- International finance
- Banking and financial institutions
- Financial regulation
- Corporate finance
M. Goetz and Gozzi, J.C. “Liquidity Shocks, Local Banks, and Economic Activity: Evidence from the 2007-2009 Crisis.”
M. Goetz. and Gozzi J.C. “Financial Integration and The Co-Movement of Economic Activity: Evidence from U.S. States.”
Publications in Academic Journals
Gozzi, J.C., Levine, R., Martinez Peria, M.S., and Schmukler, S., 2015. “How Firms Use Corporate Bond Markets under Financial Globalization,” Journal of Banking & Finance 58, pp. 532-551.
Gozzi, J.C., Levine, R., and Schmukler, S., 2010. “Patterns of International Capital Raisings,” Journal of International Economics 8:1, pp. 45-57.
Gozzi, J.C., Levine, R., and Schmukler, S., 2008. “Internationalization and the Evolution of Corporate Valuation,” Journal of Financial Economics 88:3, pp. 607-632.
de la Torre, A., Gozzi, J.C., and Schmukler, S., 2007. “Stock Market Development under Globalization: Whither the Gains from Reforms?” Journal of Banking & Finance 31:6, pp. 1731-1754.
de la Torre, A., Gozzi, J.C., and Schmukler, S., 2007. “Financial Development: Emerging and Maturing Policy Issues,” World Bank Research Observer 22:1, pp. 67-102.
Innovative Experiences in Access to Finance: Market Friendly Roles for the Visible Hand?
(with Agusto de la Torre and Sergio Schmukler)
Access to financial services contributes to economic growth and poverty alleviation, by allowing firms and households to finance high-return investment projects, manage risks, and weather unexpected shocks. Improving access to finance for firms and individuals remains a key challenge in many developing countries. The state’s role in fostering access to finance among firms and households has been a source of debate for decades. This book describes some innovative public-private partnerships in Brazil, Chile, and Mexico that illustrate the important role that the state can play in overcoming coordination failures, first-mover disincentives, and obstacles to risk-sharing. These experiences are consistent with an emerging view that recognizes a limited role for the state in financial markets, but contends that there might be room for well-designed, restricted interventions in collaboration with the private sector to foster financial development and broaden access. The book provides a systematic analysis of these experiences, including an analytical framework to understand problems access to finance and a discussion of the design of state interventions in financial markets.
Book Chapters and Other Publications
Gozzi, J.C. and Schmukler, S., 2015. "Public Credit Guarantees and Access to Finance," European Banks, Regulation, and the Real Sector 2, pp. 101-117. Lead article.
de la Torre, A., Gozzi, J.C., and Schmukler, S., 2008. “Capital Market Development : Whither Latin America?” in Strengthening Global Financial Markets, M. Garcia and S. Edwards eds., National Bureau of Economic Research and University of Chicago Press, pp. 121-153.
de la Torre, A., Gozzi, J.C., and Schmukler, S., 2007. "Financial Development in Latina America: Big Emerging Issues, Limited Policy Answers," in Visiones del Desarrollo en America Latina, J.L. Machine and N. Serra eds., UN-Economic Commission for Latin America and the Caribbean (ECLAC) and Foundation CIDOB, pp. 433-490. Working Paper Version: World Bank Policy Research Working Paper 3969.