Abstract:The matter of the 'original sin', the inability to borrow abroad in domestic currency, came to the centre of the academic discussion after the dramatic episodes in Asia, Russia and Latin America. According to this international framework, this paper is an empirical analysis of 'original sin' for six Latin American countries based on the index (OSIN3) developed by Haussmann and Panizza (2003). This paper finds that the situation for some countries have been improving reflecting a reduction of the index. This fa… Show more
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