Publication:
The Boom in Corporate Borrowing after the Global Financial Crisis: Different Tales from East Asia and Latin America

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dc.contributor.authorAbraham, Facundo
dc.contributor.authorCortina, Juan J.
dc.contributor.authorSchmukler, Sergio L.
dc.date.accessioned2021-02-25T22:18:16Z
dc.date.available2021-02-25T22:18:16Z
dc.date.issued2021-02-18
dc.description.abstractFirms from emerging economies increased their bond financing significantly after the 2008-09 global financial crisis. The patterns of corporate borrowing in East Asia and Latin America offer very different lessons. In East Asia, the main component behind the overall growth in bond financing was an expansion in domestic bond issuances, in domestic currency, by more and smaller firms. This expansion seems to be explained by a higher supply of funds by domestic investors, which lowered issuance costs. In Latin America, relatively larger firms tended to borrow from international markets issuing foreign currency bonds. These contrasting patterns have resulted in exposures to different types of risks. Risks in East Asia have been more related to the increasing debt accumulation by smaller firms, issuing debt at shorter maturities. Latin American firms have been more exposed to external factors and currency depreciations.en
dc.identifierhttp://documents.worldbank.org/curated/en/622691613576693850/The-Boom-in-Corporate-Borrowing-after-the-Global-Financial-Crisis-Different-Tales-from-East-Asia-and-Latin-America
dc.identifier.doi10.1596/35193
dc.identifier.urihttps://hdl.handle.net/10986/35193
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesResearch and Policy Brief;No. 42
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectCORPORATE BORROWING
dc.subjectGLOBAL FINANCIAL CRISIS
dc.subjectBOND MARKET
dc.titleThe Boom in Corporate Borrowing after the Global Financial Crisisen
dc.title.subtitleDifferent Tales from East Asia and Latin Americaen
dc.typeBriefen
dc.typeFichefr
dc.typeResumenes
dspace.entity.typePublication
okr.date.disclosure2021-02-17
okr.date.doiregistration2025-04-29T09:51:46.232578Z
okr.doctypePublications & Research
okr.doctypePublications & Research::Brief
okr.docurlhttp://documents.worldbank.org/curated/en/622691613576693850/The-Boom-in-Corporate-Borrowing-after-the-Global-Financial-Crisis-Different-Tales-from-East-Asia-and-Latin-America
okr.guid622691613576693850
okr.identifier.externaldocumentum090224b0882dab67_1_0
okr.identifier.internaldocumentum32840525
okr.identifier.report156768
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/622691613576693850/pdf/The-Boom-in-Corporate-Borrowing-after-the-Global-Financial-Crisis-Different-Tales-from-East-Asia-and-Latin-America.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.administrativeLatin America & Caribbean
okr.region.geographicalEast Asia
okr.region.geographicalLatin America
okr.topicFinance and Financial Sector Development::Capital Markets and Capital Flows
okr.unitDECRG: Macroeconomics & Growth (DECMG)
relation.isAuthorOfPublicationad1ad457-a974-53de-815c-c7010e0fdd74
relation.isAuthorOfPublication.latestForDiscoveryad1ad457-a974-53de-815c-c7010e0fdd74
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