| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7952 |
| DP7952 Foreign Currency Loans - Demand or Supply Driven? | |
| Steven Ongena; Martin Brown; Karolin Kirschenmann | |
| 发表日期 | 2010-08-01 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Motivated by concerns over foreign currency exposures of banks in Emerging Europe, we examine the currency denomination of business loans made in Bulgaria during the period 2003-2007. We analyze a unique dataset including information on the requested and granted currency for more than hundred thousand loans granted by one bank to sixty thousand different firms. This data set allows us to disentangle demand-side from supply-side determinants of foreign currency loans. We find that 32% of the foreign currency loans disbursed in our sample were actually requested in local currency by the firm. Our analysis suggests that the bank lends in foreign currency, not only to less risky firms, but also when the firm requests a long-term loan and when the bank itself has more funding in euro. These results imply that foreign currency borrowing in Eastern Europe is not only driven by borrowers who try to benefit from lower interest rates but also by banks hesitant to lend long-term in local currency and eager to match the currency structure of their assets and liabilities. |
| 主题 | Financial Economics |
| 关键词 | Banking Foreign currency debt |
| URL | https://cepr.org/publications/dp7952 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536787 |
| 推荐引用方式 GB/T 7714 | Steven Ongena,Martin Brown,Karolin Kirschenmann. DP7952 Foreign Currency Loans - Demand or Supply Driven?. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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