Firm creation, productivity growth and structural change as responses to a change in macroeconomic policy. Evidence for Argentina

Jorge Katz () and Gonzalo Bernat ()
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Jorge Katz: INTELIS – Universidad de Chile
Gonzalo Bernat: Universidad de Buenos Aires

Revista de Economía Política de Buenos Aires, 2011, issue 9-10, 9-39

Abstract: In this paper, we study how different industries responded to the contraction and subsequent expansion of economic activities that resulted from the country abandoning the currency board regime, i.e. the micro and structural response to a major change in macroeconomic policy regime. The main research results indicate that a combination of less macroeconomic turbulence, a higher real exchange rate and the expansion of domestic demand brought about the concretion of investment projects, partially associated to the birth of (more competitive) firms, although only within low tech sectors and in a few (medium) high tech activities.

Keywords: macroeconomic policy; structural change; productivity growth; Firm creation; Argentina (search for similar items in EconPapers)
Date: 2011
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