Argentina's capital gap puzzle

Finn E. Kydland and Carlos E. J. M. Zarazaga ()

No 504, Center for Latin America Working Papers from Federal Reserve Bank of Dallas

Abstract: Argentina’s GDP per working age person in 2003 was about the same as it was twenty years earlier and around fifteen percent below trend. By international standards that has been a dismal performance whose ultimate sources are important to uncover to eventually reverse that country’s seemingly secular decline. The purpose of this paper is precisely to take a first step towards that understanding. To that effect, we examine Argentina’s recent growth experience, which includes two deep recessions and a recovery, with the lens of a neoclassical growth model that takes total factor productivity as exogenous.

Keywords: Argentina (search for similar items in EconPapers)
Date: 2004
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