Correspondent banks allow local banks in emerging markets to access the international payments system. This helps local banks to make cross-border payments, clear currencies, and provide trade finance. The…
Building up sufficient capital for old-age provision often is a challenge for private households. For homeowners, one way to generate old-age income from illiquid housing wealth is the use of equity release…
This paper investigates the importance of correspondent banking for trade and firm performance in emerging Europe. We exploit the unexpected "structural break" in the U.S. regulator’s enforcement of financial…
