks and Small and Medium Enterprises:Recent Business Developments,” in QFinance: The Ultimate Resource, Bloomsbury, 176-178. Second edition printed in 2010.
de la Torre, Augusto and Schmukler, Sergio, 2008. “Ondas Sísmicas del Exterior,” in Ejecutivos.
Schmukler, Sergio, 2008. “The Benefits and Risks of Globalization: Challenges for Developing Countries,” in Capital Markets Liberalization and Development, Joseph Stiglitz and José Antonio Ocampo (Eds.), Oxford University Press, 48-73.
de la Torre, Augusto, Gozzi, Juan Carlos, and Schmukler, Sergio, 2008. “Capital Market Development: Whither Latin America?” in Strengthening Global Financial Markets, Marcio García and Sebastian Edwards (Eds.), National Bureau of Economic Research and University of Chicago Press, 121-153.
Longer version appeared as World Bank Policy Research Working Paper No. 4156, March 2007.
de la Torre, Augusto, Gozzi, Juan Carlos, and Schmukler, Sergio, 2007. “Financial Development in Latin America: Big Emerging Issues, Limited Policy Answers,” in Visiones del Desarrollo en América Latina, José Luis Machinea and Narcis Serra (Eds.), UN-Economic Commission for Latin America and the Caribbean (ECLAC) and Fundación CIDOB, 433-490.
Longer version appeared as World Bank Policy Research Working Paper No. 3963, July 2006.
de la Torre, Augusto, and Schmukler, Sergio, 2007. “Desarrollo del Mercado de Capitales: Balance y Perspectivas,” (“Capital Market Development: Taking Stock”), in Política Monetaria y Estabilidad Financiera: De la Teoría a la Práctica, Jornadas Monetarias y Bancarias del Banco Central de la República Argentina - Anales 2006, 181-194, May.
Lane, Philip, and Schmukler, Sergio, 2007. “The International Financial Integration of China and India,” in Dancing with Giants: China, India, and the World Economy, Alan Winters and Shahid Yusuf (Eds.), Institute of Policy Studies and World Bank, 101-132, 2007.
Also published in Proceeding, Federal Reserve Bank of San Francisco, June 2006.
Longer version appeared as CEPR Discussion Paper 5852, September 2006, and as World Bank Policy Research Working Paper No. 4132, February 2007.
Featured in The Economic Times (India), May 27, 2006 and The Economist, September 14, 2006.
Schmukler, Sergio, 2006. “Comments on R. Cooper, M. Bordo, and H. James: Exchange Rate Arrangements and Disarrangements: Prospects for a World Currency,” International Economics and Economic Policy, 3:3-4, 409-414, December.
de la Torre, Augusto, and Schmukler, Sergio, 2006/2007. “¿Cómo Desarrollar Los Mercados de Capitales?” Carta Financiera, 136, 14-21, Asociación Nacional de Instituciones Financieras, Colombia, November-February.
Halac, Marina, Schmukler, Sergio, and Zoido-Lobaton, Pablo, 2006. “Financial Globalization, Crises, and Contagion,” in International Macroeconomics: Recent Developments, Amalia Morales (Ed.), 207-225, Nova Science Publishers, 207-225.
Reprinted in Journal of Current Issues in Globalization, 2007, 1:1-2.
de la Torre, Augusto, and Schmukler, Sergio, 2005. “Small Fish, Big Pond. What Is the Future for Domestic Capital Markets in a Globalized Economy?” Finance and Development, 42:2, 47- 49, June.
Levy Yeyati, Eduardo, Martínez Pería, María Soledad, and Schmukler, Sergio, 2004. “Market Discipline in Emerging Economies: Beyond Bank Fundamentals,” in Market Discipline across Countries and Industries, C. Borio, W. Hunter, G. Kaufman, and K. Tsatsaronis (Eds.), MIT Press, 135-146.
Schmukler, Sergio, 2004. “Contagion of Financial Crises,” in The Social Science Encyclopedia (third edition), Adam Kuper and Jessica Kuper (Eds.), Routledge.
Kaminsky, Graciela, and Schmukler, Sergio, 2002. “Rating Agencies and Financial Markets,” in Ratings, Rating Agencies, and the Global Financial System, R. Levich, G. Majnoni, and C. Reinhart (Eds.), Kluwer Academic Press, 227-250.
Vesperoni, Esteban, and Schmukler, Sergio, 2001. “Firms’ Financing Choices in Bank-Based and Market-Based Economies,” in Financial Structure and Economic Growth, Asli Demirguc-Kunt and Ross Levine (Eds.), MIT Press, 347-375.
Ganapolsky, Eduardo, and Schmukler, Sergio, 2001. “Crisis Management in Argentina during the 1994-95 Mexican Crisis: How Did Markets React?” World Bank Economists’ Forum, 1, 3-30, April.
Policy Research Report, 2001. “Globalization, Growth, and Poverty,” World Bank.
Frankel, Jeffrey, and Schmukler, Sergio, 1998. “Crisis, Contagion, and Country Funds,” in Managing Capital Flows and Exchange Rates, Reuven Glick (Ed.), Cambridge University Press.