Macroeconomic instability in Argentina 1963-2003

Valeria Arza ()
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Valeria Arza: CONICET, CENIT

Revista de Economía Política de Buenos Aires, 2009, issue 5-6, 33-50

Abstract: Macroeconomic instability discourages investment plans due to the interference it generates in anticipating the behaviour of key variables of the context. This study suggests that the Argentinean macroeconomic setting was, historically, highly unstable. During the 39 years of economic policy studied in this paper, there were 19 reversals in policy orientations. Cycles characterised by orthodox policies lasted about three and a half years on average, while heterodox cycles hardly overcame the year. Consequently, economic cycles -calculated on the basis of GDP- were short (3 years) and volatility of macroeconomic indicators was internationally high.

Keywords: macroeconomics; inestability; Argentina (search for similar items in EconPapers)
Date: 2009
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