Why Do Emerging Economies Borrow in Foreign Currency?

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 credibility can induce firms to dollarize their... READ MORE...

Publication date: September 2003
ISBN 9781451858891
$15.00

Add to Cart by clicking price of the language and format you'd like to purchase

Available Languages and Formats

Paperback

Publication date: September 2003

PDF

Publication date: September 2003

ePub

Publication date: September 2003

Mobi

Publication date: September 2003

English