International dimensions of EME corporate debt

Stefan Avdjiev, Patrick McGuire and Goetz von Peter

BIS Quarterly Review, 2020

Abstract: International credit can be fickle and subject to sudden stops during periods of global economic stress. Non-financial corporate borrowers that rely on credit from abroad are vulnerable to reversals in capital flows. Similarly, corporates that borrow in foreign currency may face problems rolling over their debt when the local currency depreciates or global dollar funding conditions tighten. This feature draws on several BIS data sets to examine corporates' external and foreign currency debt for key emerging market economies on the eve of the Covid-19 outbreak.

JEL-codes: F34 F65 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (10)

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