Since the global financial crisis, banks and bond investors have increased the outstanding
US dollar credit to non-bank borrowers outside the United States from 6trillionto 9 trillion …

We profile the US dollar debt incurred by borrowers in a dozen prominent emerging market
economies (EMEs). These countries account for the bulk of total US dollar debt owed by …

After the global financial crisis, the G20 supported efforts to improve global capital flow and
investment statistics, with the goal of better understanding cross-border financial linkages …

This paper analyses the impact of policy initiatives co-ordinated by Asian national
governments on firms' composition of external finance. Using a unique firm-level database of …

Firms from emerging economies have significantly increased the amount of bond financing,
particularly after the Global Financial Crisis and when compared to other financing …

Emerging market economies in Asia find themselves caught in a puzzling situation. How can
a region with such abundant savings be facing a shortage of infrastructure financing …

Emerging Asia has seen a transformation of its monetary policy environment over the past
two decades. By far, the most relevant change has been the maturing of its financial systems …

We study the relationship between cross-border flows and risks to macroeconomic stability
for a sample of ten major emerging market economies (EMEs) from 2000 to 2017 in the …

This paper investigates the impact of CDS trading on the development of the bond market in
Asia. In general, CDS trading has lowered the cost of issuing bonds and enhanced the …

An unintended consequence of loose US monetary policy is the increase in currency risk
exposure abroad. Using firm-level data on corporate bond issuances in 16 emerging market …