58641. Stabilization and Its Discontents: Argentina's Economic Restructuring in the 1990s
- Author:
- Manuel Pastor and Carol Wise
- Publication Date:
- 05-1998
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Even as multilateral officials adamantly oppose the implementation of currency boards as a way of stabilizing exchange rates and inflation in the wake of the recent Asian financial crisis, Argentina remains committed to such an arrangement. This paper explores the political and economic conditions that prompted Argentine policymakers to adopt an economic management model in 1991 that is generally considered to be less flexible than other approaches now prevailing in Latin America. Short-term outcomes as well as longer-term patterns of economic restructuring now underway in Argentina are analyzed. The authors argue that, despite considerable success on the macro-stabilization front, policymakers still have their work cut out in terms of designing a set of second-phase measures to facilitate smoother adjustment at the microeconomic level.
- Topic:
- Economics and Political Economy
- Political Geography:
- Latin America