About Juan J. CortinaJuan Jose Cortina is a Research Analyst in the Macroeconomics and Growth Team of the Development Research Group, World Bank.
There is much discussion about the rapid expansion of capital market issuances by emerging market firms in international markets. This expansion has been driven by deepening financial globalization, which started in the 1990s, and, more recently, by low interest rates in advanced economies after the 2008–2009 global financial crisis.
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