User:Nick Gardner /Sandbox: Difference between revisions
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Original sin In the context of the financial problems experienced by developing countries and emerging economies, this refers to the difficulty they face in borrowing abroad in their own currencies. Since this difficulty is experienced even by countries that have behaved well, it is dubbed "original sin" as being beyond their control. | Original sin In the context of the financial problems experienced by developing countries and emerging economies, this refers to the difficulty they face in borrowing abroad in their own currencies. Since this difficulty is experienced even by countries that have behaved well, it is dubbed "original sin" as being beyond their control. | ||
the inability of a country to borrow abroad in its own currency | |||
Revision as of 17:06, 4 March 2010
Original sin In the context of the financial problems experienced by developing countries and emerging economies, this refers to the difficulty they face in borrowing abroad in their own currencies. Since this difficulty is experienced even by countries that have behaved well, it is dubbed "original sin" as being beyond their control.
the inability of a country to borrow abroad in its own currency