Institutional Determinants of the Argentinean Crisis: A Systemic Approach

Guillermo Cardoza, Julián Díaz Saavedra and Adriana Ángel
Authors registered in the RePEc Author Service: Julián Díaz-Saavedra

MPRA Paper from University Library of Munich, Germany

Abstract: The explanations given for the Argentinean crisis are fragmentary and center almost exclusively on the causal relationships among economic variables. This study builds on the interpretations that various economists have presented regarding the Argentinean crisis. Based on identified factors, a conceptual approach is used to expose the systemic and dynamic nature of the crisis and to permit an analysis of the interrelationship among the economic, political and institutional factors that triggered it. The article contends that in addition to economic and financial factors, the Argentinean crisis was aggravated due to: (1) institutional frailty, inadequate political management, and lack of transparency, which led to increasing instability and uncertainty; and (2) institutional weakness and obsolescence, which hindered reform consolidation and juridical standards for guaranteeing property rights and adherence to contracts. The article also maintains that the solutions to the crisis required the coordinated actions of different economic and political agents within the framework of a new social pact.

Keywords: Emerging markets; Argentinean crisis; institutional determinants; competitiveness (search for similar items in EconPapers)
JEL-codes: F00 (search for similar items in EconPapers)
Date: 2006-01-02, Revised 2006-01-02
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in Latin American Business Review 1.7(2006): pp. 1-32

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/88994/1/MPRA_paper_88994.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:88994

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().