The Political Economy of Argentina's Debacle
AbstractIn this paper I argue that political economy considerations and, in particular, the identity of the reformers, are central to understanding the Argentine crisis that culminated in sovereign default in January 2002. During the 1990s, the main political parties remained attached to populism, and no strong party emerged at the center of the political spectrum. This had two effects in the reform process. First, it severely deteriorated it (efficiency, corruption), reducing the support of the population. Second, when a series of shocks hit the economy the anti-reform camp tried to undo most reforms, and thus convey a message to the population about the “right” model of the world.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Journal of Economic Policy Reform.
Volume (Year): 7 (2004)
Issue (Month): 1 ()
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Find related papers by JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
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"Fear Of Floating,"
The Quarterly Journal of Economics,
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43, Universidad de San Andres, Departamento de Economia, revised Mar 2002.
- Juliana Bambaci & Tamara Saront & Mariano Tommasi, 2002. "The Political Economy of Economic Reforms in Argentina," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 5(2), pages 75-88.
- Juan Jose Cruces & Marcos Buscaglia & Joaquin Alonso, 2002. "The Term Structure of Country Risk and Valuation in Emerging Markets," Working Papers 46, Universidad de San Andres, Departamento de Economia, revised Apr 2002.
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