Publications

“Fear of Floating: Survey Data Evidence”, Economics of Transition, forthcoming. 

“Financial Development Convergence” (with Berrak Bahadir), Journal of Banking and Finance, forthcoming. 

“Safety in Numbers: Bailouts and the Decision to Join the EMU” (with Menna Bizuneh) Comparative Economic Studies, forthcoming.

“Inflation Uncertainty and the Decision to Devalue” (with Menna Bizuneh) Review of International Economics, forthcoming.

“Serial Financial Crises and Capital Investment” (with Felix Rioja and Fernando Rios), Emerging Markets Finance and Trade, forthcoming.

“The Persistent Effect of Banking Crises on Investment and the Role of Financial Markets” (with Felix Rioja and Fernando Rios), Journal of Financial Economic Policy, forthcoming.

“Stock markets, banks and the sources of economic growth in low and high income countries,” (with Felix Rioja) Journal of Economics and Finance: Volume 38, Issue 2 (2014), Page 302-320.  

“Credit Information Sharing and Banking Crises: An Empirical Investigation” (with Berrak Buyukkarabacak), Journal of Macroeconomics, September 2012, 34(3), 788–800.

“Who Gets the Credit? And Does it Matter: Household and Firm Credit across Countries,” (with Thorsten Beck, Berrak Buyukkarabacak and Felix Rioja), The B.E. Journal of Macroeconomics, 2012, 12(1), 1-46.

“Financial Structure and Capital Investment,” (with Felix Rioja) Applied Economics, 2011, 1466-4283.

“The Effect of Loss Experiences in a Banking Crisis on Future Expectations and Behavior,” (with Shannon Mudd and Konstantin Pashev), The B.E. Journal of Macroeconomics, 2010, 10(1). 

“The Provision of Long-Term Financing in the Transition Countries,” (with Nikola Tasic), Journal of Comparative Economics, 2010, 38(2), 160-172. 

“Credit Expansions and Banking Crises: The role of household and enterprise credit,” (with Berrak Buyukkarabacak), Journal of Banking and Finance, 2010, 34(6), 1247-1256.

“The Political Economy of Exchange Rate Regimes in the Transition Countries,” (with David Leblang and Jeff Frieden), Review of International Organizations, 2010, 5(1), 1-25.

“The Hysteresis of Currency Substitution: Currency Risk vs. Network Externalities,” Journal of International Money and Finance, 2010, 29(2), 224-235.

“Gender and Public Attitudes toward Corruption and Tax Evasion” (with Benno Torgler), Contemporary Economic Policy, 2010, 28(4), 554-568.  

“Benefits from Mutual Restraint in a Multirateral Monetary Union,” (with Steven Buigut) World Development, 2009, 37(3), 585-594.

“Fixed Exchange Rate Credibility with Heterogeneous Expectations,” (with John Carlson) Journal of Macroeconomics, 2008, 30(4), 1712–1722.

“Beliefs about Exchange Rate Stability: Survey Evidence from the Currency Board in Bulgaria,” (with John Carlson) Journal of Economic Policy Reform, 2007, 10(2), 111-121.

“Eastern and Southern Africa Monetary Integration: A Structural Vector Autoregression Analysis,” (with Steven Buigut) Review of Development Economics, November 2006, 10(4), 586-603.

“Economic Uncertainty and the Maturity of International Credit,” Journal of International Financial Markets, Institutions & Money, October 2007, 17(4), 372-386. 

“Age and Corruption,” (with Benno Torgler) Journal of Bioeconomics, 2006, 8(2), 133-145.

“Institutional Uncertainty and the Maturity of International Loans by U.S. Banks,” Journal of International Money and Finance, August 2006, 25(5), 780-794.

“From a Currency Board to the Euro: Public Attitudes toward Unilateral Euroization in Bulgaria,” Comparative Economic Studies, 2006, 48, 480-496.

“Is the East Africa Community an Optimal Currency Area? A Structural Vector Autoregression Analysis,” (with Steven Buigut) World Development, December 2005, 33(12), 2119-33. 

“Finance and the Sources of Growth at Various Stages of Economic Development,” (with Felix Rioja) Economic Inquiry, January 2004, 42(1), 27-40.

“Does One Size Fit All?: A Reexamination of the Finance and Growth Relationship,” (with Felix Rioja) Journal of Development Economics, August 2004, 74(2), 429-47.

“Incentive Targeting, Influence Peddling, and Foreign Direct Investment,” (with Kelly Edmiston and Shannon Mudd) International Tax and Public Finance, September 2004, 11(5), 647-660.

“No Pain, Non Gain: Market Reform, Unemployment and Politics in Bulgaria,” Journal of Comparative Economics, September 2004, 32(3), 409-425.

“Sources of Dispersion in Economic Forecasts,” (with John Carlson) Applied Economics Letters, February 2003, 10(2), 77-81.

“Tax Structures and FDI: The Deterrent Effects of Complexity and Uncertainty,” (with Kelly Edmiston and Shannon Mudd) Fiscal Studies, September 2003, 24(3), 341-59. 

“A Disinflation Tradeoff: Speed versus Final Destination,” (with John Carlson) Economic Inquiry, July 2002, 40(3), 450-56.

“IMF Conditionality and Objections: The Russian Case,” (with Jorge Martinez-Vasquez, Felix Rioja and Samuel Skogstad) American Journal of Economics and Sociology, April 2001, 60(2), 501-517. 

“Credibility of a New Monetary Regime: The Currency Board in Bulgaria,” (with John Carlson) Journal of Monetary Economics, June 2001, 47(3), 581-94.

“International Lending by U.S. Banks,” (with John Barron) Journal of Money, Credit and Banking, August 2000, 32(3), 357-81. 



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