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Corporate distress in East Asia : the effect of currency and interest rate shocks (Английский)

This note reports the results of a study that quantified the effect of currency and interest rate shocks in East Asia on the liquidity and solvency of nonfinancial corporations in the region. In a survey of the five countries most affected by the East Asian financial crisis - Indonesia, the Republic of Korea, Malaysia, the Philippines, and Thailand - the study found that 63 percent of firms are illiquid (with earnings less than their debt service)...
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