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

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