NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Volatility in International Financial Market Issuance: The Role of the Financial Center

Marco Cipriani, Graciela L. Kaminsky

NBER Working Paper No. 12587
Issued in October 2006

---- Acknowledgements -----

This paper was in part written while Cipriani was visiting the European Institute in Florence and Kaminsky was a visiting scholar at the Hong Kong Monetary Authority. We thank both institutions for their hospitality. We thank the Center for the Study of Globalization at George Washington University for financial support. We also thank Pablo Vega-Garcia for excellent research assistance. The views expressed here are those of the authors and not necessarily those of the Hong Kong Monetary Authority or the National Bureau of Economic Research.

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