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From Crisis to Recovery, 1998–2006

In: The Elusive Quest for Growth in Argentina

Author

Listed:
  • Daniel Chudnovsky
  • Andrés López

Abstract

During 1998–199, the Argentine economy suffered a series of external shocks as a result of the Asian, Russian, and Brazilian crises. These shocks, combined with the weaknesses of the Argentine economy, led to a long recessive period that ended in the biggest crisis in the country’s history in 2001–2002. Not only did the GDP record a drastic fall (see graph 8.1), but there was also a banking crash. The economic crisis turned into a deep political crisis, and finally led to the default of the external debt and to a huge peso devaluation in the middle of a sharp increase in the unemployment rate and in the number of families under the poverty line (see graphs 2.9 and 2.10).

Suggested Citation

  • Daniel Chudnovsky & Andrés López, 2007. "From Crisis to Recovery, 1998–2006," Palgrave Macmillan Books, in: The Elusive Quest for Growth in Argentina, chapter 0, pages 135-159, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-60427-8_8
    DOI: 10.1057/9780230604278_8
    as

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