Debt composition and balance sheet effects of currency depreciation: a summary of the micro evidence

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What drives credit dollarization in transition economies (2008, result): “Our results support the micro empirical evidence of firm currency-matching behavior (e.g., Martinez and Werner, 2002; Gelos, 2003; Galindo et al., 2003).”
Banking, Trade, and the Making of a Dominant Currency* (2020, background): “As a matter of empirical reality, the existing evidence suggests that a significant amount of the exchange rate risk is borne by the nonfinancial corporate sector in emerging markets (Galindo, Panizza, and Schiantarelli 2003; Du and Schreger 2014).”
Corporate debt, firm size and financial fragility in emerging markets (2019, background): “…literature include but are not limited to Alfaro and Kancuzk, (2013), Alfaro et al. (2017), Bruno and Shin (2015b), Claessens et al. (2015), Eichengreen and Tong (2015), Du and Schreger (2016), Galindo et al. (2003), Niepmann and SchmidtEisenlohr (2017), Druck et al. (2017), Avdjiev et al. (2018).”