Debt-Creating Capital Flows and their Macroeconomic Implications in Ukraine
This paper investigates the macroeconomic and financial stability risks associated with foreign borrowing by corporations and banks in emerging markets; it estimates the effects of debt-creating flows for the Ukrainian economy by applying a multiple-regression analysis; and assesses the foreign debt...
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| Format: | Article |
| Language: | English |
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Athens Institute for Education and Research
2015-04-01
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| Series: | Athens Journal of Business & Economics |
| Online Access: | http://www.athensjournals.gr/business/2015-1-2-4-Bogdan.pdf |
| Summary: | This paper investigates the macroeconomic and financial stability risks associated with foreign borrowing by corporations and banks in emerging markets; it estimates the effects of debt-creating flows for the Ukrainian economy by applying a multiple-regression analysis; and assesses the foreign debt position from the point of view of a ‘safe’ debt level. On the basis of estimates and conclusions thereby derived, the author proposes a spectrum of capital flow management measures that may smoothen the swings in capital flows and reduce the build-up of associated vulnerabilities. |
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| ISSN: | 2241-794X |