---
title: A Model of Global Firms and Capital Markets
url: https://www.ml-quant.com/papers/repec/nbr-nberwo-35652/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-10-09
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:nbr:nberwo:35652
source_url: https://econpapers.repec.org/RePEc:nbr:nberwo:35652
featured: 2026-10-09
citations: unknown
topic: Asset Pricing & Factors
---


# A Model of Global Firms and Capital Markets

A quantified general-equilibrium model of 23,000 firms across 48 countries shows financial and trade liberalization concentrate activity in largest firms with larger gains for emerging economies.

- Source: https://econpapers.repec.org/RePEc:nbr:nberwo:35652
- Identifier: RePEc:nbr:nberwo:35652
- Released: 2026-09-26
- First featured: Quant Letter No. 134 (2026-10-09): https://www.ml-quant.com/issues/2026-10-09/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Asset Pricing & Factors
- Authors: Loukas Karabarbounis, Bruno Pellegrino, Juliana Salomao

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