Economic Research Forum (ERF)

Mauricio Larrain

Author

Mauricio Larrain
Assistant Professor of Finance, Catholic University of Chile

Content by this Author

Equity capital inflows, corporate finance and growth in emerging economies

Studies of the relationship between foreign investor participation in public equity markets and aggregate economic activity in emerging economies find strong effects on productivity, investment, economic growth and the price of publicly traded stocks – but it is not clear why. This VoxEU column shows that equity capital inflows increase the supply of funding available to firms in emerging economies, encouraging them to obtain more equity financing to invest and expand. Large firms benefit most from the inflows.

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Formidable challenges facing the Middle East require a sea change in economic policies

Weakening global growth, endemic conflicts and increased tensions within the Middle East and North Africa (MENA) – as well as emerging challenges such as climate change and rapid demographic shifts – are likely to have an adverse impact on the region’s economic, social and political stability in the coming years. This column outlines the policy responses that are needed to avert disaster.

Lebanon’s 2019 austerity measures: enough to restore confidence?

Lebanon has entered the danger zone of high public indebtedness. As this column explains, this could seriously compromise the credibility and sustainability of the fixed exchange rate regime and may spark renewed inflationary pressures. Proposed austerity measures are unlikely to be enough to restore confidence in the country’s economy.

How to liberate Algeria’s economy

Algeria’s economy is growing far too slowly to provide enough jobs for a young, expanding and increasingly restless population. As this Project Syndicate column explains, the country's authorities need to boost competition, spur the creation of a digital economy and revamp state-owned enterprises.

The impact of hosting refugees on the labour market

What are the labour market effects of a massive influx of people on members of the host community? This column examines the experience of Jordan resulting from the conflict in neighbouring Syria. Evidence shows that Jordanians living in areas with high concentrations of Syrian refugees had no worse labour market outcomes than Jordanians with less exposure to the influx.