Determinants of Foreign Currency Borrowing in the New Member States of the EU / / Christoph Rosenberg, Marcel Tirpák
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| Autore: |
Rosenberg Christoph
|
| Titolo: |
Determinants of Foreign Currency Borrowing in the New Member States of the EU / / Christoph Rosenberg, Marcel Tirpák
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2008 |
| Descrizione fisica: | 1 online resource (26 p.) |
| Disciplina: | 332.15 |
| Soggetto topico: | Loans, Foreign - Europe, Central - Econometric models |
| Loans, Foreign - Europe, Eastern - Econometric models | |
| Exports and Imports | |
| Foreign Exchange | |
| Money and Monetary Policy | |
| Monetary Systems | |
| Standards | |
| Regimes | |
| Government and the Monetary System | |
| Payment Systems | |
| International Lending and Debt Problems | |
| Monetary economics | |
| Currency | |
| Foreign exchange | |
| International economics | |
| Currencies | |
| Exchange rates | |
| External debt | |
| Dollarization | |
| Money | |
| Debts, External | |
| Monetary policy | |
| Soggetto geografico: | Czech Republic |
| Altri autori: |
TirpákMarcel
|
| Note generali: | Description based upon print version of record. |
| Nota di bibliografia: | Includes bibliographical references. |
| Nota di contenuto: | Contents; 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 |
| Sommario/riassunto: | 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. |
| Titolo autorizzato: | Determinants of Foreign Currency Borrowing in the New Member States of the EU |
| ISBN: | 1-4623-7093-4 |
| 1-4527-1275-1 | |
| 9786612841248 | |
| 1-282-84124-6 | |
| 1-4518-7031-0 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910788233103321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2008/173