La crisis argentina del 2002 desde la perspectiva del ciclo económico austriaco

The Argentine crisis of 2002 from the perspective of the austrian business cycle

Nicolle Valentina Herrera Pinto

Econógrafos, Escuela de Economía from Universidad Nacional de Colombia, FCE, CID

Abstract: The purpose of this document is to empirically explain, from the theory austrian business cycle, the causal relationship that exists between interventionist policies in Argentina since 1983 and its subsequent crisis in the year 2002. In that time period were put in place five different plan of economic stabilization, which had as a main purpose, to stop the growing inflation characteristic of this country and to increase the economic growth. Said plans were carries out through monetary policies massively implemented by the Central Bank of the Republic of Argentina, which were based on the manipulation of the money supply and mostly credit to the private sector. However, of the five plans that was instaured, no plan were able to create better conditions in the long term, in addition, as a new plan was carried out, inflation, unemployment and poverty increased, which is evident in the crisis of 2001 - 2002. According to the Austrian School, these manipulations have a direct causality with periods of hyperinflation, depression as simultaneous recession, as evidenced by the Argentine case in the period studied.

Keywords: Austrian School; Austrian Economic Cycles; Argentine Crisis (search for similar items in EconPapers)
JEL-codes: B25 B53 E32 E43 E52 (search for similar items in EconPapers)
Pages: 14
Date: 2020-03
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Published in Econografos

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Persistent link: https://EconPapers.repec.org/RePEc:col:000176:022724

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