Good-Bye Original Sin, Hello Risk On-Off, Financial Fragility, and Crises?
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We analyze the sovereign bond issuance data of eight major emerging markets (EMs) - Brazil, China, India, Indonesia, Mexico, Russia, South Africa and Turkey from 1970 to 2018. Our analysis suggests that (i) EM local currency bonds tend to be smaller in size, shorter in maturity, or lower in coupon
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美国国家经济研究局创建时间:
2020-04-01



