Performance of Publicly Listed Chilean Firms During the 2008-2009 Global Financial Crisis

Author/Editor:

Yi Wu

Publication Date:

October 31, 2012

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper examines publicly listed Chilean firms’ performance during the 2008–09 crisis. In particular, it studies the effects from changes in external financing conditions, aggregate demand, and international trade on firms’ investment, sales, and profits, using firm-specific characteristics measured prior to the crisis. The evidence suggests that the crisis had a larger negative impact on firms with greater reliance on external financing, and firms with higher sensitivity to aggregate demand and exports. Firms with more foreign currency debt also had larger declines in sales, although their investment or profits did not differ significantly from other firms. 

Series:

Working Paper No. 2012/261

Subject:

Demand elasticity Economic theory Exports External debt Foreign currency debt Government liabilities International trade Public financial management (PFM)

English

Publication Date:

October 31, 2012

ISBN/ISSN:

9781475550573/1018-5941

Stock No:

WPIEA2012261

Pages:

17

Please address any questions about this title to publications@imf.org