Debt Maturity and the Use of Short-Term Debt: Evidence form Sovereigns and Firms

Sophia Chen (), Paola Ganum, Lucy Qian Liu (), Leonardo Martinez and Maria Martinez Peria

No 2019/001, IMF Departmental Papers / Policy Papers from International Monetary Fund

Abstract: The maturity structure of debt can have financial and real consequences. Short-term debt exposes borrowers to rollover risk (where the terms of financing are renegotiated to the detriment of the borrower) and is associated with financial crises. Moreover, debt maturity can have an impact on the ability of firms to undertake long-term productive investments and, as a result, affect economic activity. The aim of this paper is to examine the evolution and determinants of debt maturity and to characterize differences across countries.

Keywords: DPPP; DP; short-term debt; maturity; debt maturity; EMDEs; debt; use of short-term debt; average weighted maturity; maturity structure; currency tradeoff; government bond; short-term debt debt ratio; World Bank debt statistics; ratio in AEs; debt dilution problem; bond issuance; weighted average maturity; Syndicated loans; Currencies; Loans; Bonds; Global (search for similar items in EconPapers)
Pages: 77
Date: 2019-02-05
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