benefits of large depreciations. Investment specifications indicate that increases in leverage resulting from sharp …

, vertical linkages with foreign firms, and international trade on several types of innovation by domestic firms. Using … and innovation and show that the supply chain of multinational enterprises and international trade are also important … channels. There is no evidence for an inverted U relationship between innovation and foreign competition. The relationship …

This paper documents a set of new stylized facts about leverage and financial fragility for emerging market firms … in the “vulnerable” range of Altman's Z-score, and average leverage for the entire emerging market sample is higher in … the post-GFC period than during the AFC. Regression estimates suggest that the relationship between leverage, exchange …

The post-Global Financial Crisis period shows a surge in corporate leverage in emerging markets and a number of … relationship between leverage, firm fragility and exchange rate movements in emerging markets. While the relationship between firm-leverage …