Why Do Emerging Economies Borrow in Foreign Currency? /
This paper explores the hypothesis that the dollarization of liabilities in emerging market economies is the result of a lack of monetary credibility. I present a model in which firms choose the currency composition of their debts so as to minimize their probability of default. Decreasing monetary c...
| Tác giả chính: | |
|---|---|
| Định dạng: | Tạp chí |
| Ngôn ngữ: | English |
| Được phát hành: |
Washington, D.C. :
International Monetary Fund,
2003.
|
| Loạt: | IMF Working Papers; Working Paper ;
No. 2003/177 |
| Truy cập trực tuyến: | Full text available on IMF |