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The Harvard Center for International Development is home to faculty affiliates from each school at Harvard University, working across sectors in developing nations around the world.

Faculty research is published in a wide range of academic and policy venues and can be found through the feed and filters below. Select faculty research papers are highlighted in our Faculty Research Insights series on our blog, CID Voices.

CID working papers published by Harvard faculty, graduate students, and research fellows prior to 2024 can be found here. 

Showing results 1 - 10 of 54

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International Lending in War and Peace
Carmen Reinhart
We study international capital flows across 200 years. A major novelty is our analysis on official flows (government-to-government lending), which are routinely neglected in the…
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Sovereign Debt: 200 Years of Creditor Losses
Carmen Reinhart
We study sovereign external debt crises over the past 200 years, with a focus on creditor losses, or “haircuts”. Our sample covers 327 sovereign debt restructurings with external…
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The Social Costs of Sovereign Default
Carmen Reinhart
This paper investigates the economic and social consequences of sovereign default on external debt. We focus on the crises’ impact on real per capita GDP, infant mortality, life…
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Sovereign Debt: 200 years of creditor losses
Carmen Reinhart
Working Paper No. 32599
We study sovereign external debt crises with a focus on creditor losses, or "haircuts". Our sample covers 321 sovereign debt restructurings with external private creditors over…
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Decrypting new age international capital flows
Carmen Reinhart
Vol. 138, Pages 104-122
This paper employs high frequency transactions data on the world's two oldest and most extensive centralized peer-to-peer Bitcoin markets, enabling trade in the currencies of more…
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The Reversal Problem: Development Going Backwards
Carmen Reinhart
The Covid-19 pandemic triggered the most synchronous economic downturn in more than a century. Ninety percent of countries posted a decline in real per-capita GDP in 2020, a share…
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Debt Distress on China's Belt and Road
Carmen Reinhart
Vol. 113, Pages 131-34
This paper shows that China's lending boom to developing country sovereigns has largely ended and that debt distress and defaults are increasingly common. Chinese lenders react to…
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Exchange Rate Volatility and Monetary Policy
Carmen Reinhart
The global economy has witnessed great economic volatility in the first two decades of the 21st century. Yet over this period, and in particular during Covid-19, exchange rates…
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China as an International Lender of Last Resort
Carmen Reinhart
This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. It builds the first comprehensive dataset on China’s…
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China’s overseas lending and the war in Ukraine
Carmen Reinhart
Russia’s attack of Ukraine is causing staggering human suffering and destruction. The impacts on global commodity markets are being acutely felt, as oil and wheat prices have…