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Finance and Development in an Emerging Market: Argentina and the Interwar Period

29 Pages Posted: 29 Aug 2000  

Gerardo della Paolera

American University of Paris

Alan M. Taylor

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

Date Written: October 1997

Abstract

The long-run economic performance of Argentina since World War One has been relatively disappointing until recently. Yet, in the interwar period, signs of future retardation and" recurring crises were not so obvious. It is often claimed that an unmitigated success was the" remarkably rapid growth of domestic financial markets. In conventional models deepening industrializing economy such as" Argentina's. Yet the promise of this trend was unfulfilled: first the outbreak of World War One" and then the Great Depression proved a setback for the fledgling financial system deterioration set in after 1940. In this paper we trace the course of financial development using" historical and international comparisons and we analyze both macro- and microeconomic aspects" of financial intermediation.

Suggested Citation

della Paolera, Gerardo and Taylor, Alan M., Finance and Development in an Emerging Market: Argentina and the Interwar Period (October 1997). NBER Working Paper No. w6236. Available at SSRN: https://ssrn.com/abstract=225994

Gerardo Della Paolera (Contact Author)

American University of Paris ( email )

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France

Alan M. Taylor

University of California, Davis - Department of Economics ( email )

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HOME PAGE: http://www.econ.ucdavis.edu/faculty/amtaylor/

University of Virginia - Department of Economics ( email )

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HOME PAGE: http://people.virginia.edu/~amt7u

National Bureau of Economic Research (NBER)

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Centre for Economic Policy Research (CEPR)

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