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Ce qu'on en dit après - le Currency Board argentin et sa fin tragique

  • Jérôme Sgard
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    L’Argentine a mené entre 1991 et 2001 une des expériences de currency board les plus remarquables de la période moderne. Comment rendre compte de cette expérience, prise dans son ensemble ? Qu’apprend-elle sur les avantages et les inconvénients des currency board ? Comment expliquer son échec final et quelles conclusions plus générales en tirer ? Telles sont les questions auxquelles cet article souhaite apporter des éléments de réponse. Pour cela, l’auteur commence par rappeler les principaux caractères de ce modèle, puis met en perspective la trajectoire de l’économie argentine au cours des années 1991-2001 ; enfin, il analyse les principales thèses défendues depuis la fin de 2001, en s’en tenant principalement au débat international.

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    Paper provided by Sciences Po in its series Sciences Po publications with number info:hdl:2441/6827.

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    Date of creation: 2004
    Date of revision:
    Publication status: Published in Revue d'économie financière, 2004, pp.129-152
    Handle: RePEc:spo:wpmain:info:hdl:2441/6827
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    1. Feldstein, Martin, 2002. "Argentina's Fall: Lessons from the Latest Financial Crisis," Scholarly Articles 2959849, Harvard University Department of Economics.
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    13. Eduardo Levy Yeyati, 2003. "Financial Dedollarization: A Carrot and Stick Approach," Business School Working Papers nueve, Universidad Torcuato Di Tella.
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    16. Alberola, Enrique & Lopez, Humberto & Serven, Luis, 2004. "Tango with the Gringo: the hard peg and real misalignment in Argentina," Policy Research Working Paper Series 3322, The World Bank.
    17. Perry, Guillermo & Serven, Luis, 2003. "The anatomy of a multiple crisis : why was Argentina special and what can we learn from it?," Policy Research Working Paper Series 3081, The World Bank.
    18. Alan M. Taylor, 1997. "Argentina and the World Capital Market: Saving, Investment, and International Capital Mobility in the Twentieth Century," NBER Working Papers 6302, National Bureau of Economic Research, Inc.
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    20. Dillinger,William R. & Webb,Steven Benjamin, 1999. "Fiscal management in federal democracies : Argentina and Brazil," Policy Research Working Paper Series 2121, The World Bank.
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