Publications

Publications in refereed journals

Foreign Banks and Trade

Joint with Stijn Claessens
Journal of Financial Intermediation, 45, 1-21, 2021

The Invisible Hand of the Government: Moral Suasion During the Sovereign Debt Crisis

Joint with Steven Ongena and Alexander Popov
American Economic Journal – Macroeconomics, 11(4), 346-379, 2019
Paper featured in AEA Journals Research Highlight

When Arm’s Length is too Far. Relationship Lending over the Credit Cycle

Joint with Thorsten Beck, Hans Degryse and Ralph De Haas
Journal of Financial Economics, 127(1), 174-196, 2018

International Banking and Cross-Border Effects of Regulation: Lessons from the Netherlands

Joint with Jon Frost and Jakob de Haan
International Journal of Central Banking, 13(1), 293-313, 2017

Exporting Sovereign Stress: Evidence from Syndicated Bank Lending during the Euro Area Sovereign Debt Crisis

Joint with Alexander Popov
Review of Finance, 9(5), 1825-1866, 2015
Winner of the 2016 Pagano and Zechner Prize for the best non-investment paper in the Review of Finance.

The Impact of the Global Financial Crisis on Banking Globalization

Joint with Stijn Claessens
Dowload Data [XLS]
IMF Economic Review, 63(4), 868-918, 2015

Shocks Abroad, Pain at Home? Bank-Firm Level Evidence on the International Transmission of Financial Shocks

Joint with Steven Ongena and Jose Luis Peydro
IMF Economic Review, 63(4), 698-750, 2015

Foreign Banks: Trends and Impact

Joint with Stijn Claessens
Journal of Money, Credit and Banking, 46(1), 295-326, 2014
Winner of the 2017 Emerald Citations of Excellence award

Location Decisions of Foreign Banks and Competitor Remoteness

Joint with Stijn Claessens
Journal of Money, Credit and Banking, 46(1), 145-170, 2014

Running for the Exit? International Bank Lending during a Financial Crisis

Joint with Ralph de Haas
Review of Financial Studies, 26(1), 244-285, 2013
paper featured in the Wall Street Journal, January 6 2019

Impact of Foreign Banks

Joint with Stijn Claessens
Journal of Financial Perspectives, 1(1), 1-18, 2013

International Shock Transmission after the Lehman Brothers Collapse: Evidence from Syndicated Lending

Joint with Ralph de Haas
American Economic Review, Papers and Proceedings, 102(3), 231-237, 2012

Being a Foreigner among Domestic Banks: Asset or Liability?

Joint with Stijn Claessens
Journal of Banking and Finance, 36, 1276-1290, 2012

International Financial Integration through the Law of One Price: The Role of Liquidity and Capital Controls

Joint with Eduardo Levy Yeyati and Sergio Schmukler
Journal of Financial Intermediation, 18(3), 432-463, 2009

Emerging Market Liquidity and Crises

Joint with Eduardo Levy Yeyati and Sergio Schmukler
Journal of the European Economic Association, 6(2-3), 668-682, 2008

Foreign Banking in Developing Countries; Origin Matters

Emerging Markets Review, 8(2), 81-105, 2007
Emerging Markets Review Paper featured in The Economist, September 9 th 2006, pp. 71

Foreign Exchange Market Contagion in the Asian Crisis: A Regression-based Approach

Joint with Henk Jager and Franc Klaassen
Review of World Economics, 142(2), 2-26, 2006

The Price of Inconvertible Deposits: The Stock Market Boom during the Argentine Crisis

Joint with Eduardo Levy Yeyati and Sergio Schmukler
Economics Letters, 83(1), 7-13, 2004

Contributions to policy reports

Small Businesses and the Credit Crunch

EBRD Transition Report 2015-16, European Bank of Reconstruction and Development, Chapter 2

Branching Out: The Rise of Emerging Market Banks

Financial Development Report 2012, World Economic Forum, 47-54