Original sin (economics)

For other uses, see Original Sin (disambiguation).

Original sin is a term in economics literature, proposed by Barry Eichengreen, Ricardo Hausmann, and Ugo Panizza in a series of papers to refer to a situation in which "most countries are not able to borrow abroad in their domestic currency."[1][2][3][4][5]

The name is a reference to the concept of original sin in Christianity.

  1. ^ Eichengreen, B., and Hausmann, R., (1999). "Exchange Rates and Financial Fragility", In New Challenges for Monetary Policy. Proceedings of a symposium sponsored by the Federal Reserve Bank of Kansas City.
  2. ^ Eichengreen, B., Hausmann, R., and Panizza, U., (2002). "Original Sin: The Pain, the Mystery and the Road to Redemption", paper presented at a conference on Currency and Maturity Matchmaking: Redeeming Debt from Original Sin, Inter-American Development Bank
  3. ^ Eichengreen, B.; Hausmann, R.; Panizza, U. (2007). "Currency Mismatches, Debt Intolerance and Original Sin: Why They Are Not the Same and Why it Matters". Capital Controls and Capital Flows in Emerging Economies: Policies, Practices and Consequences. University of Chicago Press. pp. 121–170. ISBN 978-0-226-18497-5.
  4. ^ Hausmann, R., and Panizza, U., (2002). `"The Mystery of Original Sin: The Case of the Missing Apple", Harvard University, Kennedy School of Government. Mimeographed .
  5. ^ Eichengreen, Barry; Hausmann, Ricardo; Panizza, Ugo (2023). "Yet it Endures: The Persistence of Original Sin". Open Economies Review. 34 (1): 1–42. doi:10.1007/s11079-022-09704-3. ISSN 1573-708X. PMC 9768781.