.... It presents empirical analysis demonstrating that this “original sin” problem has statistically significant and economically important implications, even after controlling for other conventional determinants of macroeconomic outcomes. The chapter shows that the macroeconomic policies on which growth...

...This chapter examines the impact of the financial policies of industrial countries on the financial crises in emerging market economies. It analyzes the macroeconomic policies of the Group of Seven (G7) countries and the role of the G7 and the International Monetary Fund (IMF) in the management...