Aysun, Uluc; Guldi, Melanie - In: Emerging Markets Finance and Trade 47 (2011) 6, pp. 46-67
Using firm-level data, we show that higher derivatives market participation by emerging market firms contributed to the observed decline in the exchange rate exposure of these firms from 1995 to 2005. Our methodology follows a three-stage approach. First, we measure and report exchange rate...
