Capital flowed from emerging markets as pandemic, economic cycle took hold
Fluctuations in the global financial cycle, reflecting impacts from the COVID crisis, account for roughly one-third of the movement in emerging-market inflows during 2020–23.
March 07, 2023
Trade diversion has helped ease the impact of the embargo on Russian oil
Much has been made about the effect of Russia’s invasion of Ukraine on the price of oil. However, the price of oil was already drifting upward well before the invasion in late February 2022.
February 21, 2023
Southwest Economy, Third Quarter 2022
Maquiladoras, Mexico’s engine of trade, driven to navigate evolving demand
Mexico’s maquiladoras, an important generator of manufacturing and employment activity along the U.S.–Mexico border, confront a changing landscape. Evolving global trade patterns, reflecting stressed supply chains and increasing electric vehicle production, will test maquiladora agility and growth prospects.
October 03, 2022
Southwest Economy, Third Quarter 2022
Supply chains slowly mend as Texas firms view recovery in 2023
Since the
COVID-19 pandemic
began in early 2020,
disrupted global supply
chains have strained
Texas businesses trying
to meet strong demand.
October 03, 2022
Southwest Economy, Third Quarter 2022
Globalization remains a force despite pandemic, political strains
Pol Antràs, the Robert G. Ory Professor of Economics at Harvard University, discusses international trade flows and what the evidence suggests about the world economy and the accompanying debate about whether an era of deglobalization may be at hand.
October 03, 2022
Southwest Economy, Third Quarter 2022
Texas exports reach new record despite strong dollar
Texas remains the nation’s top exporter, setting records each month despite the recent appreciation of the dollar. A strong dollar can be bad for business because it makes U.S. goods more expensive overseas.
October 03, 2022
Research Department Working Papers
Uncertainty, Stock Prices and Debt Structure: Evidence from the U.S.-China Trade War
Using the recent U.S.-China trade war as a laboratory, this paper shows that policy uncertainty shocks have a significant impact on stock prices.
August 19, 2022
Firm debt structure can mitigate impact of uncertainty shock
We found evidence that the way a firm structures its debt can mitigate a significant amount of the negative effects from uncertainty shocks, especially for zombie firms.
August 09, 2022
Southwest Economy, Second Quarter 2022
Trade binds Central America, Mexico to U.S. despite past inequities
Raymond Robertson, director of the Mosbacher Institute for Trade, Economics and Public Policy at the Bush School of Government and Public Service at Texas A&M University, discusses the impact of free trade agreements on Mexico and Central America.
July 01, 2022
Russia counters sanctions’ impact with currency controls, averts crisis (for now)
The Russian central bank responded to unprecedented sanctions with strict capital controls that have stabilized the value of its currency—the ruble.
May 31, 2022