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Economic Policies and Sectoral Growth: Argentina 1913-1984

Yair Mundlak, Domingo Cavallo and Roberto Domenech

No 18, OECD Development Centre Working Papers from OECD Publishing

Abstract: In analysing Argentina's variable growth record over the period 1913 to 1984, the study develops a comprehensive framework which disaggregates the economy into three sectors: agriculture, nonagriculture and government. The aim is to examine the relative performance of these sectors in the context of macro-economic policies. The study focuses on the role of the real exchange rate. This is related not only to taxation and trade, as is often the case, but also to macro-economic policies. The differential impact of changes in the real exchange rate on the different sectors is examined, according to their degree of tradability. This analysis is then developed to show how sectoral prices are affected by macro and trade policies, as well as world terms of trade and how this affects sectoral output and hence, resource allocation and productivity. The analysis is presented in terms of a single dynamic model which simulates the growth of the Argentine economy over the entire 1913-1984 period ... Cette étude porte sur les variations de la croissance en Argentine de 1913 à 1984. Son analyse détaillée de l'économie repose sur l'identification de trois secteurs productifs distincts : l'agriculture, les activités non-agricoles et le domaine étatique. Cette division permet d'examiner leurs performances relatives dans le contexte des politiques macro-économiques. L'étude met l'accent sur le rôle des taux de change réels, non seulement au regard de la fiscalité et des échanges, comme on le fait souvent, mais également des politiques macro-économiques. L'effet différentiel des variations des taux de change sur ces secteurs est analysé sous l'angle de leurs conséquences sur les échanges. L'ouvrage étudie ensuite l'influence des politiques macro-économiques et commerciales sur les prix sectoriels, ainsi que sur les termes des échanges internationaux ; il étudie par ailleurs leurs effets sur la production de chaque secteur, la répartition des ressources et la productivité ...

Date: 1990-06-01
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