Archive
Cross-Border Currency Exposures. New evidence based on an enhanced and updated dataset
Joint work with Deepali Gautam, Luciana Juvenal and Martin Schmitz.
Abstract: This paper provides a dataset on the currency composition of the international investment position for a group of 50 countries for the period 1990-2017. It improves available data based on estimates by incorporating actual data reported by statistical authorities and refining estimation methods. The paper illustrates current and new uses of these data, with particular focus on the evolution of currency exposures of cross-border positions.
- Download options: Trinity College Dublin, ECB, IMF
- Data file
The Spread of Manufacturing to the Poor Periphery 1870‐2007
This is joint work with Kevin O’Rourke and Jeffrey Williamson. It is published in the Open Economies Review 26(1): 1-37, January 2015
Abstract: This paper documents industrial output growth around the poor periphery (Latin America, the European periphery, the Middle East and North Africa, Asia, and sub-Saharan Africa) between 1870 and 2007. We find that although the roots of rapid peripheral industrialization stretch into the late 19th century, the high point of peripheral industrialization was the 1950–1973 period, which saw widespread import-substituting industrialization. This period was also the high point of unconditional industrial catching up, defined as the tendency of less industrialized countries to post higher per capita manufacturing growth rates, and which occurred between 1920 and 1990.