Instituciones y políticas en el declive económico de Uruguay durante el siglo xx*

Gabriel Oddone París

Revista de Historia Económica / Journal of Iberian and Latin American Economic History, 2008, vol. 26, issue 1, 45-81

Abstract: The economic history of Uruguay throughout the 20th century, and more especially its second half, is characterized by a long-term economic decline. From the end of the Second World War, economic institutions and the policies adopted were unable to create a favorable climate for growth and development. This article presents evidence to support the idea that institutional factors played a part in the weak GDP growth and the high level of cyclical volatility between 1920 and 2001. Some factors stand out as particularly relevant: the weakening of governments' political power, increasing fragmentation of the political system, an excessively discretional monetary policy and the existence of opportunistic political cycles in macroeconomic policies.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:cup:reveco:v:26:y:2008:i:01:p:45-81_00

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