Since the Great Recession cross-border financial assets have grown nearly 60%. Cross-border portfolios and market-based finance have grown tremendously during this time. This trend has been compounded by market opaqueness, with limited information on the portfolios of non-bank financial institutions and individual investors potentially hiding significant risk in the global financial system. In this Policy Research Talk on March 22, 2022, World Bank economist Alvaro Pedraza shed light on these pressing issues with comprehensive data on the Colombian Stock Exchange.
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