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We establish that macroprudential policies limiting capital flows can curb risks arising from corporate foreign currency borrowing in emerging markets. Using detailed firm-level data from India, we show that propensity to issue foreign currency debt for the same firm is higher when the...
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We establish that macroprudential controls limiting capital flows can curb risks arising from foreign currency borrowing by corporates in emerging markets. Firm-level data show that Indian firms issue more foreign currency debt when the interest rate differential between India and the United...
Persistent link: https://www.econbiz.de/10013214511
We establish that macroprudential policies limiting capital flows can curb risks arising from corporate foreign currency borrowing in emerging markets. Using detailed firm-level data from India, we show that propensity to issue foreign currency debt for the same firm is higher when the...
Persistent link: https://www.econbiz.de/10014244292
Persistent link: https://www.econbiz.de/10009784180
associated with producer hedging demand rises when speculative activity reduces. We conclude that limits to financial arbitrage …Motivated by the literature on limits-to-arbitrage, we build an equilibrium model of commodity markets in which … speculators are capital constrained, and commodity producers have hedging demands for commodity futures. Increases (decreases) in …
Persistent link: https://www.econbiz.de/10012461784
associated with producer hedging demand rises when speculative activity reduces. We conclude that limits to financial arbitrage …Motivated by the literature on limits-to-arbitrage, we build an equilibrium model of commodity markets in which … speculators are capital constrained, and commodity producers have hedging demands for commodity futures. Increases (decreases) in …
Persistent link: https://www.econbiz.de/10013128612
associated with producer hedging demand rises when speculative activity reduces. We conclude that limits to financial arbitrage …Motivated by the literature on limits-to-arbitrage, we build an equilibrium model of commodity markets in which … speculators are capital constrained, and commodity producers have hedging demands for commodity futures. Increases (decreases) in …
Persistent link: https://www.econbiz.de/10013076382
associated with producer hedging demand rises when speculative activity reduces. We conclude that limits to financial arbitrage …Motivated by the literature on limits-to-arbitrage, we build an equilibrium model of commodity markets in which … speculators are capital constrained, and commodity producers have hedging demands for commodity futures. Increases (decreases) in …
Persistent link: https://www.econbiz.de/10013080025