Beckmann, Joscha; Czudaj, Robert; Osowski, Thomas - In: Credit and Capital Markets – Kredit und Kapital 54 (2021) 3, pp. 423-446
This paper analyzes cross border credit from a new perspective: We assess globally aggregated foreign-denominated credit to non-bank borrowers (provided by the BIS) and analyze which factors drive debt denominated in yen, euro and US dollar between 2003 and 2020. The determinants we analyze...