Foreign currency borrowing, balance sheet shocks and real outcomes

Foreign currency borrowing, balance sheet shocks and real outcomes

Foreign currency borrowing, balance sheet shocks and real outcomes

BIS Working Papers | No 758 | 22 November 2018by Bryan HardyPDF full text (1,331kb) | 99 pagesSummaryFocusA negative shock to a firm's balance sheet can impair the firm's borrowing and investment. Especially in emerging market economies, firms are vulnerable to such shocks through a currency depreciation when they borrow in foreign currency.

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