Determinants of Foreign Currency Borrowing in the New Member States of the EU:
Saved in:
Bibliographic Details
Main Author: Rosenberg, Christoph B. (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 2008
Series:IMF Working Papers Working Paper No. 08/173
Links:http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
http://elibrary.imf.org/view/IMF001/09444-9781451870312/09444-9781451870312/09444-9781451870312.xml
Abstract:The paper investigates the determinants of foreign currency borrowing by the private sector in the new member states of the European Union. We find that striking differences in patterns of foreign currency borrowing between countries are explained by the loan-to-deposit ratios, openness, and the interest rate differential. Joining the EU appears to have played an important role, by providing direct access to foreign funding, offering hedging opportunities through greater openness, lending credibility to exchange rate regimes, and raising expectations of imminent euro adoption. The empirical evidence suggests that regulatory policies to slow foreign currency borrowing have had only limited success
Physical Description:1 Online-Ressource (24 p)
ISBN:1451870310
9781451870312