Corporate sector currency mismatch in Hungary

Marianna Endresz, Gyozo Gyongyosi and Péter Harasztosi

MNB Bulletin (discontinued), 2013, vol. 8, issue 2, 12-20

Abstract: Our analysis of micro data shows that the size of unhedged foreign currency lending has become significant not just in the household sector, but in the corporate sector as well. The weight of foreign currency debtors without net foreign currency income was significant prior to the crisis. During the crisis - as a result of the exchange rate depreciation - the performance of foreign currency debtors was worse in relative terms. There was a greater increase in their probability of default and a stronger fall in their investment, while their access to the loan market also deteriorated more.

Keywords: currency mismatch; liability dollarisation; firm level data. (search for similar items in EconPapers)
JEL-codes: F31 F34 G32 L25 (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.mnb.hu/letoltes/endresz-gyongyosi-harasztosi.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mnb:bullet:v:8:y:2013:i:2:p:12-20

Access Statistics for this article

More articles in MNB Bulletin (discontinued) from Magyar Nemzeti Bank (Central Bank of Hungary) Contact information at EDIRC.
Bibliographic data for series maintained by Maja Bajcsy ( this e-mail address is bad, please contact ).