Latin America's Access to International Capital Markets: Good Behavior or Global Liquidity?
---- Acknowledgements -----
This paper was written for the Tenth Annual Conference of the Central Bank of Chile: Current Account and External Financing, (Santiago, Chile), November 9-10, 2006. We thank Luis Catão, Juan Escrivá, Norman Loayza, Rodrigo Valdés, and participants at the Conference organized by the Central Bank of Chile for helpful comments. We also thank Pablo Vega-García for excellent research assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.