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Sergio L. Schmukler

Lead Economist


Sergio Schmukler bio photo 
Sergio Schmukler
Publications, working papers, and datasets.
Highlighted Research
Macroeconomics and Growth Research Group








SERGIO SCHMUKLER is Lead Economist at the World Bank Research Department. He obtained his Ph.D. from U.C. Berkeley in 1997, when he joined the World Bank. He has also been Treasurer of LACEA-the Latin America and Caribbean Economic Association (since 2004), Associate Editor of the Journal of Development Economics (2001-2004), taught at the Department of Economics, University of Maryland (1999-2003), and worked at the International Monetary Fund Research Department (2004-2005). Previously, he worked at the U.S. Federal Reserve Board, the Inter-American Development Bank Research Department, and the Argentine Central Bank. His research area is international finance and international financial markets and institutions. He has published many articles in leading academic journals and edited volumes on emerging market finance, financial globalization, financial crises and contagion, capital markets, financial development, and institutional investors. He has also co-authored and edited four books published by Elsevier, McGraw Hill, Stanford University Press, and the World Bank.



















World Bank working papers and publications

1 .The changing patterns of financial integration in Latin America
2 .Institutional investors and long-term investment : evidence from Chile
3 .International asset allocations and capital flows : the benchmark effect
4 .Financial development in Asia : beyond aggregate indicators
5 .Emerging issues in financial development : lessons from Latin America
6 .Financial development in Latin America and the Caribbean : stylized facts and the road ahead
7 .The financing and growth of firms in China and India : evidence from capital markets
8 .How firms use domestic and international corporate bond markets
9 .Financial globalization in emerging countries : diversification vs. offshoring
10 .On the international transmission of shocks : micro-evidence from mutual fund portfolios
11 .Gross capital flows : dynamics and crises
12 .Deconstructing herding : evidence from pension fund investment behavior
13 .How resilient and countercyclical were emerging economies to the global financial crisis ?
14 .Unexploited gains from international diversification : patterns of portfolio holdings around the world
15 .The long and the short of emerging market debt
16 .Drivers and obstacles to banking SMEs : the role of competition and the institutional framework
17 .Pension funds and capital market development
18 .Crises, capital controls, and financial integration
19 .Patterns of international capital raisings
20 .Bank involvement with SMEs : beyond relationship lending
21 .Emerging market liquidity and crises
22 .Innovative experiences in access to finance : market friendly roles for the visible hand ?
23 .Stock market development under globalization : whither the gains from reforms ?
24 .International financial integration through equity markets : which firms from which countries go global ?
25 .Capital market development : whither Latin America ?
26 .The international financial integration of China and India
27 .The World Bank research observer 22 (1)
28 .Financial development in Latin America : big emerging issues, limited policy answers
29 .Internationalization and the evolution of corporate valuation
30 .International financial integration through the law of one price
31 .Market discipline under systemic risk - evidence from bank runs in emerging economies
32 .Why do emerging economies borrow short term?
33 .Coping with risk through mismatches : domestic and international financial contracts for emerging economies
34 .Distributional effects of crises : the role of financial transfers
35 .The price of inconvertible deposits - the stock market boom during the Argentine crisis
36 .Migration, spillovers, and trade diversion : the impact of internationalization on stock market liquidity
37 .Government bonds in domestic and foreign currency: the role of macroeconomic and institutional factors
38 .Living and dying with hard pegs : the rise and fall of Argentina's currency board
39 .Financial globalization : unequal blessings
40 .Short-run pain, long-run gain : the effects of financial liberalization
41 .Explaining the migration of stocks from exchanges in emerging economies to international centers
42 .Pricing currency risk : facts and puzzles from currency boards
43 .The World Bank economic review 16 (2)
44 .Emerging markets instability: do sovereign ratings affect country risk and stock returns?
45 .Short and long-run integration : do capital controls matter ?
46 .Crisis and contagion in East Asia : nine lessons
47 .Mutual fund investment in emerging markets - an overview
48 .Global transmission of interest rates : monetary independence and the currency regime
49 .Managers, investors, and crises : mutual fund strategies in emerging markets
50 .Verifying exchange rate regimes
51 .Globalization and firms' financing choices - evidence from emerging economies
52 .Predicting currency fluctuations and crises - do resident firms have an informational advantage?
53 .What triggers market jitters? A chronicle of the Asian crisis
54 .Do depositors punish banks for "bad" behavior? : market discipline in Argentina, Chile, and Mexico
55 .The impact of policy announcements and news on capital markets : crisis management in Argentina during the Tequila Effect
56 .Country funds and asymmetric information

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