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

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