Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/129880
Authors: 
Vonnák, Dzsamila
Year of Publication: 
2015
Series/Report no.: 
IEHAS Discussion Papers MT-DP - 2015/28
Abstract: 
I decompose the factors contributing to the riskiness of foreign currency borrowers. I compare counterfactual default probabilities of local and foreign currency borrowers estimated on disaggregated data. My results suggest that the currency mismatch with the depreciation of the local currency is the most important factor contributing to the riskiness of foreign currency borrowers, though boom-period excessive risk taking of banks is also concentrated in foreign currency lending.
Subjects: 
foreign currency debt
banking
JEL: 
G21
F31
F34
ISBN: 
978-615-5447-90-7
Document Type: 
Working Paper

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