LEADER 03014nam 2200637 450 001 9910463622903321 005 20170817212625.0 010 $a1-4623-7093-4 010 $a1-4527-1275-1 010 $a9786612841248 010 $a1-282-84124-6 010 $a1-4518-7031-0 035 $a(CKB)3170000000055079 035 $a(EBL)1607962 035 $a(SSID)ssj0000944012 035 $a(PQKBManifestationID)11518469 035 $a(PQKBTitleCode)TC0000944012 035 $a(PQKBWorkID)10982914 035 $a(PQKB)11438416 035 $a(OCoLC)761994404 035 $a(MiAaPQ)EBC1607962 035 $a(EXLCZ)993170000000055079 100 $a20140227h20082008 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDeterminants of foreign currency borrowing in the new member states of the EU /$fChristoph B. Rosenberg and Marcel Tirpa?k ; authorized for distribution by Christoph B. Rosenberg 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (26 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/173 300 $aDescription based upon print version of record. 311 $a1-4519-1484-9 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Stylized Facts; III. Reasons for Foreign Currency Borrowing-Some Hypotheses; IV. Empirical Estimation; A. Model Structure and Data; B. Estimation Results; V. Conclusions; VI. References; APPENDIX I. Data Sources and Transformations; APPENDIX II. Model Specification and Robustness Tests 330 $aThe paper investigates the determinants of foreign currency borrowing by the private sector in the new member states of the European Union. We find that striking differences in patterns of foreign currency borrowing between countries are explained by the loan-to-deposit ratios, openness, and the interest rate differential. Joining the EU appears to have played an important role, by providing direct access to foreign funding, offering hedging opportunities through greater openness, lending credibility to exchange rate regimes, and raising expectations of imminent euro adoption. The empirical ev 410 0$aIMF Working Papers 606 $aLoans, Foreign$zEurope, Central$xEconometric models 606 $aLoans, Foreign$zEurope, Eastern$xEconometric models 608 $aElectronic books. 615 0$aLoans, Foreign$xEconometric models. 615 0$aLoans, Foreign$xEconometric models. 676 $a332.15 700 $aRosenberg$b Christoph B$0869962 701 $aTirpa?k$b Marcel$0869963 701 $aRosenberg$b Christoph B$0869962 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463622903321 996 $aDeterminants of foreign currency borrowing in the new member states of the EU$91942262 997 $aUNINA