Stijn Claessens

Bank for International Settlements (BIS)

Head of Financial Stability Policy

Centralbahnplatz 2

CH-4002 Basel

Switzerland

  • Bank for International Settlements (BIS)

SCHOLARLY PAPERS

136

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90,087

SSRN CITATIONS
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3,204

CROSSREF CITATIONS

2,788

Scholarly Papers (136)

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1.

On Expropriation of Minority Shareholders: Evidence from East Asia

Number of pages: 51 Posted: 13 Feb 2000
Stijn Claessens, Joseph P. H. Fan, Simeon Djankov and Larry H.P. Lang
Bank for International Settlements (BIS), The Chinese University of Hong Kong (CUHK) - School of Accountancy, London School of Economics & Political Science (LSE) and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 4,311 (4,628)
Citation 47

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2.

Fintech Credit Markets Around the World: Size, Drivers and Policy Issues

BIS Quarterly Review September 2018
Number of pages: 21 Posted: 30 Nov 2018
Stijn Claessens, Jon Frost, Grant Turner and Feng Zhu
Bank for International Settlements (BIS), Bank for International Settlements, Reserve Bank of Australia and Ant Financial
Downloads 4,101 (5,055)
Citation 33

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3.

The Separation of Ownership and Control in East Asian Corporations

Number of pages: 47 Posted: 23 May 2000
Stijn Claessens, Simeon Djankov and Larry H.P. Lang
Bank for International Settlements (BIS), London School of Economics & Political Science (LSE) and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 3,956 (5,336)
Citation 324

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4.

Corporate Governance in Asia: A Survey

Number of pages: 43 Posted: 28 Apr 2003
Stijn Claessens and Joseph P. H. Fan
Bank for International Settlements (BIS) and The Chinese University of Hong Kong (CUHK) - School of Accountancy
Downloads 3,621 (6,218)
Citation 38

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5.

Corporate Governance in Emerging Markets: A Survey

Number of pages: 77 Posted: 20 Jan 2012 Last Revised: 22 Jan 2012
Stijn Claessens and B. Burcin Yurtoglu
Bank for International Settlements (BIS) and WHU - Otto Beisheim School of Management
Downloads 3,202 (7,564)
Citation 32

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Corporate Governance, Emerging Markets, Survey

6.

Corporate Governance and Regulation: Can There be too Much of a Good Thing?

Downloads 3,101 ( 7,963)
Citation 20

Corporate Governance and Regulation: Can There be too Much of a Good Thing?

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 142/2007, Journal of Financial Intermediation, Forthcoming, AFA 2008 New Orleans Meetings Paper
Number of pages: 50 Posted: 17 Jan 2007 Last Revised: 09 Nov 2018
Valentina Bruno and Stijn Claessens
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 2,262 (12,920)
Citation 14

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Corporate governance, Country regulation, Company valuation, Cost of capital

Corporate Governance and Regulation: Can There Be Too Much of a Good Thing?

World Bank Policy Research Working Paper No. 4140
Number of pages: 50 Posted: 20 Apr 2016
Valentina Bruno and Stijn Claessens
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 833 (56,865)

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National Governance, Governance Indicators, Corporate Law, Microfinance, Small Scale Enterprise

Corporate Governance and Regulation: Can There Be Too Much of a Good Thing?

CEPR Discussion Paper No. DP6108
Number of pages: 57 Posted: 16 May 2008
Valentina Bruno and Stijn Claessens
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 6 (1,183,441)
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Company valuation, corporate governance practices, regulatory regimes

7.

The Cross-Section of Stock Returns: Evidence from Emerging Markets

World Bank Policy Research Working Paper No. 1505
Number of pages: 28 Posted: 20 Apr 2016
Stijn Claessens, Susmita Dasgupta and Jack D. Glen
Bank for International Settlements (BIS), World Bank - Development Research Group (DECRG) and International Finance Corporation (IFC)
Downloads 2,371 (12,186)

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8.

Regulating Cryptocurrencies: Assessing Market Reactions

BIS Quarterly Review September 2018
Number of pages: 15 Posted: 30 Nov 2018
Raphael Auer and Stijn Claessens
Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 2,265 (13,142)
Citation 15

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9.

Expropriation of Minority Shareholders: Evidence from East Asia

Number of pages: 33 Posted: 20 Apr 2016
Joseph P. H. Fan, Stijn Claessens, Simeon Djankov and Larry H.P. Lang
The Chinese University of Hong Kong (CUHK) - School of Accountancy, Bank for International Settlements (BIS), London School of Economics & Political Science (LSE) and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 1,777 (19,256)

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10.

Lessons and Policy Implications from the Global Financial Crisis

IMF Working Paper No. 10/44
Number of pages: 41 Posted: 02 Mar 2010
Luc Laeven, Deniz Igan, Stijn Claessens and Giovanni Dell'Ariccia
European Central Bank (ECB), International Monetary Fund (IMF) - Financial Studies Division, Bank for International Settlements (BIS) and International Monetary Fund (IMF) - Research Department
Downloads 1,752 (19,652)
Citation 1

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Asset prices, Bank regulations, Bank supervision, Central bank role, Financial crisis, Financial sector, Fiscal policy, Fiscal reforms, Global Financial Crisis 2008-2009, International financial system, Intervention, Liquidity management, Price increases, Stabilization measures

11.

Corporate Governance and Development

Downloads 1,742 (19,835)
Citation 21

Corporate Governance and Development

Number of pages: 56 Posted: 05 Jan 2005
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 1,742 (19,488)
Citation 21

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Corporate governance, development, finance

Corporate Governance and Development

World Bank Research Observer, Vol. 21, No. 1, pp. 91-122, 2006
Posted: 29 Feb 2008
Stijn Claessens
Bank for International Settlements (BIS)

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12.

Foreign Bank Presence in Developing Countries 1995-2006: Data and Trends

Number of pages: 51 Posted: 19 Mar 2008
Stijn Claessens, Neeltje van Horen, Tugba Gurcanlar and Joaquin Mercado Sapiain
Bank for International Settlements (BIS), Bank of England, World Bank and World Bank
Downloads 1,564 (23,395)
Citation 40

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foreign direct investment, international banking, cross-border banking

13.

How Does Foreign Entry Affect the Domestic Banking Market?

Downloads 1,563 (23,420)
Citation 356

How Does Foreign Entry Affect the Domestic Banking Market?

Number of pages: 30 Posted: 20 Apr 2016
Asli Demirgüç-Kunt, Harry Huizinga and Stijn Claessens
World Bank, Tilburg University - Center for Economic Research (CentER) and Bank for International Settlements (BIS)
Downloads 1,355 (28,417)
Citation 18

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How Does Foreign Entry Affect the Domestic Banking Market?

World Bank Policy Research Working Paper No. 1918
Number of pages: 20 Posted: 10 Jan 2017
Stijn Claessens, Asli Demirgüç-Kunt and Harry Huizinga
Bank for International Settlements (BIS), World Bank and Tilburg University - Center for Economic Research (CentER)
Downloads 208 (280,602)
Citation 54

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Access to Finance, Legal Products, Youth and Governance, Public Finance Decentralization and Poverty Reduction, Social Policy, Legislation, Non Governmental Organizations, Public Sector Management and Reform, Economics and Institutions, Judicial System Reform, Legal Reform, Regulatory Regimes, Debt Markets, National Governance, Public Sector Economics, Government Policies, External Debt

14.

What Drives Bank Competition? Some International Evidence

Number of pages: 34 Posted: 29 Feb 2004
Luc Laeven and Stijn Claessens
European Central Bank (ECB) and Bank for International Settlements (BIS)
Downloads 1,501 (24,905)
Citation 16

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Banking, competition, contestability, Panzar and Rosse

15.

Enforcement and Corporate Governance

Number of pages: 49 Posted: 20 Apr 2016
Erik Berglöf and Stijn Claessens
Institute of Global Affairs, London School of Economics and Political Science and Bank for International Settlements (BIS)
Downloads 1,431 (26,720)
Citation 2

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16.

Privatization and Restructuring in Central and Eastern Europe: Evidence and Policy Options

Number of pages: 42 Posted: 23 Oct 1997
Gerhard Pohl, Robert E. Anderson, Stijn Claessens and Simeon Djankov
World Bank, affiliation not provided to SSRN, Bank for International Settlements (BIS) and London School of Economics & Political Science (LSE)
Downloads 1,428 (26,807)
Citation 1

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17.

Stock Markets in Transition Economies

Financial Sector Discussion Paper No. 5
Number of pages: 32 Posted: 01 Sep 2000
Stijn Claessens, Simeon Djankov and Daniela Klingebiel
Bank for International Settlements (BIS), London School of Economics & Political Science (LSE) and World Bank - Policy Unit
Downloads 1,377 (28,282)
Citation 44

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18.

Political Connections and Preferential Access to Finance: The Role of Campaign Contributions

Downloads 1,355 (28,904)
Citation 331

Political Connections and Preferential Access to Finance: The Role of Campaign Contributions

Journal of Financial Economics, Vol. 88, No. 3, AFA 2008 New Orleans Meetings Paper, ECGI - Finance Working Paper No. 166/2007
Number of pages: 61 Posted: 21 Mar 2007
Stijn Claessens, Erik Feyen and Luc Laeven
Bank for International Settlements (BIS), World Bank - Finance & Markets Global Practice and European Central Bank (ECB)
Downloads 1,276 (31,117)
Citation 94

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Campaign Contributions, Elections, Corruption, Preferential Lending

Political Connections and Preferential Access to Finance: The Role of Campaign Contributions

ECGI - Finance Working Paper No. 143/2007, Journal of Financial Economics, Forthcoming
Number of pages: 61 Posted: 08 Dec 2006
Stijn Claessens, Erik Feyen and Luc Laeven
Bank for International Settlements (BIS), World Bank - Finance & Markets Global Practice and European Central Bank (ECB)
Downloads 79 (597,636)
Citation 166

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Campaign Contributions, Elections, Rent-seeking, Preferential Lending

19.

What is Shadow Banking?

IMF Working Paper No. 14/25
Number of pages: 9 Posted: 04 Feb 2015
Stijn Claessens, Lev Ratnovski and Lev Ratnovski
Bank for International Settlements (BIS) and International Monetary FundEuropean Central Bank, Financial Research Division
Downloads 1,322 (30,066)
Citation 9

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20.

Resolution of Corporate Distress: Evidence from East Asia's Financial Crisis

Number of pages: 33 Posted: 21 Sep 1999
Stijn Claessens, Simeon Djankov and Leora F. Klapper
Bank for International Settlements (BIS), London School of Economics & Political Science (LSE) and World Bank
Downloads 1,231 (33,309)
Citation 5

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21.

Corporate Governance and Development: An Update

2012, Focus 10, Global Corporate Governance Network, IFC.
Number of pages: 108 Posted: 20 May 2012 Last Revised: 21 Feb 2015
Stijn Claessens and B. Burcin Yurtoglu
Bank for International Settlements (BIS) and WHU - Otto Beisheim School of Management
Downloads 1,184 (35,284)

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22.

Understanding Financial Crises: Causes, Consequences, and Policy Responses

Downloads 1,166 (35,966)
Citation 23

Understanding Financial Crises: Causes, Consequences, and Policy Responses

CAMA Working Paper 05/2013
Number of pages: 23 Posted: 19 Jul 2013
Stijn Claessens, M. Ayhan Kose, Luc Laeven and Fabián Valencia
Bank for International Settlements (BIS), World Bank, European Central Bank (ECB) and International Monetary Fund (IMF)
Downloads 1,146 (36,290)
Citation 41

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Global financial crisis, sudden stops, debt crises, banking crises, currency crises, defaults, restructuring, welfare cost, asset price busts, credit busts, prediction of crises

Understanding Financial Crises: Causes, Consequences, and Policy Responses

CEPR Discussion Paper No. DP9310
Number of pages: 24 Posted: 01 Feb 2013
Stijn Claessens, M. Ayhan Kose, Luc Laeven and Fabián Valencia
Bank for International Settlements (BIS), World Bank, European Central Bank (ECB) and International Monetary Fund (IMF)
Downloads 20 (1,019,099)
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asset price busts, banking crises, credit busts, currency crises, debt crises, defaults, global financial crisis, prediction of crises, restructuring, sudden stops, welfare cost

23.

Basel Ii, Sovereign Ratings and Transfer Risk External Versus Internal Ratings

Number of pages: 33 Posted: 07 May 2003
Stijn Claessens and Geert C.M.W. Embrechts
Bank for International Settlements (BIS) and Rabobank International - Structured Trade and Commodity Finance
Downloads 1,108 (38,714)
Citation 9

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24.

Frontiers of Macrofinancial Linkages

BIS Paper No. 95
Number of pages: 199 Posted: 25 Jan 2018
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 1,088 (39,784)
Citation 16

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25.

Current Challenges in Financial Regulation

World Bank Policy Research Working Paper No. 4103
Number of pages: 48 Posted: 20 Apr 2016
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 1,088 (39,784)

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Banks & Banking Reform, Financial Intermediation, Non Bank Financial Institutions, Economic Theory & Research, ICT Policy and Strategies

26.

Diversification and Efficiency of Investment of East Asian Corporations

Number of pages: 31 Posted: 26 Feb 1999
Stijn Claessens, Joseph P. H. Fan, Simeon Djankov and Larry H.P. Lang
Bank for International Settlements (BIS), The Chinese University of Hong Kong (CUHK) - School of Accountancy, London School of Economics & Political Science (LSE) and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 1,080 (40,211)
Citation 12

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27.

Location Decisions of Foreign Banks and Institutional Competitive Advantage

Downloads 1,041 (42,358)
Citation 12

Location Decisions of Foreign Banks and Institutional Competitive Advantage

Number of pages: 33 Posted: 17 Mar 2008 Last Revised: 10 Oct 2011
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and Bank of England
Downloads 582 (90,498)
Citation 15

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foreign direct investment, international banking, institutions

Location Decisions of Foreign Banks and Competitive Advantage

World Bank Policy Research Working Paper No. 4113
Number of pages: 21 Posted: 20 Apr 2016
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and Bank of England
Downloads 459 (121,129)

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Banks & Banking Reform, Foreign Direct Investment, Country Strategy & Performance, Corporate Law, Economic Theory & Research

28.

Ownership and Corporate Governance: Evidence from the Czech Republic

Number of pages: 22 Posted: 08 Aug 1997
Stijn Claessens, Simeon Djankov and Gerhard Pohl
Bank for International Settlements (BIS), London School of Economics & Political Science (LSE) and World Bank
Downloads 1,037 (42,595)

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29.

Bankruptcy Around the World: Explanations of its Relative Use

Number of pages: 44 Posted: 24 Jun 2003
Stijn Claessens and Leora F. Klapper
Bank for International Settlements (BIS) and World Bank
Downloads 980 (46,109)
Citation 10

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30.

Foreign Banks: Trends, Impact and Financial Stability

Downloads 925 (49,991)
Citation 125

Foreign Banks: Trends, Impact and Financial Stability

De Nederlandsche Bank Working Paper No. 330
Number of pages: 49 Posted: 28 Dec 2011 Last Revised: 04 Jan 2012
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and Bank of England
Downloads 502 (108,865)
Citation 59

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foreign banks, foreign direct investment, cross-border banking, bilateral investment, financial globalization, financial sector development, financial stability, spillovers, financial crisis

Foreign Banks: Trends, Impact and Financial Stability

IMF Working Paper No. 12/10
Number of pages: 42 Posted: 18 Jan 2010
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and affiliation not provided to SSRN
Downloads 256 (229,636)

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Foreign Banks, Foreign Direct Investment, Cross-border Banking, Bilateral Investment, Financial Globalization, Financial Sector Development, Financial Stability, Spillovers, Financial Crisis, Banking Systems, Foreign Investment, International Banking

Foreign Banks: Trends, Impact and Financial Stability

IMF Working Paper No. NO.12/10
Number of pages: 40 Posted: 02 Feb 2012
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and affiliation not provided to SSRN
Downloads 167 (342,673)
Citation 4

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Foreign Banks, Foreign Direct Investment, Cross-border Banking, Bilateral Investment, Financial Globalization, Financial Sector Development, Financial Stability, Spillovers, Financial Crisis, Banking Systems, Foreign Investment, International Banking

31.

The Benefits and Costs of Group Affiliation: Evidence from East Asia

Downloads 896 (52,204)
Citation 44

The Benefits and Costs of Group Affiliation: Evidence from East Asia

Number of pages: 46 Posted: 16 Apr 2002
Stijn Claessens, Joseph P. H. Fan and Larry H.P. Lang
Bank for International Settlements (BIS), The Chinese University of Hong Kong (CUHK) - School of Accountancy and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 869 (53,670)
Citation 31

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Business Groups, Agency Problem, Internal Financial Markets, East Asia

The Benefits and Costs of Group Affiliation: Evidence from East Asia

Number of pages: 49 Posted: 14 Jun 2002
Stijn Claessens, Joseph P. H. Fan and Larry H.P. Lang
Bank for International Settlements (BIS), The Chinese University of Hong Kong (CUHK) - School of Accountancy and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 27 (944,767)
Citation 16
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Groups, agency costs, emerging markets

32.

Thailand's Corporate Financing and Governance Structures

Number of pages: 26 Posted: 20 Apr 2016
Pedro Alba, Stijn Claessens and Simeon Djankov
World Bank, Bank for International Settlements (BIS) and London School of Economics & Political Science (LSE)
Downloads 893 (52,430)

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33.

Corporate Diversification in East Asia: The Role of Ultimate Ownership and Group Affiliation

Number of pages: 32 Posted: 20 Apr 2016
Joseph P. H. Fan, Stijn Claessens, Simeon Djankov and Larry H.P. Lang
The Chinese University of Hong Kong (CUHK) - School of Accountancy, Bank for International Settlements (BIS), London School of Economics & Political Science (LSE) and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 867 (54,645)
Citation 1

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34.

Financial Restructuring in East Asia: Halfway There?

Financial Sector Discussion Paper No. 3.
Number of pages: 37 Posted: 13 Sep 2001
Stijn Claessens, Simeon Djankov and Daniela Klingebiel
Bank for International Settlements (BIS), London School of Economics & Political Science (LSE) and World Bank - Policy Unit
Downloads 831 (57,899)
Citation 19

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Banking Crises, restructuring, emerging markets, public policy, regulation.

35.

Financial Dependence, Banking Sector Competition, and Economic Growth

Number of pages: 49 Posted: 01 Feb 2005
Stijn Claessens and Luc Laeven
Bank for International Settlements (BIS) and European Central Bank (ECB)
Downloads 802 (60,731)
Citation 7

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Banking, competition, contestability, economic growth

36.

Impact of Foreign Banks

Downloads 799 (61,069)
Citation 22

Impact of Foreign Banks

Journal of Financial Perspectives, Vol. 1, No. 1, 2013
Number of pages: 18 Posted: 26 Nov 2017
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and Bank of England
Downloads 489 (112,233)
Citation 6

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foreign direct investment, international banking, distance

Impact of Foreign Banks

De Nederlandsche Bank Working Paper No. 370
Number of pages: 28 Posted: 07 Feb 2013
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and Bank of England
Downloads 310 (188,321)
Citation 16

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foreign direct investment, international banking, distance

37.

The Internationalization of Financial Services in Asia

Number of pages: 60 Posted: 20 Apr 2016
Stijn Claessens and Thomas Glaessner
Bank for International Settlements (BIS) and World Bank
Downloads 774 (63,683)

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38.

E-Finance in Emerging Markets: Is Leapfrogging Possible?

Number of pages: 88 Posted: 05 Sep 2001
Stijn Claessens, Thomas Glaessner and Daniela Klingebiel
Bank for International Settlements (BIS), World Bank and World Bank - Policy Unit
Downloads 751 (66,256)
Citation 13

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Financial services, emerging markets, electronic finance, public policy, regulation

39.

Corporate Risk Around the World

Number of pages: 52 Posted: 20 Apr 2016
Tatiana Nenova, Tatiana Nenova, Stijn Claessens and Simeon Djankov
World Bank, South AsiaWorld Bank - Policy Unit, Bank for International Settlements (BIS) and London School of Economics & Political Science (LSE)
Downloads 748 (66,591)
Citation 2

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40.

Who Controls East Asian Corporations?

Number of pages: 40 Posted: 20 Apr 2016
Stijn Claessens and Simeon Djankov
Bank for International Settlements (BIS) and London School of Economics & Political Science (LSE)
Downloads 745 (66,965)
Citation 1

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41.

Financial Crises: Explanations, Types and Implications

Downloads 744 (67,091)
Citation 25

Financial Crises: Explanations, Types and Implications

CAMA Working Paper 06/2013
Number of pages: 66 Posted: 19 Jul 2013
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 377 (152,324)
Citation 39

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Sudden stops, debt crises, banking crises, currency crises, defaults, policy implications, financial restructuring, asset booms, credit booms, crises prediction

Financial Crises Explanations, Types, and Implications

IMF Working Paper No. 13/28
Number of pages: 67 Posted: 22 Feb 2013
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 359 (160,804)
Citation 2

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Sudden stops, asset booms, banking crises, credit booms, crises prediction., currency crises, debt crises, defaults, financial restructuring, policy implications

Financial Crises: Explanations, Types, and Implications

CEPR Discussion Paper No. DP9329
Number of pages: 67 Posted: 05 Feb 2013
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 8 (1,159,785)
Citation 3
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asset booms, banking crises, credit booms, crises prediction, currency crises, debt crises, defaults, financial restructuring, policy implications, Sudden stops

42.

Law, Property Rights and Growth

Number of pages: 34 Posted: 05 Jun 2001
Stijn Claessens and Luc Laeven
Bank for International Settlements (BIS) and European Central Bank (ECB)
Downloads 744 (67,091)

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43.

Access to Financial Services: A Review of the Issues and Public Policy Objectives

Number of pages: 38 Posted: 20 Jun 2005
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 738 (67,786)
Citation 14

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44.

Regulating Big Techs in Finance

Number of pages: 9 Posted: 07 Sep 2021
Agustín Carstens, Stijn Claessens, Fernando Restoy and Hyun Song Shin
Bank for International Settlements (BIS), Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Financial Stability Institute and Bank for International Settlements (BIS)
Downloads 734 (68,265)
Citation 19

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45.

Paths to Eurobonds

IMF Working Paper No. 12/172
Number of pages: 40 Posted: 01 Nov 2012
Stijn Claessens, Ashoka Mody and Shahin Vallée
Bank for International Settlements (BIS), International Monetary Fund (IMF) - Research Department and London School of Economics & Political Science (LSE), European Institute, Students
Downloads 732 (68,500)
Citation 2

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Eurobonds, Eurozone, Fiscal Risk-sharing, European Monetary Union, Financial Stability, Monetary Transmission Mechanism, Sovereign Debt, General Economics, Teaching of Economics

46.

Finance and Inequality: Channels and Evidence

Number of pages: 41 Posted: 10 Jul 2007
Stijn Claessens and Enrico C. Perotti
Bank for International Settlements (BIS) and University of Amsterdam - Finance Group
Downloads 732 (68,500)
Citation 34

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financial development, entry, inequality, politics, access to financial services

47.

What Happens During Recessions, Crunches, and Busts?

Downloads 728 (68,992)
Citation 74

What Happens During Recessions, Crunches, and Busts?

IMF Working Paper No. 08/274
Number of pages: 77 Posted: 18 Dec 2008
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements (BIS), World Bank and International Monetary Fund (IMF)
Downloads 516 (105,216)
Citation 11

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Economic recession, Business cycles, Financial crisis, Credit, Housing prices, Stock prices, Oil prices, Databases, Economic models

What Happens during Recessions, Crunches and Busts?

Number of pages: 68 Posted: 22 Dec 2008
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements (BIS), World Bank and International Monetary Fund (IMF)
Downloads 206 (283,203)
Citation 27

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Business cycles, recessions, credit crunches, house prices, equity prices, busts

What Happens during Recessions, Crunches and Busts?

CEPR Discussion Paper No. DP7085
Number of pages: 78 Posted: 17 Feb 2009
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements (BIS), World Bank and International Monetary Fund (IMF)
Downloads 6 (1,183,441)
Citation 13
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business cycles, busts, credit crunches, equity prices, house prices, recessions

48.

Electronic Finance: Reshaping the Financial Landscape Around the World

Downloads 716 (70,498)

Electronic Finance: Reshaping the Financial Landscape Around the World

Number of pages: 36 Posted: 09 Jun 2001
Stijn Claessens, Thomas Glaessner and Daniela Klingebiel
Bank for International Settlements (BIS), World Bank and World Bank - Policy Unit
Downloads 716 (69,466)
Citation 21

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Financial services, emerging markets, electronic finance, public policy, regulation

Electronic Finance: Reshaping the Financial Landscape Around the World

Posted: 08 Mar 2003
Stijn Claessens, Thomas Glaessner and Daniela Klingebiel
Bank for International Settlements (BIS), World Bank and World Bank - Policy Unit

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E-finance, financial sector development, developing countries, financial sector regulation

49.

Corporate Growth, Financing, and Risks in the Decade Before East Asia's Financial Crisis

Number of pages: 23 Posted: 20 Apr 2016
Stijn Claessens, Simeon Djankov and Larry H.P. Lang
Bank for International Settlements (BIS), London School of Economics & Political Science (LSE) and The Chinese University of Hong Kong (CUHK) - Department of Finance
Downloads 711 (71,166)

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50.

The Political Economy of Distress in East Asian Financial Institutions

Downloads 692 (73,687)
Citation 3

The Political Economy of Distress in East Asian Financial Institutions

Number of pages: 22 Posted: 05 May 2000
Paola Bongini, Stijn Claessens and Giovanni Ferri
Università degli Studi di Milano-Bicocca, Bank for International Settlements (BIS) and LUMSA University
Downloads 692 (72,601)
Citation 3

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financial sector fragility, early warning systems, East-Asia financial crisis

The Political Economy of Distress in East Asian Financial Institutions

Posted: 02 Oct 2001
Stijn Claessens, Paola Bongini and Giovanni Ferri
Bank for International Settlements (BIS), Università degli Studi di Milano-Bicocca and LUMSA University

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Financial Sector Fragility, Early Warning Systems, East Asian Financial Crisis

51.

'Low-for-Long' Interest Rates and Banks' Interest Margins and Profitability: Cross-Country Evidence

FRB International Finance Discussion Paper No. 1197
Number of pages: 42 Posted: 27 Feb 2017
Stijn Claessens, Nicholas Coleman and Michael Donnelly
Bank for International Settlements (BIS), Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 669 (76,871)
Citation 75

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Interest rates, Bank profitability, Net interest margin, Low-for-long

52.

Asset Prices and Macroeconomic Outcomes: A Survey

Downloads 589 (90,273)
Citation 4

Asset Prices and Macroeconomic Outcomes: A Survey

BIS Working Paper No. 676
Number of pages: 106 Posted: 11 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 410 (138,431)

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equity prices, exchange rates, house prices, interest rates, credit, output, consumption, investment, real-financial linkages, macrofinancial linkages, imperfections, frictions

Asset Prices and Macroeconomic Outcomes: A Survey

World Bank Policy Research Working Paper No. 8259
Number of pages: 98 Posted: 01 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 91 (547,203)

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Macroeconomic Management, Economic Forecasting, Rural Labor Markets, Governance Diagnostic Capacity Building

Asset Prices and Macroeconomic Outcomes: A Survey

CAMA Working Paper No. 76/2017
Number of pages: 98 Posted: 01 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 88 (559,097)
Citation 2

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equity prices, exchange rates, house prices, interest rates, credit, output, consumption, investment, real-financial linkages, macro-financial linkages, imperfections, frictions

Asset Prices and Macroeconomic Outcomes: A Survey

CEPR Discussion Paper No. DP12460
Number of pages: 99 Posted: 01 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 0
Citation 3
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asset prices, equity prices, frictions, imperfections, macro-financial linkages, real-financial linkages

53.

Shadow Banking: Economics and Policy

Number of pages: 37 Posted: 11 Dec 2012
Stijn Claessens, Zoltan Pozsar, Zoltan Pozsar, Lev Ratnovski, Lev Ratnovski and Manmohan Singh
Bank for International Settlements (BIS), Credit SuisseShadow Banking Colloquium (INET), International Monetary FundEuropean Central Bank, Financial Research Division and International Monetary Fund (IMF)
Downloads 553 (97,715)
Citation 12

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shadow banking, securitization, collateral, systemic risk

54.

Resolving Systemic Financial Crises: Policies and Institutions

Number of pages: 38 Posted: 20 Apr 2016
Stijn Claessens, Daniela Klingebiel and Luc Laeven
Bank for International Settlements (BIS), World Bank - Policy Unit and European Central Bank (ECB)
Downloads 540 (100,737)

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55.

Banks and Labor as Stakeholders: Impact on Economic Performance

Downloads 533 (102,327)
Citation 4

Banks and Labor as Stakeholders: Impact on Economic Performance

IMF Working Paper No. 08/229
Number of pages: 41 Posted: 08 Oct 2008
Stijn Claessens and Kenichi Ueda
Bank for International Settlements (BIS) and University of Tokyo - Faculty of Economics
Downloads 239 (245,845)

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Working Paper

Banks and Labor as Stakeholders: Impact on Economic Performance

Number of pages: 49 Posted: 27 Jan 2010
Stijn Claessens and Kenichi Ueda
Bank for International Settlements (BIS) and University of Tokyo - Faculty of Economics
Downloads 174 (330,554)
Citation 2

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Corporate Governance, Stakeholders, Shareholders’ Value Maximization, Financial Liberalization, Employment Protection, Banking, Knowledge Intensity

Banks and Labor as Stakeholders: Impact on Economic Performance

Number of pages: 37 Posted: 06 Feb 2018 Last Revised: 06 Mar 2018
Stijn Claessens and Kenichi Ueda
Bank for International Settlements (BIS) and University of Tokyo - Faculty of Economics
Downloads 120 (448,292)
Citation 2

Abstract:

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Institutions and Growth, Worker Monopoly Rights, Labor Protection, Bank Monopoly and Competition

56.

Explaining the Migration of Stocks from Exchanges in Emerging Economies to International Center

Number of pages: 38 Posted: 22 Dec 2004
Stijn Claessens, Daniela Klingebiel and Sergio L. Schmukler
Bank for International Settlements (BIS), World Bank - Policy Unit and World Bank - Development Research Group (DECRG)
Downloads 526 (103,948)
Citation 2

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stock market development, internationalization of financial markets, trading migration, emerging economies

57.

Macroeconomic Implications of Financial Imperfections: A Survey

Downloads 521 (105,190)
Citation 3

Macroeconomic Implications of Financial Imperfections: A Survey

BIS Working Paper No. 677
Number of pages: 124 Posted: 11 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 402 (141,582)

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asset prices, balance sheets, credit, financial accelerator, financial intermediation, financial linkages, international linkages, leverage, liquidity, macrofinancial linkages, output, real-financial linkages

Macroeconomic Implications of Financial Imperfections: A Survey

World Bank Policy Research Working Paper No. 8260
Number of pages: 116 Posted: 01 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 72 (630,730)

Abstract:

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Macroeconomic Management, Economic Forecasting, Governance Diagnostic Capacity Building

Macroeconomic Implications of Financial Imperfections: A Survey

CAMA Working Paper No. 75/2017
Number of pages: 116 Posted: 01 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
Downloads 47 (776,811)

Abstract:

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asset prices, balance sheets, credit, financial accelerator, financial intermediation, financial linkages, international linkages, leverage, liquidity, macro-financial linkages, output, real-financial linkages

Macroeconomic Implications of Financial Imperfections: A Survey

CEPR Discussion Paper No. DP12461
Number of pages: 117 Posted: 01 Dec 2017
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements (BIS) and World Bank
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Citation 2
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macro-financial linkages; real-financial linkages; financial accelerator

58.

International Financial Integration Through Equity Markets: Which Firms from Which Countries Go Global?

Downloads 516 (106,461)
Citation 31

International Financial Integration Through Equity Markets: Which Firms from Which Countries Go Global?

World Bank Policy Research Working Paper No. 4146, IMF Working Paper No. 07/138
Number of pages: 49 Posted: 20 Apr 2016
Stijn Claessens and Sergio L. Schmukler
Bank for International Settlements (BIS) and World Bank - Development Research Group (DECRG)
Downloads 315 (185,136)

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Investment and Investment Climate, Economic Theory & Research, Markets and Market Access, Microfinance, Small Scale Enterprise

International Financial Integration Through Equity Markets: Which Firms from Which Countries Go Global?

IMF Working Paper No. 07/138
Number of pages: 48 Posted: 23 Aug 2007
Stijn Claessens and Sergio L. Schmukler
Bank for International Settlements (BIS) and World Bank - Development Research Group (DECRG)
Downloads 198 (293,719)
Citation 8

Abstract:

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Working Paper, Financial integration, International capital markets, Globalization, Capital accumulation, Stock markets

International Financial Integration Through Equity Markets: Which Firms from Which Countries Go Global?

CEPR Discussion Paper No. DP6137
Number of pages: 52 Posted: 19 May 2008
Stijn Claessens and Sergio L. Schmukler
Bank for International Settlements (BIS) and World Bank - Development Research Group (DECRG)
Downloads 3 (1,220,230)
Citation 4
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Access to capital markets, globalization of financial markets, international financial integration, internationalization

59.

Managers, Incentives and Corporate Performance: Evidence from the Czech Republic

Number of pages: 24 Posted: 14 Nov 1997
Stijn Claessens and Simeon Djankov
Bank for International Settlements (BIS) and London School of Economics & Political Science (LSE)
Downloads 508 (108,530)
Citation 17

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60.

The Regulatory Responses to the Global Financial Crisis: Some Uncomfortable Questions

IMF Working Paper No. 14/46
Number of pages: 40 Posted: 10 Apr 2014
Stijn Claessens and Laura E. Kodres
Bank for International Settlements (BIS) and International Monetary Fund (IMF) - Research Department
Downloads 481 (115,819)
Citation 8

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Financial systems, Fiscal risk, Financial crisis, Fiscal policy, Fiscal reforms, Macroprudential Policy, Monetary policy, Risk management, Financial crises, regulation, systemic risks, macroprudential policies, financial stability, financial institutions, financial services, financial markets, financial sector, financial intermediation, derivatives markets, financial regulation, moral hazard, financial reform, financial reforms, deposit insurance, international financial markets, money market, financial regulations, stock price, financial liberalization, financial sector performance, financial innovation, derivatives exchanges, futures contracts, stock prices, financial statements, internati

61.

The Global Financial Crisis: How Similar? How Different? How Costly?

Number of pages: 34 Posted: 23 Mar 2010
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements (BIS), World Bank and International Monetary Fund (IMF)
Downloads 476 (117,289)
Citation 23

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Global financial crisis, Similarities, Differences, Cost, Recessions

62.

Financial Sector Development and the Millennium Development Goals

World Bank Working Paper No. 89
Number of pages: 16 Posted: 22 Feb 2007
Stijn Claessens and Erik Feyen
Bank for International Settlements (BIS) and World Bank - Finance & Markets Global Practice
Downloads 475 (117,611)
Citation 1

Abstract:

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Millennium Development Goals, Financial Sector Development, Poverty, Growth: Access to Finance

63.

Competitive Implications of Cross-Border Banking

World Bank Policy Research Working Paper No. 3854
Number of pages: 25 Posted: 20 Apr 2016
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 450 (125,354)
Citation 1

Abstract:

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Banks & Banking Reform, Economic Theory & Research, Financial Intermediation, Knowledge Economy, Education for the Knowledge Economy

64.

Corporate Governance and Equity Prices: Evidence from the Czech and Slovak Republics

Number of pages: 34 Posted: 20 Apr 2016
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 449 (125,649)
Citation 1

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65.

Foreign Direct Investment, Other Capital Flows and Current Account Deficits: What Causes What?

Number of pages: 56 Posted: 06 Jan 2005
Maxwell J. Fry, Stijn Claessens, Peter Burridge and Marie-Christine Blanchet
University of Birmingham, Bank for International Settlements (BIS), City University London - Department of Economics and affiliation not provided to SSRN
Downloads 407 (140,896)

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66.

Fragmentation in Global Financial Markets: Good or Bad for Financial Stability?

BIS Working Paper No. 815
Number of pages: 29 Posted: 08 Oct 2019
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 392 (147,083)
Citation 2

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financial stability, fragmentation, segmentation, financial integration, regulation, international cooperation

67.

Volatility and Contagion in a Financially Integrated World: Lessons from East Asia's Recent Experience

World Bank Policy Research Working Paper No. 2008
Number of pages: 63 Posted: 20 Apr 2016
Pedro Alba, Amar Bhattacharya, Stijn Claessens, Swati Ghosh and Leonardo Hernandez
World Bank, World Bank, Bank for International Settlements (BIS), World Bank and Central Bank of Chile
Downloads 367 (158,256)
Citation 2

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68.

Financial Development, Property Rights, and Growth

Downloads 360 (161,626)
Citation 243

Financial Development, Property Rights, and Growth

Number of pages: 47 Posted: 20 Apr 2016
Stijn Claessens and Luc Laeven
Bank for International Settlements (BIS) and European Central Bank (ECB)
Downloads 325 (179,187)
Citation 7

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Financial Development, Property Rights and Growth

Number of pages: 51 Posted: 02 May 2002
Stijn Claessens and Luc Laeven
Bank for International Settlements (BIS) and European Central Bank (ECB)
Downloads 35 (870,411)
Citation 24
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Economic growth, intangible assets, financial development, property rights

Financial Development, Property Rights, and Growth

Posted: 28 Feb 2004
Stijn Claessens and Luc Laeven
Bank for International Settlements (BIS) and European Central Bank (ECB)

Abstract:

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69.

Alternative Frameworks for Providing Financial Services Economic Analysis and Country Experiences

Number of pages: 53 Posted: 13 Sep 2001
Stijn Claessens and Daniela Klingebiel
Bank for International Settlements (BIS) and World Bank - Policy Unit
Downloads 344 (169,813)
Citation 3

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Financial services, public policy, competition, safety net

70.

Corporate Governance in Emerging Markets: A Selective Review and an Agenda for Future Research

Number of pages: 24 Posted: 09 Apr 2020
Melsa Ararat, Stijn Claessens and B. Burcin Yurtoglu
Sabanci University - Sabancı Business School, Corporate Governance Forum, Bank for International Settlements (BIS) and WHU - Otto Beisheim School of Management
Downloads 342 (170,865)
Citation 1

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Corporate Governance, Emerging Markets, Boards, Board Diversity

71.

Empirical Evidence on the New International Aid Architecture

Downloads 337 (173,599)
Citation 4

Empirical Evidence on the New International Aid Architecture

WEF Working Paper No. 0026
Number of pages: 61 Posted: 03 Jul 2007 Last Revised: 12 Nov 2007
Stijn Claessens, Danny Cassimon and Bjorn Van Campenhout
Bank for International Settlements (BIS), University of Antwerp - Institute for Development Policy and Management and University of Antwerp - Institute for Development Policy and Management
Downloads 223 (262,898)
Citation 11

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development aid, aid allocation, selectivity, debt relief, HIPC, PRSP, aid architecture

Empirical Evidence on the New International Aid Architecture

IMF Working Paper No. 07/277
Number of pages: 55 Posted: 21 Dec 2007
Stijn Claessens, Danny Cassimon and Bjorn Van Camperhout
Bank for International Settlements (BIS), University of Antwerp - Institute for Development Policy and Management and affiliation not provided to SSRN
Downloads 114 (466,214)

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Working Paper

72.

The Role of Foreign Banks in Trade

Bank of England Working Paper No. 656
Number of pages: 60 Posted: 10 Apr 2017
Stijn Claessens, Omar Hassib and Neeltje van Horen
Bank for International Settlements (BIS), Bank of England and Bank of England
Downloads 335 (174,715)
Citation 10

Abstract:

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Foreign banks, international trade, credit constraints, financial development

73.

Financial Cycles: What? How? When?

Downloads 324 (181,097)
Citation 36

Financial Cycles: What? How? When?

IMF Working Paper No. 11/76
Number of pages: 41 Posted: 13 Apr 2011
M. Ayhan Kose, Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
affiliation not provided to SSRN, Bank for International Settlements (BIS), World Bank and International Monetary Fund (IMF)
Downloads 317 (183,887)
Citation 8

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Business cycles, Capital markets, Credit, Demand, Developed countries, Housing prices, Stock prices

Financial Cycles: What? How? When?

CEPR Discussion Paper No. DP8379
Number of pages: 43 Posted: 19 May 2011
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements (BIS), World Bank and International Monetary Fund (IMF)
Downloads 7 (1,171,599)
Citation 18
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asset busts, credit booms, credit cycles, crunches, equity prices, house prices

74.

Systemic Risk in Global Banking: What Can Available Data Tell Us and What More Data are Needed?

BIS Working Paper No. 376
Number of pages: 26 Posted: 12 Apr 2012
Eugenio Cerutti, Stijn Claessens and Patrick McGuire
International Monetary Fund (IMF), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 321 (182,845)
Citation 5

Abstract:

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systemic risks, banking system, international, contagion, vulnerabilities

75.

Government Bonds in Domestic and Foreign Currency: The Role of Institutional Factors

Number of pages: 38 Posted: 06 Aug 2003
Stijn Claessens, Daniela Klingebiel and Sergio L. Schmukler
Bank for International Settlements (BIS), World Bank - Policy Unit and World Bank - Development Research Group (DECRG)
Downloads 308 (191,050)

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government debt, government bond markets, sovereign bonds, foreign currency debt, currency structure, institutions, exchange rate regime

76.

Finance and Hunger: Empirical Evidence of the Agricultural Productivity Channel

World Bank Policy Research Working Paper No. 4080
Number of pages: 48 Posted: 20 Apr 2016
Stijn Claessens and Erik Feyen
Bank for International Settlements (BIS) and World Bank - Finance & Markets Global Practice
Downloads 305 (192,983)
Citation 1

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Economic Theory & Research, Rural Poverty Reduction, Pro-Poor Growth and Inequality, Inequality

77.

Searching for Yield Abroad: Risk-Taking Through Foreign Investment in U.S. Bonds

Downloads 279 (211,704)
Citation 1

Searching for Yield Abroad: Risk-Taking Through Foreign Investment in U.S. Bonds

FRB International Finance Discussion Paper No. 1224
Number of pages: 52 Posted: 06 Jun 2018 Last Revised: 29 Apr 2020
John Ammer, Stijn Claessens, Alexandra Tabova and Caleb Wroblewski
Board of Governors of the Federal Reserve System, Bank for International Settlements (BIS), Board of Governors of the Federal Reserve System and University of Chicago - Booth School of Business
Downloads 184 (314,116)

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Low interest rates, Risk-taking, Search for yield, Portfolio choice, Corporate debt, Unites States

Searching for Yield Abroad: Risk-Taking Through Foreign Investment in U.S. Bonds

BIS Working Paper No. 687
Number of pages: 57 Posted: 25 Jan 2018
John Ammer, Stijn Claessens, Alexandra Tabova and Caleb Wroblewski
Board of Governors of the Federal Reserve System, Bank for International Settlements (BIS), Board of Governors of the Federal Reserve System and University of Chicago - Booth School of Business
Downloads 95 (531,822)

Abstract:

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low interest rates, search for yield, portfolio choice, corporate debt

78.

Politicians and Firms in Seven Central and Eastern European Countries

Number of pages: 31 Posted: 20 Apr 2016
Stijn Claessens and Simeon Djankov
Bank for International Settlements (BIS) and London School of Economics & Political Science (LSE)
Downloads 271 (218,155)
Citation 1

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79.

Additions to Market Indices and the Comovement of Stock Returns Around the World

Downloads 271 (218,155)
Citation 8

Additions to Market Indices and the Comovement of Stock Returns Around the World

IMF Working Paper No. 11/47
Number of pages: 35 Posted: 09 Mar 2011
Stijn Claessens and Yishay Yafeh
Bank for International Settlements (BIS) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 138 (401,662)

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Cross country analysis, Demand, International capital markets, Investment, Stock markets, Stock prices

Comovement of Newly Added Stocks with National Market Indices: Evidence from Around the World

Number of pages: 37 Posted: 05 May 2009 Last Revised: 28 Oct 2011
Stijn Claessens and Yishay Yafeh
Bank for International Settlements (BIS) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 130 (421,222)
Citation 1

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index inclusion, comovement

Additions to Market Indices and the Comovement of Stock Returns around the World

CEPR Discussion Paper No. DP7052
Number of pages: 30 Posted: 18 Dec 2008
Stijn Claessens and Yishay Yafeh
Bank for International Settlements (BIS) and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 3 (1,220,230)
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Beta, Comovement, Index inclusion

80.

Being a Foreigner among Domestic Banks: Asset or Liability?

Downloads 266 (222,204)
Citation 32

Being a Foreigner among Domestic Banks: Asset or Liability?

Number of pages: 24 Posted: 11 Feb 2009 Last Revised: 10 Oct 2011
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and Bank of England
Downloads 160 (355,537)
Citation 11

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foreign direct investment, international banking, performance, distance

Being a Foreigner Among Domestic Banks: Asset or Liability?

IMF Working Paper No. 09/273
Number of pages: 36 Posted: 05 Jan 2010
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and Bank of England
Downloads 106 (492,434)
Citation 8

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Bank soundness, Banking sector, Commercial banks, Cross country analysis, Foreign direct investment, International banking, Profit margins, Time series

81.

Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More than Fundamentals

Downloads 260 (227,341)
Citation 54

Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More than Fundamentals

ADBI Working Paper 528
Number of pages: 38 Posted: 07 Jun 2018
Eugenio Cerutti, Stijn Claessens and Damien Puy
International Monetary Fund (IMF), Bank for International Settlements (BIS) and International Monetary Fund (IMF)
Downloads 95 (531,822)
Citation 14

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capital flows, emerging markets, global banks, mutual funds, push factors

Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More than Fundamentals

Institute of Global Finance Working Paper Vol. 3, No. 1, Paper 1
Number of pages: 41 Posted: 23 Dec 2016
Eugenio Cerutti, Stijn Claessens and Damien Puy
International Monetary Fund (IMF), Bank for International Settlements (BIS) and International Monetary Fund (IMF)
Downloads 90 (551,151)
Citation 7

Abstract:

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Push factors, capital flows, emerging markets, mutual funds, global banks

Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More than Fundamentals

IMF Working Paper No. 15/127
Number of pages: 44 Posted: 21 Jul 2015
Eugenio Cerutti, Stijn Claessens and Damien Puy
International Monetary Fund (IMF), Bank for International Settlements (BIS) and International Monetary Fund (IMF)
Downloads 75 (616,104)

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Capital flows, Mutual funds, International banks, Emerging markets, Capital inflows, Cross country analysis, Sensitivity analysis, Push factors, global banks, portfolio, equity, bond, financial markets, monetary policy, monetary fund

82.

The Political Economy of Global Financial Governance: The Costs of Basle Ii for Poor Countries

World Economy & Finance Research Working Paper No. WEF 0015
Number of pages: 50 Posted: 14 Nov 2006
Stijn Claessens, Geoffrey R. D. Underhill and Xiaoke Zhang
Bank for International Settlements (BIS), University of Amsterdam - Amsterdam Institute for Social Science Research (AISSR) and University of Nottingham - School of Politics
Downloads 256 (230,862)
Citation 2

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Basle committee, capital adequacy, financial governance, financial architecture, financial reform, international standards, capital flows, poor countries, cost of capital, international development

83.

Global Liquidity and Drivers of Cross-Border Bank Flows

Downloads 247 (238,980)
Citation 37

Global Liquidity and Drivers of Cross-Border Bank Flows

Number of pages: 26 Posted: 10 May 2014 Last Revised: 10 Jun 2014
Eugenio Cerutti, Stijn Claessens, Lev Ratnovski and Lev Ratnovski
International Monetary Fund (IMF), Bank for International Settlements (BIS) and International Monetary FundEuropean Central Bank, Financial Research Division
Downloads 138 (401,662)
Citation 7

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Global Liquidity, International Banking, Capital Flows

Global Liquidity and Drivers of Cross-Border Bank Flows

IMF Working Paper No. 14/69
Number of pages: 34 Posted: 03 Jun 2014
Eugenio Cerutti, Stijn Claessens, Lev Ratnovski and Lev Ratnovski
International Monetary Fund (IMF), Bank for International Settlements (BIS) and International Monetary FundEuropean Central Bank, Financial Research Division
Downloads 109 (482,312)

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International banking, Banks, Liquidity, Capital flows, Bank regulations, Bank supervision, Cross country analysis, Global Liquidity, Capital Flows., bank claims, bank borrowers, bank risk, capital regulation, banking statistics, financial markets, bank capital, global financial crisis, banking system, bank risk-taking, bank capital regulation, bank risk taking, bank for international settlements, globalization, banking sector, banking capital, capital adequacy, banking systems, financial intermediation, banking regulation, global financial markets, global financial system, global financial stability, international financial markets, capital requirement, financial integration, bank balance s

Global Liquidity and Drivers of Cross-Border Bank Flows

CEPR Discussion Paper No. DP10314
Number of pages: 28 Posted: 23 Jan 2015
Eugenio Cerutti, Stijn Claessens, Lev Ratnovski and Lev Ratnovski
International Monetary Fund (IMF), Bank for International Settlements (BIS) and International Monetary FundEuropean Central Bank, Financial Research Division
Downloads 0
Citation 9
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Capital Flows, Global liquidity, International Banking

84.

Cryptocurrency Market Reactions to Regulatory News

Downloads 236 (249,940)
Citation 3

Cryptocurrency Market Reactions to Regulatory News

Globalization and Monetary Policy Institute Working Paper No. 381
Number of pages: 18 Posted: 29 Apr 2020
Raphael Auer and Stijn Claessens
Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 122 (442,684)

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Cryptocurrency Market Reactions to Regulatory News

CESifo Working Paper No. 8228
Number of pages: 19 Posted: 22 Apr 2020
Raphael Auer and Stijn Claessens
Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 112 (472,658)

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digital currencies, cryptocurrencies, bitcoin, ethereum, distributed ledger technology, regulation, financial markets, event studies

Cryptocurrency Market Reactions to Regulatory News

CEPR Discussion Paper No. DP14602
Number of pages: 19 Posted: 08 May 2020
Raphael Auer and Stijn Claessens
Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 2 (1,233,778)
Citation 4
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cryptocurrency, Digital Currencies, Event studies, regulation, valuations

85.

How Important is the Global Financial Cycle? Evidence from Capital Flows

Downloads 231 (255,224)
Citation 54

How Important is the Global Financial Cycle? Evidence from Capital Flows

BIS Working Paper No. 661
Number of pages: 63 Posted: 07 Sep 2017
Eugenio Cerutti, Stijn Claessens, Andrew Kenan Rose and Andrew Kenan Rose
International Monetary Fund (IMF), Bank for International Settlements (BIS) and NUS Business SchoolUniversity of California - Haas School of Business
Downloads 115 (463,191)
Citation 1

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empirical, data, centre, country, panel, fit, VIX, equity, bonds, FDI, credit

How Important is the Global Financial Cycle? Evidence from Capital Flows

IMF Working Paper No. 17/193
Number of pages: 68 Posted: 20 Feb 2018
Eugenio Cerutti, Stijn Claessens, Andrew Kenan Rose and Andrew Kenan Rose
International Monetary Fund (IMF), Bank for International Settlements (BIS) and NUS Business SchoolUniversity of California - Haas School of Business
Downloads 82 (584,283)

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Capital flows, Globalization, Monetary policy, Financial cycles, Panel analysis, Cross-country analysis, Capital market volatility, empirical; data; center; country; panel; fit; VIX; equity; bonds; FDI; credit, empirical, data, center, country, panel, fit, VIX, equity, bonds, FDI, credit, Financial Aspects of Economic Integration, Globalization: Finance

How Important is the Global Financial Cycle? Evidence from Capital Flows

NBER Working Paper No. w23699
Number of pages: 66 Posted: 06 Sep 2017 Last Revised: 03 Apr 2023
Eugenio Cerutti, Stijn Claessens, Andrew Kenan Rose and Andrew Kenan Rose
International Monetary Fund (IMF), Bank for International Settlements (BIS) and NUS Business SchoolUniversity of California - Haas School of Business
Downloads 34 (879,356)
Citation 26

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How Important is the Global Financial Cycle? Evidence from Capital Flows

CEPR Discussion Paper No. DP12075
Number of pages: 63 Posted: 05 Jun 2017
Eugenio Cerutti, Stijn Claessens, Andrew Kenan Rose and Andrew Kenan Rose
International Monetary Fund (IMF), Bank for International Settlements (BIS) and NUS Business SchoolUniversity of California - Haas School of Business
Downloads 0
Citation 16
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bonds, center, country, data, empirical, equity, FDI, fit, panel, VIX

86.

Competition in the Financial Sector: Overview of Competition Policies

Downloads 228 (258,526)

Competition in the Financial Sector: Overview of Competition Policies

IMF Working Paper No. 09/45
Number of pages: 37 Posted: 23 Mar 2009
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 228 (257,458)
Citation 3

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Working Papers

Competition in the Financial Sector: Overview of Competition Policies

The World Bank Research Observer, Vol. 24, Issue 1, pp. 83-118, 2009
Posted: 06 May 2009
Stijn Claessens
Bank for International Settlements (BIS)

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G10, G18, G28, L1, L5

87.

Financial Stability Governance and Central Bank Communications

Downloads 224 (262,797)

Financial Stability Governance and Central Bank Communications

International Journal of Central Banking, Forthcoming
Number of pages: 52 Posted: 21 Nov 2022
Juan M. Londono, Stijn Claessens and Ricardo Correa
Board of Governors of the Federal Reserve System, Bank for International Settlements (BIS) and Board of Governors of the Federal Reserve System
Downloads 135 (408,722)

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Financial Stability Governance, Natural Language Processing, Central Bank Communications

Financial Stability Governance and Central Bank Communications

International Finance Discussion Paper No. 1328
Number of pages: 57 Posted: 13 Sep 2021
Juan M. Londono, Stijn Claessens and Ricardo Correa
Board of Governors of the Federal Reserve System, Bank for International Settlements (BIS) and Board of Governors of the Federal Reserve System
Downloads 89 (555,053)

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Financial Stability Governance, Natural Language Processing, Central Bank Communications, financial cycles

88.

Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries

Number of pages: 48 Posted: 20 Apr 2016
Ravi Kanbur, Enrica Detragiache, Peter Wickham and Stijn Claessens
Cornell University, International Monetary Fund (IMF) - European Department, International Monetary Fund (IMF) and Bank for International Settlements (BIS)
Downloads 223 (263,929)

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89.

An Overview of Macroprudential Policy Tools

Downloads 221 (266,131)

An Overview of Macroprudential Policy Tools

IMF Working Paper No. 14/214
Number of pages: 39 Posted: 31 Dec 2014
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 221 (265,108)
Citation 21

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Macroprudential policies and financial stability, Monetary policy, Procyclicality of financial system, Financial intermediation, Other systemic risk tools, externalities, market failures, systemic risks, banks, credit, capital, financial institutions, markets, value, interest

An Overview of Macroprudential Policy Tools

Annual Review of Financial Economics, Vol. 7, pp. 397-422, 2015
Posted: 11 Dec 2015
Stijn Claessens
Bank for International Settlements (BIS)

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90.

Alternative Frameworks for Providing Financial Services

Number of pages: 55 Posted: 20 Apr 2016
Daniela Klingebiel and Stijn Claessens
World Bank - Policy Unit and Bank for International Settlements (BIS)
Downloads 218 (269,505)

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91.

Did the Euro Crisis Affect Non-Financial Firm Stock Prices Through a Financial or Trade Channel?

IMF Working Paper No. 11/227
Number of pages: 41 Posted: 08 Oct 2011
Stijn Claessens, Hui Tong and Igor Zuccardi
Bank for International Settlements (BIS), International Monetary Fund (IMF) and affiliation not provided to SSRN
Downloads 200 (291,917)
Citation 2

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Capital markets, Corporate sector, Euro Area, Europe, Financial crisis, Sovereign debt, Spillovers, Stock prices, Trade

92.

'If You Don't Know Me by Now ...' Banks’ Private Information and Relationship Length

Swiss Finance Institute Research Paper No. 23-01
Number of pages: 48 Posted: 13 Jan 2023 Last Revised: 17 May 2024
Stijn Claessens, Steven Ongena and Teng Wang
Bank for International Settlements (BIS), University of Zurich - Department Finance and Board of Governors of the Federal Reserve System
Downloads 199 (293,208)

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93.

Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data are Needed?

Downloads 196 (297,275)
Citation 10

Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data are Needed?

IMF Working Paper No. 11/222
Number of pages: 27 Posted: 28 Sep 2011
Eugenio Cerutti, Stijn Claessens and Patrick McGuire
International Monetary Fund (IMF), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 171 (335,649)

Abstract:

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Bank credit, Banking systems, Credit risk, Data collection, Financial risk, International banking, International financial system

Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data are Needed?

NBER Working Paper No. w18531
Number of pages: 27 Posted: 11 Nov 2012 Last Revised: 19 Feb 2023
Eugenio Cerutti, Stijn Claessens and Patrick McGuire
International Monetary Fund (IMF), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 25 (964,913)

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94.

Stakeholder Corporate Governance: The Combined Effects of Bank Competition and Employment Protection

Number of pages: 36 Posted: 02 Jun 2014
Stijn Claessens and Kenichi Ueda
Bank for International Settlements (BIS) and University of Tokyo - Faculty of Economics
Downloads 194 (300,130)

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financial liberalization, employment protection, stakeholder corporate governance

95.

Financial Frictions, Investment, and Institutions

Downloads 187 (310,149)

Financial Frictions, Investment, and Institutions

IMF Working Paper No. 10/231
Number of pages: 46 Posted: 01 Feb 2011
Stijn Claessens, Kenichi Ueda and Yishay Yafeh
Bank for International Settlements (BIS), University of Tokyo - Faculty of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 184 (314,116)

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Business cycles, Corporate governance, Corporate sector, Development, Economic growth, Economic models, Investment

Financial Frictions, Investment, and Institutions

CEPR Discussion Paper No. DP8170
Number of pages: 47 Posted: 18 Jan 2011
Stijn Claessens, Kenichi Ueda and Yishay Yafeh
Bank for International Settlements (BIS), University of Tokyo - Faculty of Economics and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 3 (1,220,230)
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corporate governance, creditor rights, Financial friction, institutions, investment

96.

Impact of Financial Regulations: Insights from an Online Repository of Studies

BIS Quarterly Review, March 2019
Number of pages: 16 Posted: 07 Mar 2019
Frédéric Boissay, Carlos Cantú, Stijn Claessens and Alan Villegas
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Representative Office for the Americas, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 185 (313,141)
Citation 11

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97.

Taking Stock of Risk Management Techniques for Sovereigns

Number of pages: 35 Posted: 30 Apr 2005
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 180 (320,992)

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98.

Whatever it Takes. What's the Impact of a Major Nonconventional Monetary Policy Intervention?

BIS Working Paper No. 749
Number of pages: 34 Posted: 30 Oct 2018
Carlos Alcaraz, Stijn Claessens, Gabriel Cuadra, David Marques-Ibanez and Horacio Sapriza
Independent, Bank for International Settlements (BIS), Banco de México, European Central Bank (ECB) and Board of Governors of the Federal Reserve System
Downloads 177 (325,842)
Citation 3

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unconventional monetary policy, credit conditions, spillovers

99.

The Use and Effectiveness of Macroprudential Policies

BIS Paper No. 86n
Number of pages: 8 Posted: 05 Oct 2016
Eugenio Cerutti, Stijn Claessens and Luc Laeven
International Monetary Fund (IMF), Bank for International Settlements (BIS) and European Central Bank (ECB)
Downloads 174 (330,887)

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100.

Capital Flows to Central and Eastern Europe and the Former Soviet Union

Number of pages: 47 Posted: 20 Apr 2016
Stijn Claessens
Bank for International Settlements (BIS)
Downloads 174 (330,887)

Abstract:

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101.

How Do Business and Financial Cycles Interact?

IMF Working Paper No. 11/88
Number of pages: 55 Posted: 26 Apr 2011
M. Ayhan Kose, Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
affiliation not provided to SSRN, Bank for International Settlements (BIS), World Bank and International Monetary Fund (IMF)
Downloads 165 (346,440)
Citation 30

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Business cycles, Economic models, Economic recession, Economic recovery, Financial sector, Fiscal policy, Monetary policy

102.

Financial Restructuring in Banking and Corporate Sector Crises: What Policies to Pursue?

NBER Working Paper No. w8386
Number of pages: 38 Posted: 21 Jul 2001 Last Revised: 02 Dec 2022
Stijn Claessens, Daniela Klingebiel and Luc Laeven
Bank for International Settlements (BIS), World Bank - Policy Unit and European Central Bank (ECB)
Downloads 149 (377,156)
Citation 1

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103.

The Use and Effectiveness of Macroprudential Policies: New Evidence

IMF Working Paper No. 15/61
Number of pages: 44 Posted: 14 Apr 2015
Eugenio Cerutti, Stijn Claessens and Luc Laeven
International Monetary Fund (IMF), Bank for International Settlements (BIS) and European Central Bank (ECB)
Downloads 145 (385,426)
Citation 85

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Macroprudential Policy, Emerging markets, Developed countries, Procyclicality of financial system, Cross country analysis, Time series, Macroprudential policies, Effectiveness, Financial cycles, credit growth, monetary fund, borrower, instruments, exchange, capital flow

104.

How Do Credit Ratings Affect Bank Lending Under Capital Constraints?

BIS Working Paper No. 747
Number of pages: 34 Posted: 30 Oct 2018
Stijn Claessens, Andy Law and Teng Wang
Bank for International Settlements (BIS), Harvard University, Harvard Law School and Board of Governors of the Federal Reserve System
Downloads 137 (405,319)
Citation 1

Abstract:

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ratings, bank capital, regulation, loan conditions

105.

Assessing Firms'Financing Constraints in Brazil

World Bank Policy Research Working Paper No. 6624
Number of pages: 31 Posted: 20 Apr 2016
Stijn Claessens and Yaye Seynabou Sakho
Bank for International Settlements (BIS) and World Bank
Downloads 132 (414,990)

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Access to Finance, Banks & Banking Reform, Debt Markets, Bankruptcy and Resolution of Financial Distress, Economic Theory & Research

106.

Policy Selectivity Foregone: Debt and Donor Behavior in Africa

Number of pages: 25 Posted: 28 Apr 2003
Nancy Birdsall, Stijn Claessens and Ishac Diwan
Center for Global Development, Bank for International Settlements (BIS) and World Bank - Ethiopia Office
Downloads 127 (427,384)
Citation 12

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debt relief, foreign aid, low-income countries, international organizations

107.

Synthesis Report - The Third International Conference on Corporate Governance in Emerging Markets

Number of pages: 16 Posted: 25 Apr 2012
Melsa Ararat, Stijn Claessens and B. Burcin Yurtoglu
Sabanci University - Sabancı Business School, Corporate Governance Forum, Bank for International Settlements (BIS) and WHU - Otto Beisheim School of Management
Downloads 122 (440,846)
Citation 1

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corporate governance, emerging markets

108.

The Impact of the Global Financial Crisis on Banking Globalization

Downloads 115 (460,851)
Citation 32

The Impact of the Global Financial Crisis on Banking Globalization

De Nederlandsche Bank Working Paper No. 459
Number of pages: 55 Posted: 12 Feb 2015
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and Bank of England
Downloads 113 (469,423)
Citation 32

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foreign banks, financial globalization, global financial crisis, cross-border banking, financial fragmentation

The Impact of the Global Financial Crisis on Banking Globalization

CEPR Discussion Paper No. DP10194
Number of pages: 54 Posted: 14 Oct 2014
Stijn Claessens and Neeltje van Horen
Bank for International Settlements (BIS) and Bank of England
Downloads 2 (1,233,778)
Citation 5
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cross-border banking, financial fragmentation, financial globalization, foreign banks, global financial crisis