1. An examination of US dollar risk management by Canadian non-financial firms Alex Faseruk & Dev R.

Mishra  The paper finds that it is important for Canadian firms that have exports denominated in US dollars to hedge their exposure. The full value of hedging is reaped by using both operational and financial hedges. 2. Corporate risk management and exchange rate volatility in Latin America. Graciela Moguillansky  This article studies the currency risk management of multinational companies with investments in Latin American countries. The analysis is centred on episodes of currency or financial shocks, searching into the behaviour of the financial management of a firm expecting a significant devaluation. 3. Corporate Choice for Overseas Borrowings:The Indian Evidence Bhupal Singh.  This paper examines The policy framework on foreign commercial borrowings has been effective in achieving a balanced maturity profile as also in channelising funds to productive sectors. It is observed that foreign borrowings by the corporates and import of capital goods display a close positive relationship. 4. The Global Financial Crisis: Explaining Cross-Country Differences in the Output Impact. Pelin Berkmen, Gaston Gelos, Robert Rennhack, and James P. Walsh  The results of this paper show that a relatively small set of variables can explain much of the difference in countries prospects after the financial crisis intensified in September 2008. A simple specification of leverage, cumulative growth in credit, and controlling for exchangerate pegs alone explains more than half the variation in the growth revisions, an explanatory power which no other policy variable we analyzed was able to match. 5. Multinational corporations and crisis transmission.ila Patnaik, Ajay Shah.  In the global crisis of 2008, one of the most important shocks was the rise in the cost of borrowing for firms. In this paper they saw If large shocks were experienced by financially constrained firms, these could result in a decline in fixed corporate investment. 6. Export Intensity and Financial Policies of Indian firms P.V. VISWANATH & ELENA GOLDMAN.  If product demand from abroad has a low correlation with domestic demand, we would expect export-intensive firms to have greater cashflow stability than firms that only sell domestically. This implies that they would also be able to support higher financial leverage. 7. Firm Dollar Debt and Central Bank Dollar Reserves: A Case of Moral Hazard?.... Rajeswari Sengupta.  In this paper, we explore the hypothesis that foreign exchange reserves accumulated by central banks of emerging market economies may cause moral hazard among non

financial sector firms, encouraging them to increase the share of dollar debt in their balance sheets.

8. The effects of fiscal policy on output and debt sustainability in the euro area: a dsge analysis Davide Furceri & Annabelle Mourougane.  This paper examines the effects of fiscal policy on output and debt sustainability in the euro area. For this purpose we develop a DSGE Fiscal Model with endogenous government bond rates to assess the impact of different fiscal policy shocks on output, its components and on government debt. 9. A new global database of de facto exchange rate regimes Ila Patnaik, Ajay Shah & Anmol Sethy.  We measure exchange rate exibility, identify weights of the currencies that a country pegs against, and estimate dates of structural breaks in the exchange rate regime. These breaks may be caused by a change in volatility, or a change in the weights of the basket. 10. The Impact of Capital Inflows on Asset Prices in Emerging Asian Economies: Is Too Much Money Chasing Too Little Good? Soyoung Kim.  In recent years, emerging Asian economies have experienced (i) large capital inflows, especially a surge in portfolio inflows, and (ii) an appreciation of asset prices such as stock price, land price, and nominal and real exchange rates. 11. What makes home bias abate? The evolution of foreign ownership of Indian firms. Ajay Shah & Ila Patnaik.  A simple decomposition of changes in the value of foreign shareholding suggests a negative contribution owing to changes in insider shareholding (which actually went up), with the bulk of the change being contributed by the rise in Indian market capitalisation and the rise in foreign ownership as a fraction of outside shareholding. 12. International Financial Integration through Equity Markets: Which Firms from Which Countries Go Global? Stijn Claessens and Sergio L. Schmukler.  This paper studies international financial integration analyzing firms from various countries raising capital, trading equity, and/or cross-listing in major world stock markets. 13. Explaining exchange rate movements: an application of the market microstructure approach on the pakistani foreign exchange market Abdul Jalil & Mete Feridun  This present article aims at explaining the exchange rate movements in the Pakistani foreign exchange market using the market micro structure approach, which has not been applied to date due to the unavailability of high-frequency data on the order flow for Pakistan. 14. INDIA CORPORATE DEBT-Shrinking spreads to keep investors away Jeanette Rodrigues

 Few Indian firms are planning to float bond issues this week, as shrinking spreads keep large investors away from the corporate debt market while foreign investors are buying short-term paper, bankers said. 15. The exchange rate regime and the currency composition of corporate debt: the Mexican experience.. Lorenza Martnez and Alejandro Werner  This paper analyzes the effect that the change from a fixed to a floating exchange rate regime that took place in Mexico in December 1994 had on the currency composition of corporate debt. In particular, the paper asks whether a fixed exchange rate regime biases corporate borrowing towards foreign currency due to an implicit exchange rate guarantee given by the government. 16. Exchange rate regime and capital flows: the indian experience NARENDRA JADHAV.  In thin and underdeveloped foreign exchange markets of the EMEs, movement in capital flows have often tended to cause excessive exchange rate pressures. In fact, the magnitude and gyrations of capital flows have become the primary determinant of exchange rate movements on a day-to-day basis for most EMEs rather than trade deficits and economic growth as in the past.