Series: IMF Working Papers
Author(s): Delong Li , Nicolas Magud , and Fabian Valencia
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 30 December 2015
Keywords: financial frictions, real options, uncertainty shocks, interest, interest rates, markets, cash flows, General, All Countries,
We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes in global interest rates and volatility. We test for the presence of (i) a financing channel o...