La crise argentine 1976-2001: lectures institutionnalistes et régulationnistes

Robert Boyer and Julio Neffa César
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Robert Boyer: PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique
Julio Neffa César: CEIL-PIETTE - Centro de Estudios e Investigaciones Laborales - Programa de Investigaciones Económicas sobre Tecnología, Trabajo y Empleo - CEIL-PIETTE

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Abstract: It is argued that the conventional analysis of the 2001 Argentina crisis in terms of populist budgetary policies and institutional rigidities of labor market is not satisfactory. The 2001 collapse takes place within a long history, but it results from a quite specific factor: the structural unbalance within the accumulation regime implied by the convertibility and the complete opening to world trade and financial globalization. The shakiness of major institutional compromises and the lack of policy tools to respond to the vagaries of the world economy explain the 1998 turning point from growth to depression. The fast economic recovery observed since 2002, associated to the default of public debt and the pesification, does not mean that Argentina has definitely overcome the structural obstacles that have been hindering its growth since 1976. The likelihood and resilience of alternative development modes is finally discussed. It is difficult to overcome the logic of a primary product exporter country. Of course, its potential is larger in the 2000s, but this economic regime is not totally transformed by the expected medium term rise of commodities prices at the world level.

Keywords: Washington consensus; financial crisis; Argentina 2001 crisis; Argentina economic history; "régulation" theory; primary export-led regime; consensus de Washington; crise financière; crise argentine de 2001; histoire économique argentine; théorie de la régulation; modèle primaire exportateur (search for similar items in EconPapers)
Date: 2007-12
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