Non-financial corporates (NFCs) in the ASEAN+3 region have benefited from greater bond issuances post the Global Financial Crisis but this also potentially exposes them to higher risks. 

Based on both aggregate and firm level information, this study examines the changing NFC financing structure, assess potential rollover, interest rate and currency mismatch risks from rising NFC bonds in foreign currencies, and suggest strategies for policy makers to mitigate those risks.


Related Publications

Facilitating Foreign Exchange Risk Management for Bond Investments in ASEAN+3 (Asian Development Bank)

Non-financial corporations from emerging market economies and capital flows (Bank for International Settlements)

Corporate Financing Trends and Balance Sheet Risks in Latin America: Taking Stock of ‘The Bon(d)anza’ (International Monetary Fund)

Global Liquidity and External Bond Issuance in Emerging Markets and Developing Economies (World Bank Group)