Bruno and Shin investigate EM firms’ dollar vulnerabilities
BIS paper highlights negative effects of US dollar strength on emerging market firms
Emerging market corporations tend to rack up dollar-denominated debts when the local currency is relatively strong, but then suffer the consequences when the local currency depreciates, Valentina Bruno and Hyun Song Shin find in new research.
The Bank for International Settlements (BIS) working paper presents the authors’ empirical study of the effects of dollar-denominated debts on non-financial firms in emerging markets, based on data from June 2014 to January 2016, a period of strengthening
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