| dc.creator |
Lusinyan, Lusine |
|
| dc.creator |
Buch, Claudia M. |
|
| dc.date |
2000 |
|
| dc.date.accessioned |
2013-10-16T06:56:24Z |
|
| dc.date.available |
2013-10-16T06:56:24Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/17694 |
|
| dc.identifier |
ppn:318130149 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/17694 |
|
| dc.description |
One key focus of the on-going debate on the integration of international financial markets have been measures to lengthen the maturity of foreign debt. Short-term debt is typically considered to be volatile and thus a potential trigger of currency crises. In contrast to the vivid policy debate on these issues, there is relatively little theoretical and empirical evidence on the determinants of short-term debt. This paper summarizes the theoretical literature on the issue and presents a stylized theoretical model, which focuses on the risks and benefits of short-term debt under conditions of uncertainty. Empirical evidence shows that the level of economic development, the presence of financial centres, and the share of loans to banks have a positive impact on the share of short-term loans. OECD membership, in contrast, has a negative influence. |
|
| dc.language |
eng |
|
| dc.publisher |
Kiel Institute for the World Economy (IfW) Kiel |
|
| dc.relation |
Kieler Arbeitspapiere 994 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
F21 |
|
| dc.subject |
F23 |
|
| dc.subject |
G21 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
foreign debt maturity |
|
| dc.subject |
Auslandsverschuldung |
|
| dc.subject |
Laufzeit |
|
| dc.subject |
Geldmarktpapier |
|
| dc.subject |
Internationale Kapitalmobilität |
|
| dc.subject |
Kreditrisiko |
|
| dc.subject |
Liquide Mittel |
|
| dc.subject |
Schätzung |
|
| dc.subject |
Sozialprodukt |
|
| dc.subject |
Finanzplatz |
|
| dc.subject |
Eigenkapitalvorschriften |
|
| dc.subject |
Theorie |
|
| dc.subject |
Welt |
|
| dc.title |
Determinants of Short-Term Debt |
|
| dc.type |
doc-type:workingPaper |
|