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Three Phases of Argentine Economic Growth

  • Alan M. Taylor

Much 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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Paper provided by National Bureau of Economic Research, Inc in its series NBER Historical Working Papers with number 0060.

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Date of creation: Oct 1994
Date of revision:
Publication status: published as Revista de Historia Economics, Volume 12, no. 3 (Autumn 1994).
Handle: RePEc:nbr:nberhi:0060
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  1. Cavallo, Domingo & Mundlak, Yair, 1982. "Agriculture and economic growth in an open economy: the case of Argentina," Research reports 36, International Food Policy Research Institute (IFPRI).
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