Corporate Acquisitions and Bank Relationships (with Steven Poelhekke and Razvan Vlahu), Management Science, accepted Aug 2025

• • Latest draft (June '25) 

  • Tinbergen Institute Discussion Paper Series, Discussion Paper no. 21-082/IV 

  • De Nederlandsche Bank Working Paper No. 726

How to Construct Nationally Representative Firm Level Data from the Orbis Global Database: New Facts on SMEs and Aggregate Implications for Industry Concentration (with Sebnem Kalemli-Ozcan, Bent Sorensen, Carolina Villegas-Sanchez, and Sevcan Yesiltas), American Economic Journal: Macroeconomics, 2024, vol. 16, iss. 2, 353-74. DOI: 10.1257/mac.20220036

• • link to journal; Online appendix; Replication code

  • NBER Working Paper Series, Working Paper No. 21558

  • Tinbergen Institute Discussion Paper Series, Discussion Paper no. 15-110/IV

  • A Guide to Process Historical Data. This manual, written with my involvement, explains processing of the Orbis Historic product delivered by BvD. Orbis Historic is a new version of Orbis data packaged by BvD as the panel of financials, ownership and other data.

Quantifying Productivity Gains from Foreign Investment (with Christian Fons-Rosen, Sebnem Kalemli-Ozcan, Bent Sorensen, and Carolina Villegas-Sanchez), Journal of International Economics, 2021, vol. 131, 103456

• • Final version; link to journal; replication codes

  • NBER Working Paper Series, Working Paper No. 18920

  • Tinbergen Institute Discussion Paper Series, Discussion Paper no. 13-058/IV

  • Featured in VoxEU.org on 4 June 2013; Bloomberg; Businessweek

Deep Financial Integration and Volatility (with Sebnem Kalemli-Ozcan and Bent Sorensen), Journal of European Economic Association, 2014, vol. 12, iss. 6, 1558-1585. 

• Final version; Online Appendix; link to journal; public data and codes

• NBER Working Paper Series, Working Paper no. 15900

Sovereigns, Upstream Capital Flows and Global Imbalances (with Laura Alfaro and Sebnem Kalemli-Ozcan), Journal of European Economic Association, 2014, vol. 12, iss. 5, 1240-1284. Final version; Online Appendix; link to journal; public data and codes

• NBER Working Paper no.17396

• Featured in VoxEU.org on 29 October 2011

• Guest contribution on EconBrowser.com on 21 May 2014

Learning About Financial Market Integration from Principal Components Analysis, CESifo Economic Studies, 2013, vol. 59, iss. 2, 360-391. 

• Final version; link to journal

Risk Sharing from International Factor Income: Explaining Cross-Country Differences, Applied Economics, 2013, vol. 45, iss. 11, 1435-1459.

• Final version; link to journal

Financial Market Integration Over the Long Run: Is there a U-shape? Journal of International Money and Finance, November 2011, vol. 30, Iss. 7, 1535-1561. 

• Final version; link to journal; data and codes

• Tinbergen Institute Discussion Paper Series, Discussion Paper no. 11-018/2

Gains from Financial Integration in the European Union: Evidence for New and Old Members (with Yuliya Demyanyk). Journal of International Money and Finance, March 2008, vol. 27, iss. 2, 277–294 

• Final version; link to journal

• CEPR Discussion Paper no 4847

Why Doesn't Capital Flow From Rich To Poor Countries: An Empirical Investigation (with Laura Alfaro and Sebnem Kalemli-Ozcan). Review of Economics and Statistics, May 2008, vol 90, iss. 2, 347–368. 

• Link to journal; data 

• NBER Working Paper Series, Working Paper no. 11901

PUBLICATIONS (CHAPTERS)

Capital Flows in a Globalized World: The Role of Policies and Institutions (with Laura Alfaro and Sebnem Kalemli-Ozcan). In: Edwards, S. (Ed.), Capital Controls and Capital Flows in Emerging Economies: Policies, Practices and Consequences. 2007. The University of Chicago Press, Chicago.

• • Final version

  • The volume contents at NBER.org

  • NBER Working Paper Series, Working Paper no. 11696

The Feasibility Of Monetary Targeting In Ukraine. In: von Cramon-Taubadel, S., Akimova, I. (Eds.), Fostering Sustainable Economic Growth in Ukraine. 2002. Physica-Verlag, Heidelberg

OTHER PUBLICATIONS

Building Value. Is value creation in buy-and-builds principally from multiple arbitrage? (with Dyaran S. Bansraj and Han T.J. Smit), Private Equity Findings, Coller Research Institute, iss. 17, 2021, 6-9 (lead article).

• Link to the Issue 17, 2021

Methodology report for the second phase of the KETs Observatory (with Mark Lengton, Kristina Dervojeda, and Anton Koonstra), European Union, June 2017. Available at https://ec.europa.eu/growth/tools-databases/kets-tools/kets-observatory/methodology

Gains from Risk-Sharing in the EU (with Yulia Demyanyk), Beyond Transition, vol.18, iss.1, Jan-Mar 2007.

Is there an Investment Crisis in Ukraine? Conference proceedings of The 12th Ukrainian-German Symposium, 2001. Kyiv.