The Turning Tide: How Vulnerable are Asian Corporates? »
Journal Issue
Volume/Issue: 2019/93
Series: IMF Working Papers
Author(s): Bo Jiang , and Tahsin Saadi Sedik
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 06 May 2019
DOI: http://dx.doi.org/10.5089/9781498311502.001
ISBN: 9781498311502
Keywords: Nominal effective exchange rate, Real effective exchange rates, Exchange rate policy, Real exchange rates, Exchange rate adjustments, Asian Emerging Markets, Corporate Debt, Corporate Distress, Global Finacnial Conditions, Exchange Rate Depreciation.
Using a new firm-level dataset with comprehensive information on Asian firms' FX liabilities, we show that Asia's nonfinancial corporate sector is vulnerable to a tightening of global financial conditions. Higher g...