Google Scholar Citations

Refereed Publications

Does Education Mitigate the Effect of Population Aging on Health Expenditure?: A panel data study of Latin American Countries (with Florencia Borrescio-Higa), Journal of Population Aging and Health, 2021.

Improving Access to Banking: Evidence from Kenya (with Franklin Allen, Elena Carletti, Robert Cull, Jun Qian and Lemma Senbet), Review of Finance, 2021.

Business Advisory Services and Female Employment in a Gender Imbalanced Labor Participation Market (with Sofia Johan), British Journal of Management, 2020.

Capital Controls and the Cost of Debt (with Eugenia Andreasen and Martin Schindler), IMF Economic Review, 2019.

The Inequality-Credit Nexus (with Diego Huerta and Ronald Fischer), Journal of International Money and Finance, 2019.


Does Finance alter the Relation between Inequality and Growth (with Matias Braun and Francisco Parro), Economic Inquiry, 2019.


Gone with the Wind: Demographic Transitions and Domestic Saving (with Eduardo Cavallo and Gabriel Sanchez), Review of Development Economics, 2018.


Rollover Risk and Credit Spreads: Evidence from International Corporate Bonds, Review of Finance, 2016.


Financial Openness, Domestic Financial Development and Credit Ratings (with Eugenia Andreasen), Finance Research Letters, 2016.


The African Financial Development and Financial Inclusion Gaps (with Franklin Allen, Elena Carletti, Robert Cull, Jun Qian and Lemma Senbet), Journal of African Economies, 2014.


Sovereign Ceilings Lite? The Impact of Sovereign Ratings on Corporate Ratings in Emerging Market Economies (with Kevin Cowan and Eduardo Borensztein), Journal of Banking and Finance, 2013.


Financial Openness, Market Structure and Private Credit: An Empirical Investigation (with Ronald Fischer), Economics Letters,  2013.


Who Benefits From Capital Account Liberalization? Evidence From Firm-Level Credit Ratings Data (with Alessandro Prati and Martin Schindler), Journal of International Money and Finance, 2012.


The Determinants of Corporate Risk in Emerging Markets: An Option-Adjusted Spread Analysis (with Eduardo Cavallo), International Journal of Finance and Economics, 2010.


Debt Sustainability under Catastrophic Risk: The Case for Government Budget Insurance (with Eduardo Borensztein and Eduardo Cavallo), Risk Management and Insurance Review, 2009.


Working Papers and Work in Progress

Financial Inclusion and Microfinance in Latin America (with Alejandro Micco) in the Handbook of Microfinance, Financial Inclusion and Development edited by Robert Cull and Valentina Hartarska, Edward Elgar Publishing.

Gender Inequality and Mental Health during the COVID-19 Pandemic (with Florencia Borrescio-Higa).

Sovereign Credit Risk, Financial Fragility, and Global Factors (with Anusha Chari, Felipe Garcés and Juan Francisco Martínez). Submitted.

The Effects of Political Integration on Capital Flows (with Marcela Valenzuela).


Public versus Private Firms: How Different are they During Crises? (with Elena Carletti and Yaniv Grinstein).

Investment Opportunities and Corporate Credit Risk (with Eugenia Andreasen), CEA Working Paper 335, 2018.

Longevity, Human Capital and Domestic Investment (with Francisco Parro and Francisco Szederkenyi), CEA Working Paper 331, 2017, Submitted.


Development Diagnostics for the Southern Cone (with Eduardo Borensztein, Sebastián Miller and Gabriel Sánchez), IDB Working Paper 516, 2014.


Becoming an Entrepreneur (with Hugo Ñopo), IDB Working Paper 605, 2007.