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: | , |
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| Formato: | Artículo publishedVersion Text Texto |
| Lenguaje: | Español |
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FACULTAD DE CIENCIAS ECONÓMICAS - UNIVERSIDAD DE BUENOS AIRES
2019
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| Materias: | |
| 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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| Sumario: | 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. |
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