Stijn Claessens is Assistant Director in the Research Department of the International Monetary Fund where he heads the Macro-Financial Unit. Prior to joining the Fund, he worked at the World Bank (1987-2001) and taught at the University of Amsterdam (2001-2004). His policy and research interests include firm finance and corporate governance; risk management; globalization; and business and financial cycles. His research has been published in many journals and he has edited several books. Over his career, he has provided policy advice to many countries.