01969cas a2200253 a 4500 AALejournalIMF016750 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484321546 1018-5941 BD-DhAAL BD-DhAAL Caceres, Carlos. Understanding Corporate Vulnerabilities in Latin America / Carlos Caceres, Fabiano Rodrigues-Bastos. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the potential risks and vulnerabilities of non-financial corporates in Latin America and Canada. We quantify the impact of company-specific, countryspecific, and global factors in driving corporate spreads. Overall, we found that all these factors play a role in explaining corporate risk. In particular, country specific factors such as exchange rate and sovereign CDS spreads are significantly associated with changes in corporate spreads, underscoring the importance of solid policy frameworks. We also find that global conditions, such as the VIX, are dominant drivers of corporate spreads. In recent years, the adverse effects from deteriorating domestic conditions have been broadly offset by relatively bening global financial conditions. However, a sustained reversal in these conditions would put significant pressure on corporate risk. Mode of access: Internet Rodrigues-Bastos, Fabiano. IMF Working Papers; Working Paper ; No. 2016/080 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/080/001.2016.issue-080-en.xml IMF e-Library