-2003, attempting to understand motives for issuing in foreign currency, and determinants for the choice of currency. We consider the … following influences on the currency choice when issuing foreign currency denominated debt: the microeconomic characteristics of … addition to cost minimisation, hedging motives and the desire to establish an investor base influences the choice of currency …

In this paper we investigate the impact of the euro integration process on the drivers of FDI inflows. We show … theoretically and empirically that the single currency alters the drivers of FDI inflows across its Member States. Estimating … bilateral gravity models of FDI inflows into euro area countries, we show that the euro facilitates intra-euro area vertical FDI …

economy. The measure of a currency's global role is based on the size and stage of development of the underlying economy, as … currency. The paper applies the concept to 22 currencies of advanced and emerging economies. The results confirm the well …-known ranking for the leading currencies - in particular the US dollar and the euro - but give considerably greater weight to …

the euro area has declined. Second, the euro is used as a vehicle currency in parts of Africa, and some European countries … have seen significant shifts toward euro invoicing. And third, as suggested by the dominant currency paradigm, countries … stability of invoicing currency patterns. But the evidence also points to several novel stylised facts. First, both the US …

euro becoming a second globally dominant currency in trade. … importer's currency has important implications for the transmission of shocks. We introduce this "dominant currency pricing … a non-US economy that alters the value of its currency multilaterally, expenditure-switching occurs only through imports …

half of global trade is invoiced in other currencies. Of particular interest are the euro, with a large role, and the … 115 countries over 1999-2019. We find that standard mechanisms that foster use of a large economy's currency predicted by … dollar and the euro for trade with the United States and the euro area. These mechanisms also support the role of the dollar …

This paper provides insights into the determinants of currency choice in cross-border bank lending, such as bilateral … distance, financial and trade linkages to issuer countries of major currencies, and invoicing currency patterns. Cross …-border bank lending in US dollars, and particularly in euro, is highly concentrated in a small number of countries. The UK is …

We analyze, for the first time, how firms choose the currency in which they price transactions in international trade …. Drawing on a new granular dataset on extra-European Union exports of Portuguese firms broken down by currency, we show that … currency choices in services trade are active firm-level decisions. Firms that are larger and rely more on inputs priced in …