La crise argentine 1976-2001 : lectures institutionnalistes et régulationnistes
It is argued that the conventional analysis of the 2001 Argentina crisis in terms of populist budgetary policies and institutional rigidities of labor market is not satisfactory. The 2001 collapse takes place within a long history, but it results from a quite specific factor: the structural unbalance within the accumulation regime implied by the convertibility and the complete opening to world trade and financial globalization. The shakiness of major institutional compromises and the lack of policy tools to respond to the vagaries of the world economy explain the 1998 turning point from growth to depression. The fast economic recovery observed since 2002, associated to the default of public debt and the pesification, does not mean that Argentina has definitely overcome the structural obstacles that have been hindering its growth since 1976. The likelihood and resilience of alternative development modes is finally discussed. It is difficult to overcome the logic of a primary product exporter country. Of course, its potential is larger in the 2000s, but this economic regime is not totally transformed by the expected medium term rise of commodities prices at the world level.
|Date of creation:||Dec 2007|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00587696|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pierre Berthelier & Alain Desdoigts & Jacques Ould Aoudia, 2004. "Profils institutionnels," Revue Française d'Économie, Programme National Persée, vol. 19(1), pages 121-196.
- Barry Eichengreen & Ricardo Hausmann, 1999.
"Exchange rates and financial fragility,"
Proceedings - Economic Policy Symposium - Jackson Hole,
Federal Reserve Bank of Kansas City, pages 329-368.
- Krugman, Paul, 1979. "A Model of Balance-of-Payments Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 11(3), pages 311-325, August.
- Fanelli, José María & Heymann, Daniel, 2002. "Monetary dilemmas: Argentina in MERCOSUR," Estudios y Perspectivas – Oficina de la CEPAL en Buenos Aires 7, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
- Jorge Eduardo Carrera & Mariano Feliz & Demian Panigo, 2000. "How Does Dollarization Affect Real Volatility and Country Risk?," Económica, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 0(2), pages 73-136, July-Dece.
When requesting a correction, please mention this item's handle: RePEc:hal:psewpa:halshs-00587696. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If references are entirely missing, you can add them using this form.