A note on the new wave of foreign-currency debt for LAC non-financial firms

This paper presents new evidence on foreign-currency debt of non-financial compa-nies in six Latin-American countries, including years in the aftermath of the sub-pri-me crisis. The paper differentiates between total debt and financial debt in foreign currency. Main results indicate that some firm-s...

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Autores principales: García Cicco, Javier, Kawamura, Enrique
Formato: Artículo publishedVersion Text Texto
Lenguaje:Español
Publicado: FACULTAD DE CIENCIAS ECONÓMICAS - UNIVERSIDAD DE BUENOS AIRES 2019
Materias:
foreign-currency debt
firm-level characteristics
deuda en moneda extranjera
características de la empresa
Acceso en línea:https://ojs.economicas.uba.ar/REPBA/article/view/1572
https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=ecopol&d=1572_oai
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Repositorio Digital de la Universidad de Buenos Aires (UBA) de Universidad de Buenos Aires
id I28-R145-1572_oai
record_format dspace
spelling I28-R145-1572_oai2025-02-11 García Cicco, Javier Kawamura, Enrique 2019-06-01 This paper presents new evidence on foreign-currency debt of non-financial compa-nies in six Latin-American countries, including years in the aftermath of the sub-pri-me crisis. The paper differentiates between total debt and financial debt in foreign currency. Main results indicate that some firm-specific features are key to unders-tand foreign currency debt. Exporting firms behave differently between total fore-ign-currency debt and financial currency debt. Exporters hold more total foreign-currency debt than the average firm while they hold less financial foreign-currency debt. Foreign-owned firms hold less total debt in foreign currency. Macroeconomic variables only play some role when interacting with specific firm characteristics. Este artículo presenta nueva evidencia sobre determinantes de pasivos en moneda extranjera de empresas en seis países de Latinoamérica, incluyendo períodos posteiores a la crisis sub-prime, diferenciando entre pasivos totales y financieros en mo-neda extranjera. Los resultados principales indican que ciertas características espe-cíficas son claves para entender estas deudas. Firmas que exportan deciden diferen-temente entre pasivos totales y financieros en moneda extranjera, manteniendo más deuda total y menos deuda financiera en moneda extranjera que la firma promedio. Empresas de propiedad extranjera mantienen menos pasivos totales en moneda ex-tranjera. Las variables macroeconómicas sólo importan cuando se las interactúa con tipos de empresas.  application/pdf text/html https://ojs.economicas.uba.ar/REPBA/article/view/1572 spa FACULTAD DE CIENCIAS ECONÓMICAS - UNIVERSIDAD DE BUENOS AIRES https://ojs.economicas.uba.ar/REPBA/article/view/1572/2233 https://ojs.economicas.uba.ar/REPBA/article/view/1572/2238 Revista de Economía Política de Buenos Aires; Vol. 13 No. 18 (2019): Revista de Economía Política de Buenos Aires; 50-76 Revista de Economía Política de Buenos Aires; Vol. 13 Núm. 18 (2019): Revista de Economía Política de Buenos Aires; 50-76 1853-1350 1850-6933 urn:issn:1853-1350repba.v0i188 foreign-currency debt firm-level characteristics deuda en moneda extranjera características de la empresa A note on the new wave of foreign-currency debt for LAC non-financial firms Una nota sobre la nueva ola de deuda en moneda extranjera en las firmas no financieras de Latinoamérica info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Text Texto https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=ecopol&d=1572_oai
institution Universidad de Buenos Aires
institution_str I-28
repository_str R-145
collection Repositorio Digital de la Universidad de Buenos Aires (UBA)
language Español
orig_language_str_mv spa
topic foreign-currency debt
firm-level characteristics
deuda en moneda extranjera
características de la empresa
spellingShingle foreign-currency debt
firm-level characteristics
deuda en moneda extranjera
características de la empresa
García Cicco, Javier
Kawamura, Enrique
A note on the new wave of foreign-currency debt for LAC non-financial firms
topic_facet foreign-currency debt
firm-level characteristics
deuda en moneda extranjera
características de la empresa
description This paper presents new evidence on foreign-currency debt of non-financial compa-nies in six Latin-American countries, including years in the aftermath of the sub-pri-me crisis. The paper differentiates between total debt and financial debt in foreign currency. Main results indicate that some firm-specific features are key to unders-tand foreign currency debt. Exporting firms behave differently between total fore-ign-currency debt and financial currency debt. Exporters hold more total foreign-currency debt than the average firm while they hold less financial foreign-currency debt. Foreign-owned firms hold less total debt in foreign currency. Macroeconomic variables only play some role when interacting with specific firm characteristics.
format Artículo
publishedVersion
Text
Texto
author García Cicco, Javier
Kawamura, Enrique
author_facet García Cicco, Javier
Kawamura, Enrique
author_sort García Cicco, Javier
title A note on the new wave of foreign-currency debt for LAC non-financial firms
title_short A note on the new wave of foreign-currency debt for LAC non-financial firms
title_full A note on the new wave of foreign-currency debt for LAC non-financial firms
title_fullStr A note on the new wave of foreign-currency debt for LAC non-financial firms
title_full_unstemmed A note on the new wave of foreign-currency debt for LAC non-financial firms
title_sort note on the new wave of foreign-currency debt for lac non-financial firms
publisher FACULTAD DE CIENCIAS ECONÓMICAS - UNIVERSIDAD DE BUENOS AIRES
publishDate 2019
url https://ojs.economicas.uba.ar/REPBA/article/view/1572
https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=ecopol&d=1572_oai
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