Three Phases of Argentine Economic Growth
AbstractMuch of Argentina's decline in relative economic performance can be attributed to deleterious conditions for capital accumulation after 1913. In the first phase (pre-1913), the success of the Belle ?poque was due to spectacular rates of accumulation. In the second phase (1913-1930s), low domestic savings rates constrained the rate of capital accumulation. In the third phase (1930s-1950s), import- substitution policies were implemented and the relative price of key imported capital goods rose sharply. Retardation ensued: at first because of insufficient saving; later because price disincentives channeled funds away from investment activities which are the precursor of growth.
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Date of creation: Oct 1994
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Find related papers by JEL classification:
- N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
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