Three Phases of Argentine Economic Growth

35 Pages Posted: 8 Mar 2000 Last revised: 3 Mar 2023

See all articles by Alan M. Taylor

Alan M. Taylor

University of California, Davis - Department of Economics; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Date Written: October 1994

Abstract

Much of Argentina's decline in relative economic performance can be attributed to deleterious conditions for capital accumulation after 1913. In the first phase (pre-1913), the success of the Belle ?poque was due to spectacular rates of accumulation. In the second phase (1913-1930s), low domestic savings rates constrained the rate of capital accumulation. In the third phase (1930s-1950s), import- substitution policies were implemented and the relative price of key imported capital goods rose sharply. Retardation ensued: at first because of insufficient saving; later because price disincentives channeled funds away from investment activities which are the precursor of growth.

Suggested Citation

Taylor, Alan M., Three Phases of Argentine Economic Growth (October 1994). NBER Working Paper No. h0060, Available at SSRN: https://ssrn.com/abstract=190398

Alan M. Taylor (Contact Author)

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