Galina Hale

University of California, Santa Cruz

1156 High St

Santa Cruz, CA 95064

United States

SCHOLARLY PAPERS

35

DOWNLOADS
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SSRN RANKINGS

Top 16,491

in Total Papers Downloads

5,330

SSRN CITATIONS
Rank 3,922

SSRN RANKINGS

Top 3,922

in Total Papers Citations

294

CROSSREF CITATIONS

134

Scholarly Papers (35)

1.

Bonds or Loans? The Effect of Macroeconomic Fundamentals

Yale ICF Working Paper No. 03-02; Cowles Foundation Discussion Paper No. 1403
Number of pages: 54 Posted: 15 Apr 2003
Galina Hale
University of California, Santa Cruz
Downloads 791 (55,007)
Citation 3

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Emerging Markets, Foreign Debt, Debt Composition, Country Risk

The Decision to First Enter the Public Bond Market: The Role of Firm Reputation, Funding Choices, & Bank Relationships

Yale ICF Working Paper No. 04-47
Number of pages: 47 Posted: 06 Dec 2004
Galina Hale and João A. C. Santos
University of California, Santa Cruz and Federal Reserve Bank of New York
Downloads 769 (56,296)
Citation 15

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bond financing, reputation, bank relationships, duration analysis

The Decision to First Enter the Public Bond Market: The Role of Firm Reputation, Funding Choices, & Bank Relationships

Journal of Banking and Finance 32(9), 1928-1940, 2008.
Posted: 23 Jan 2008 Last Revised: 15 Jan 2021
Galina Hale and João A. C. Santos
University of California, Santa Cruz and Federal Reserve Bank of New York

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bond financing, reputation, bank relationships, duration analysis

3.

Is There Evidence of FDI Spillover on Chinese Firms' Productivity and Innovation?

Yale University Economic Growth Center Discussion Paper No. 934
Number of pages: 37 Posted: 20 Apr 2006
Galina Hale and Cheryl Long
University of California, Santa Cruz and Colgate University - Economics Department
Downloads 718 (62,627)

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FDI spillovers, institutions, SOE, privatization, China

4.
Downloads 471 (105,915)
Citation 36

Do Banks Price Their Informational Monopoly?

EFA 2007 Ljubljana Meetings Paper, AFA 2009 San Francisco Meetings Paper
Number of pages: 48 Posted: 25 Mar 2008 Last Revised: 29 Mar 2008
Galina Hale and João A. C. Santos
University of California, Santa Cruz and Federal Reserve Bank of New York
Downloads 471 (104,872)
Citation 36

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Informational rents, loan spreads, bond IPOs, bond spreads, bank relationships

Do Banks Price Their Informational Monopoly?

Journal of Financial Economics (JFE), Vol. 93, 2009
Posted: 26 Sep 2009
Galina Hale and João A. C. Santos
University of California, Santa Cruz and Federal Reserve Bank of New York

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informational rents, loan spreads, Bond IPOs, bond spreads, bank relationships

5.

FDI Spillovers and Firm Ownership in China: Labor Markets and Backward Linkages

Pacific Basin Working Paper No. 2006, Federal Reserve Bank of San Francisco Working Paper No. 2006-25
Number of pages: 38 Posted: 20 Oct 2006
Galina Hale and Cheryl Long
University of California, Santa Cruz and Colgate University - Economics Department
Downloads 396 (129,727)
Citation 7

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FDI spillovers, institutions, SOE, privatization, China

6.

Courage to Capital? A Model of the Effects of Rating Agencies on Sovereign Debt Roll-Over

Number of pages: 25 Posted: 21 Apr 2005
Mark A. Carlson and Galina Hale
Board of Governors of the Federal Reserve System and University of California, Santa Cruz
Downloads 343 (151,974)
Citation 1

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credit rating, rating agency, sovereign debt, global game

Shock Transmission through Cross-Border Bank Lending: Credit and Real Effects

Number of pages: 67 Posted: 16 Mar 2016 Last Revised: 07 Jun 2019
Galina Hale, Tumer Kapan and Camelia Minoiu
University of California, Santa Cruz, International Monetary Fund (IMF) and Federal Reserve Bank of Atlanta
Downloads 211 (247,242)
Citation 2

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cross-border interbank exposures, banking crises, shock transmission, bank loans, real economy

Shock Transmission Through Cross-Border Bank Lending: Credit and Real Effects

FEDS Working Paper No. 2019-52
Number of pages: 68 Posted: 25 Jul 2019 Last Revised: 21 Oct 2019
Galina Hale, Tumer Kapan and Camelia Minoiu
University of California, Santa Cruz, International Monetary Fund (IMF) and Federal Reserve Bank of Atlanta
Downloads 50 (674,088)
Citation 22

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cross-border interbank exposures, banking crises, shocks transmission, bank loans, real economy

8.

Are There Productivity Spillovers from Foreign Direct Investment in China?

FRB of San Francisco Working Paper No. 2006-13
Number of pages: 34 Posted: 26 Jul 2007
Galina Hale and Cheryl Long
University of California, Santa Cruz and Colgate University - Economics Department
Downloads 233 (225,770)
Citation 7

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FDI, spillovers, forward-backward linkages, China

9.

Do Banks Propagate Debt Market Shocks?

Journal of Financial Economic Policy} 6(3), 270-310, 2014.
Number of pages: 45 Posted: 13 Oct 2009 Last Revised: 01 Mar 2021
Galina Hale and João A. C. Santos
University of California, Santa Cruz and Federal Reserve Bank of New York
Downloads 162 (312,926)
Citation 6

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Bank subdebt, bond spreads, lending channel, loan spreads

10.

Currency Crises and Foreign Credit in Emerging Markets: Credit Crunch or Demand Effect?

Number of pages: 34 Posted: 22 Jan 2007
Galina Hale and Carlos Oscar Arteta
University of California, Santa Cruz and Board of Governors of the Federal Reserve - Division of International Finance (IFDP)
Downloads 146 (341,170)
Citation 8

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currency crises, credit rationing, balance--sheet effects, credit constraints, original sin

11.

Sovereign Debt Crises and Credit to the Private Sector

FRB International Finance Discussion Paper No. 878, Federal Reserve Bank of San Francisco Working Paper Series 2006-21
Number of pages: 41 Posted: 03 Aug 2006
Carlos Oscar Arteta and Galina Hale
Board of Governors of the Federal Reserve - Division of International Finance (IFDP) and University of California, Santa Cruz
Downloads 130 (373,340)
Citation 54

Abstract:

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sovereign debt, default, credit rationing, credit constraints

12.

Bank Linkages and International Trade

IDB Working Paper No. IDB-WP-445
Number of pages: 42 Posted: 15 Dec 2013
University of California, Santa Cruz, Vanderbilt University, Inter-American Development Bank (IDB) - Research Department and YP Holdings LLC
Downloads 120 (396,486)
Citation 17

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13.

Who Drove the Boom in Euro-Denominated Bond Issues?

Number of pages: 45 Posted: 02 Apr 2009
Galina Hale and Mark M. Spiegel
University of California, Santa Cruz and Federal Reserve Bank of San Francisco - Economic Research Department
Downloads 89 (487,161)
Citation 1

Abstract:

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bond markets, monetary union, currency risk, original sin, liquidity

14.

Financial Crises and the Composition of Cross-Border Lending

IMF Working Paper No. 14/185
Number of pages: 60 Posted: 02 Jun 2015
Eugenio Cerutti, Galina Hale and Camelia Minoiu
International Monetary Fund (IMF), University of California, Santa Cruz and Federal Reserve Bank of Atlanta
Downloads 82 (512,231)
Citation 18

Abstract:

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Financial crises, Cross-border banking, Loans, Regression analysis, syndicated loans, global financial crisis, BIS international banking statistics, Dealogic Loan Analytics, bank assets, bank capital, banking system, return on assets, banking systems, banking sector, banking crises

15.

Crisis Transmission in the Global Banking Network

IMF Working Paper No. 16/91
Number of pages: 39 Posted: 09 Dec 2016
Galina Hale, Tümer Kapan and Camelia Minoiu
University of California, Santa Cruz, Federal National Mortgage Association (Fannie Mae) and Federal Reserve Bank of Atlanta
Downloads 81 (515,903)

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International banking, External shocks, Financial crises, Banks, Profits, Loans, Financial sector, shock transmission, long-term interbank exposures, systemic banking crises, financial networks, syndicated loans

16.

Stock Market Spillovers via the Global Production Network: Transmission of U.S. Monetary Policy

Journal of Finance, Forthcoming, FRB of New York Staff Report No. 945
Number of pages: 49 Posted: 09 Nov 2020 Last Revised: 19 Nov 2021
Julian di Giovanni and Galina Hale
Federal Reserve Banks - Federal Reserve Bank of New York and University of California, Santa Cruz
Downloads 69 (564,786)
Citation 2

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global production network, asset prices, monetary policy shocks

Institutional Weakness and Stock Price Volatility

NBER Working Paper No. w12127
Number of pages: 28 Posted: 15 May 2006 Last Revised: 20 Feb 2022
Galina Hale, Assaf Razin and Hui Tong
University of California, Santa Cruz, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 55 (644,567)

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Institutional Weakness and Stock Price Volatility

CEPR Discussion Paper No. 5651
Number of pages: 36 Posted: 27 Jul 2006
Assaf Razin, Galina Hale and Hui Tong
Tel Aviv University - Eitan Berglas School of Economics, University of California, Santa Cruz and International Monetary Fund (IMF)
Downloads 9 (1,027,014)
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Credit guarantees, credit constraints, credit growth volatility, stock price volatility

18.

The Impact of Creditor Protection on Stock Prices in the Presence of Liquidity Crises: Theory and Cross-Country Evidence

CESifo Working Paper Series No. 3765
Number of pages: 32 Posted: 04 Apr 2012
Galina Hale, Assaf Razin and Hui Tong
University of California, Santa Cruz, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 61 (601,681)

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liquidity crisis, creditor protection, stock volatility, credit crunch

The Impact of Creditor Protection on Stock Prices in the Presence of Credit Crunches

CESifo Working Paper Series, No. 3440
Number of pages: 29 Posted: 19 May 2011
Galina Hale, Assaf Razin and Hui Tong
University of California, Santa Cruz, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 43 (719,634)

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liquidity crisis, creditor protection, stock volatility, credit crunch

The Impact of Creditor Protection on Stock Prices in the Presence of Credit Crunches

CEPR Discussion Paper No. DP7357
Number of pages: 30 Posted: 26 Aug 2009
Galina Hale, Assaf Razin and Hui Tong
University of California, Santa Cruz, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 3 (1,078,108)
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credit crunch, Tobin Q

Credit Constraints and Stock Price Volatility

NBER Working Paper No. w13089
Number of pages: 31 Posted: 27 Jun 2007 Last Revised: 08 Oct 2022
Galina Hale, Assaf Razin and Hui Tong
University of California, Santa Cruz, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 44 (712,941)

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Credit Constraints and Stock Price Volatility

CEPR Discussion Paper No. DP6310
Number of pages: 33 Posted: 28 May 2008
Galina Hale, Assaf Razin and Hui Tong
University of California, Santa Cruz, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 1 (1,094,830)
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Binding credit constraints, liquidity crises, Tobin-q investment model

Stock Market Spillovers Via the Global Production Network: Transmission of U.S. Monetary Policy

NBER Working Paper No. w28827
Number of pages: 70 Posted: 24 May 2021 Last Revised: 08 Apr 2023
Julian di Giovanni and Galina Hale
Federal Reserve Banks - Federal Reserve Bank of New York and University of California, Santa Cruz
Downloads 43 (719,634)

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Stock Market Spillovers Via the Global Production Network: Transmission of U.S. Monetary Policy

CEPR Discussion Paper No. DP15404
Number of pages: 52 Posted: 03 Nov 2020 Last Revised: 04 Feb 2022
Julian di Giovanni and Galina Hale
Federal Reserve Banks - Federal Reserve Bank of New York and University of California, Santa Cruz
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asset prices, global production network, monetary policy shocks, Spillovers

22.

U.S. Monetary Policy and Fluctuations of International Bank Lending

BIS Working Paper No. 730
Number of pages: 43 Posted: 22 Jun 2018
Stefan Avdjiev and Galina Hale
Bank for International Settlements (BIS) and University of California, Santa Cruz
Downloads 41 (716,101)
Citation 12

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Monetary policy spillovers, Capital flows, Bank lending

23.
Downloads 40 (722,854)
Citation 35

The Euro and the Geography of International Debt Flows

NBER Working Paper No. w20033
Number of pages: 46 Posted: 14 Apr 2014 Last Revised: 29 Mar 2023
Galina Hale and Maurice Obstfeld
University of California, Santa Cruz and University of California, Berkeley
Downloads 39 (748,518)
Citation 13

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The Euro and the Geography of International Debt Flows

CEPR Discussion Paper No. DP9937
Number of pages: 43 Posted: 02 Jun 2014
Galina Hale and Maurice Obstfeld
University of California, Santa Cruz and University of California, Berkeley
Downloads 1 (1,094,830)
Citation 12
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EMU, euro crisis, global imbalances, international banking, international debt

24.

Bank Relationships, Business Cycles, and Financial Crises

NBER Working Paper No. w17356
Number of pages: 47 Posted: 29 Aug 2011 Last Revised: 05 Jun 2022
Galina Hale
University of California, Santa Cruz
Downloads 39 (729,732)
Citation 10

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25.

Inflationary Effects of Fiscal Support to Households and Firms

NBER Working Paper No. w30906
Number of pages: 43 Posted: 01 Feb 2023 Last Revised: 12 Jun 2023
University of California, Santa Cruz, Morning Consult and Federal Reserve Bank of San FranciscoFederal Reserve Banks - Federal Reserve Bank of San Francisco
Downloads 31 (788,769)

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26.

The Impact of Credit Protection on Stock Prices in the Presence of Credit Crunches

NBER Working Paper No. w15141
Number of pages: 28 Posted: 21 Jul 2009 Last Revised: 17 May 2023
Galina Hale, Assaf Razin and Hui Tong
University of California, Santa Cruz, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 26 (829,727)

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27.

Climate Risks and FDI

NBER Working Paper No. w30452
Number of pages: 93 Posted: 12 Sep 2022 Last Revised: 14 Apr 2023
Grace Weishi Gu and Galina Hale
University of California, Santa Cruz - Department of Economics and University of California, Santa Cruz
Downloads 11 (971,885)
Citation 2
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28.

External Balance Sheets and the Covid-19 Crisis

NBER Working Paper No. w29277
Number of pages: 37 Posted: 20 Sep 2021 Last Revised: 01 Jul 2023
Galina Hale and Luciana Juvenal
University of California, Santa Cruz and International Monetary Fund (IMF)
Downloads 10 (981,149)
Citation 1

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29.

Creditor Protection, Contagion, and Stock Market Price Volatility

CEPR Discussion Paper No. DP6658
Number of pages: 39 Posted: 05 Jun 2008
Galina Hale, Assaf Razin and Hui Tong
University of California, Santa Cruz, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 4 (1,029,675)
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Credit crunch, Probit estimation, Tobin-q

30.

Do Looks Matter for an Academic Career in Economics?

CEPR Discussion Paper No. DP15893
Number of pages: 50 Posted: 15 Mar 2021
Galina Hale, Tali Regev and Yona Rubinstein
University of California, Santa Cruz, IDC and London School of Economics & Political Science (LSE) - Department of Management
Downloads 2 (1,043,074)
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31.

External Balance Sheets and the Covid-19 Crisis

CEPR Discussion Paper No. DP15170
Number of pages: 38 Posted: 12 Sep 2020 Last Revised: 15 Mar 2021
Galina Hale and Luciana Juvenal
University of California, Santa Cruz and International Monetary Fund (IMF)
Downloads 2 (1,043,074)
Citation 1
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32.

Creditor Protection and Stock Price Volatility

CEPR Discussion Paper No. DP6540
Number of pages: 37 Posted: 05 Jun 2008
Galina Hale, Assaf Razin and Hui Tong
University of California, Santa Cruz, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 2 (1,043,074)
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collateral, Credit constrained regimes, probability of liquidity crisis

33.

Corporate Yields and Sovereign Yields

CEPR Discussion Paper No. DP14344
Number of pages: 45 Posted: 29 Jan 2020
Julia Bevilaqua, Galina Hale and Eric Tallman
University of California, Santa Cruz, University of California, Santa Cruz and Federal Reserve Banks - Federal Reserve Bank of San Francisco
Downloads 1 (1,050,673)
Citation 7
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bond, crisis, debt

34.

The Euro Crisis in the Mirror of the EMS

CEPR Discussion Paper No. DP13522
Number of pages: 27 Posted: 19 Feb 2019
European University Institute, University of California, Berkeley, University of California, Santa Cruz and Federal Reserve Banks - Federal Reserve Bank of San Francisco
Downloads 1 (1,050,673)
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Backstop, Currency devaluation, financial crises, Sovereign and banking risk

35.

Corporate Yields: Effect of Credit Ratings and Sovereign Yields

CEPR Discussion Paper No. DP14345
Number of pages: 8 Posted: 29 Jan 2020
Julia Bevilaqua, Galina Hale and Eric Tallman
University of California, Santa Cruz, University of California, Santa Cruz and Federal Reserve Banks - Federal Reserve Bank of San Francisco
Downloads 0 (1,059,542)
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bond, Rating, Sovereign