Finance and Development in an Emerging Market: Argentina and the Interwar Period
AbstractThe long-run economic performance of Argentina since World War One has been relatively disappointing until recently. Yet, in the interwar period, signs of future retardation and" recurring crises were not so obvious. It is often claimed that an unmitigated success was the" remarkably rapid growth of domestic financial markets. In conventional models deepening industrializing economy such as" Argentina's. Yet the promise of this trend was unfulfilled: first the outbreak of World War One" and then the Great Depression proved a setback for the fledgling financial system deterioration set in after 1940. In this paper we trace the course of financial development using" historical and international comparisons and we analyze both macro- and microeconomic aspects" of financial intermediation.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6236.
Date of creation: Oct 1997
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Publication status: published as Coatsworth, John H. and Alan M. Taylor (eds.) Latin America and the world economy since 1800, Series on Latin American Studies. Cambridge: David Rockefeller Center for Latin American Studies; distributed by Harvard University Press, 1998.
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Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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- Gerardo della Paolera and Alan M. Taylor., 1997. "Finance and Development in an Emerging Market: Argentina in the Interwar Period," Center for International and Development Economics Research (CIDER) Working Papers C97-089, University of California at Berkeley.
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