Marí del Cristo, María LorenaGómez-Puig, Marta2017-05-262018-04-302017-040210-0266https://hdl.handle.net/2445/111615This paper presents empirical evidence on the interrelationship that exists between the evolution of the Emerging Markets Bonds Index (EMBI) and some macroeconomic variables in seven Latin American countries; two of them (Ecuador and Panama), full dollarized. We make use of a Cointegrated Vector framework to analyze the short run effects from 2001 to 2009. The results suggest that EMBI is more stable in dollarized countries and that its evolution influences economic activity in non-dollarized economies; suggesting that investors' confidence might be higher in dollarized countries where real and financial economic evolution are less vulnerable to external shocks than in non-dollarized ones.17 p.application/pdfengcc-by-nc-nd (c) Asociación Cuadernos de Economía, 2017http://creativecommons.org/licenses/by-nc-nd/3.0/esFinances internacionalsDòlar nord-americàMercat financerAmèrica LlatinaMàrqueting de relacionsInternational financeAmerican dollarFinancial marketLatin AmericaRelationship marketinginfo:eu-repo/semantics/article6656782017-05-26info:eu-repo/semantics/openAccess