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Firms, currency hedging, and financial derivatives

In: Handbook of Financial Integration

Author

Listed:
  • Laura Alfaro
  • Mauricio Calani
  • Liliana Varela

Abstract

The use of foreign currency is prevalent in international markets. Firms in international trade and capital markets must decide how to cope with foreign currency risk associated with buying inputs and selling output abroad, how to define its financing, and how optimally allocate international assets. This chapter overviews the emerging literature exploiting new granular data sets and analyzing the use of FX derivatives and currency risk management, which are both shaped by the existence of financial frictions.

Suggested Citation

  • Laura Alfaro & Mauricio Calani & Liliana Varela, 2024. "Firms, currency hedging, and financial derivatives," Chapters, in: Guglielmo M. Caporale (ed.), Handbook of Financial Integration, chapter 15, pages 340-370, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21716_15
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    File URL: https://www.elgaronline.com/doi/10.4337/9781803926377.00023
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    Keywords

    Economics and Finance;

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