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Argentina’s Long History of (Economic) Uncertainty

Author

Listed:
  • Cecilia Rumi

    (Universidad Nacional de La Plata)

Abstract

Instability and uncertainty have been the hallmark of Argentina's political economy throughout its history. Volatility in GDP, inflation, the exchangethe terms of trade, and capital flows characterizes the burden that Argentines—ordinary citizens, investors, and policymakers—have had to endure forne can remember . The internal design of monetary, financial,l-market institutions has made possible a 13-zero depletion of the currency and several confiscations of bank deposits. Argentine fiscal institutions have long been partial to short-term, pro-cyclical planning. Self-centeredn the rule, with c omplete disregard for the huge costs created by uncertainty. Is there any way for Argentina to rid itself of this disastrous tendency and put itself on a path to sustainable growth and improved welfare?

Suggested Citation

  • Cecilia Rumi, 2017. "Argentina’s Long History of (Economic) Uncertainty," Ekonomi-tek - International Economics Journal, Turkish Economic Association, vol. 6(2), pages 13-24, May.
    • Handle: RePEc:tek:journl:v:6:y:2017:i:2:p:13-24
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    References listed on IDEAS

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    1. Acemoglu, Daron & Johnson, Simon & Robinson, James & Thaicharoen, Yunyong, 2003. "Institutional causes, macroeconomic symptoms: volatility, crises and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 49-123, January.
    2. Kyle Jurado & Sydney C. Ludvigson & Serena Ng, 2015. "Measuring Uncertainty," American Economic Review, American Economic Association, vol. 105(3), pages 1177-1216, March.
    3. Gerardo della Paolera & Alan M. Taylor, 2001. "Introduction to "Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability, 1880-1935"," NBER Chapters, in: Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability, 1880-1935, pages 3-36, National Bureau of Economic Research, Inc.
    4. repec:ucp:bknber:9780226645568 is not listed on IDEAS
    5. Gerardo della Paolera & Alan M. Taylor, 2001. "Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability, 1880-1935," NBER Books, National Bureau of Economic Research, Inc, number paol01-1, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Argentina; uncertainty; fiscal deficits; institutions;
    All these keywords.

    JEL classification:

    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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