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Institutions and economic growth in 19th century Argentina: testing Alberdi’s thesis

Author

Listed:
  • Emilio Ocampo

Abstract

This paper evaluates a largely overlooked thesis developed by Juan Bautista Alberdi of Argentina’s 19th-century economic development using econometric time-series methods. Annual series of GDP per capita, export performance, and monthly London prices of bonds issued by the Republic of Argentina and the Province of Buenos Aires are used to test whether major institutional events in 1853, 1862, and 1880 correspond to statistically significant structural changes in economic performance and sovereign credit risk. The results provide consistent evidence of institutional turning points consistent with Alberdi’s thesis and challenge conventional interpretations that identify the early 1860s as the start of Argentina’s convergence to the Western Offshoots.

Suggested Citation

  • Emilio Ocampo, 2026. "Institutions and economic growth in 19th century Argentina: testing Alberdi’s thesis," CEMA Working Papers: Serie Documentos de Trabajo. 924, Universidad del CEMA.
    • Handle: RePEc:cem:doctra:924
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    File URL: https://ucema.edu.ar/sites/default/files/2026-04/dt924.pdf
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    More about this item

    JEL classification:

    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
    • N46 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Latin America; Caribbean
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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