Historical Factors of Long-Term Economic Growth and Declination in Argentina: An analysis of the 20th Century

This paper explores the historical long-term determinants of economic growth in Argentina along the XX century. The evidence indicates that at the beginning economic openness plays a key role to explain the successful performance achieved until the great crisis of 1930. From there on, and until the...

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Autores principales: Dabús, Carlos, Delbianco, Fernando
Formato: Artículo revista
Lenguaje:Inglés
Español
Publicado: Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2023
Materias:
Long term growth
Economic instability
Argentina
20th Century
O14
N16
Crecimiento de largo plazo
Inestabilidad económica
Siglo XX
014
Acceso en línea:https://revistas.unc.edu.ar/index.php/REyE/article/view/44195
Aporte de:
Revista de Economía y Estadística de Universidad Nacional de Córdoba
id I10-R326-article-44195
record_format ojs
spelling I10-R326-article-441952024-06-09T03:04:15Z Historical Factors of Long-Term Economic Growth and Declination in Argentina: An analysis of the 20th Century Factores del Crecimiento de Largo Plazo y Declinación en Argentina: Un análisis del Siglo XX Dabús, Carlos Delbianco, Fernando Long term growth Economic instability Argentina 20th Century O14 N16 Crecimiento de largo plazo Inestabilidad económica Siglo XX 014 N16 This paper explores the historical long-term determinants of economic growth in Argentina along the XX century. The evidence indicates that at the beginning economic openness plays a key role to explain the successful performance achieved until the great crisis of 1930. From there on, and until the middle of the ´70s, Argentina maintained a similar growth of the previous period, which was driven by the domestic demand via investment. Nonetheless, in the last quarter of the past century economic growth slowed drastically, which was mainly associated with economic instability, approximated by inflation and the per capita growth rate output volatility. The intuition is that once the country lost foreign markets for its exports, could temporarily sustain growth thanks to domestic demand, but once this strategy petered out the economy was signed by a long period of turbulence and stagnation, specifically since 1975 onwards. Thus, economic policy recommendations are to develop new led export-oriented sectors, so that alleviate the external restriction, as to avoid procyclical policies in order to reduce the economic instability. Reception date: 02/06/2023Acceptance date: 03/08/2023   Este trabajo explora los determinantes históricos del crecimiento económico de largo plazo en Argentina durante el siglo pasado. La evidencia indica que a principios de siglo la apertura económica jugó un rol clave para explicar el exitoso desempeño alcanzado hasta la gran crisis de 1930. De ahí en más, y hasta mediados de los ´70s, la economía mantuvo un crecimiento similar al del periodo previo, el cual estuvo impulsado por la demanda doméstica vía la inversión. Sin embargo, en el último cuarto del siglo pasado el crecimiento económico se redujo drásticamente, lo cual estuvo principalmente asociado con la inestabilidad económica, aproximada por la inflación y la volatilidad del crecimiento del producto per cápita. La intuición es que una vez que el país perdió mercados para sus exportaciones pudo mantener temporariamente el crecimiento gracias a la demanda interna, pero una vez que esta estrategia se agotó la economía entró en un largo periodo de turbulencia y estancamiento, específicamente desde 1975 en adelante. Por tanto, las recomendaciones de política son desarrollar nuevos sectores productivos orientados a la exportación, de manera de mitigar la restricción externa, así como evitar políticas procíclicas a fin de reducir la inestabilidad económica. Fecha de recepción: 02/06/2023Fecha de aceptación: 03/08/2023   Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2023-12-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf text/html https://revistas.unc.edu.ar/index.php/REyE/article/view/44195 10.55444/2451.7321.2023.v61.n1.44195 Revista de Economía y Estadística; Vol. 61 No. 1 (2023); 43-69 Revista de Economía y Estadística; Vol. 61 Núm. 1 (2023); 43-69 2451-7321 0034-8066 10.55444/2451.7321.2023.v61.n1 eng spa https://revistas.unc.edu.ar/index.php/REyE/article/view/44195/44584 https://revistas.unc.edu.ar/index.php/REyE/article/view/44195/45093 Derechos de autor 2023 Carlos Dabús, Fernando Delbianco http://creativecommons.org/licenses/by-nc-nd/4.0
institution Universidad Nacional de Córdoba
institution_str I-10
repository_str R-326
container_title_str Revista de Economía y Estadística
language Inglés
Español
format Artículo revista
topic Long term growth
Economic instability
Argentina
20th Century
O14
N16
Crecimiento de largo plazo
Inestabilidad económica
Siglo XX
014
N16
spellingShingle Long term growth
Economic instability
Argentina
20th Century
O14
N16
Crecimiento de largo plazo
Inestabilidad económica
Siglo XX
014
N16
Dabús, Carlos
Delbianco, Fernando
Historical Factors of Long-Term Economic Growth and Declination in Argentina: An analysis of the 20th Century
topic_facet Long term growth
Economic instability
Argentina
20th Century
O14
N16
Crecimiento de largo plazo
Inestabilidad económica
Siglo XX
014
N16
author Dabús, Carlos
Delbianco, Fernando
author_facet Dabús, Carlos
Delbianco, Fernando
author_sort Dabús, Carlos
title Historical Factors of Long-Term Economic Growth and Declination in Argentina: An analysis of the 20th Century
title_short Historical Factors of Long-Term Economic Growth and Declination in Argentina: An analysis of the 20th Century
title_full Historical Factors of Long-Term Economic Growth and Declination in Argentina: An analysis of the 20th Century
title_fullStr Historical Factors of Long-Term Economic Growth and Declination in Argentina: An analysis of the 20th Century
title_full_unstemmed Historical Factors of Long-Term Economic Growth and Declination in Argentina: An analysis of the 20th Century
title_sort historical factors of long-term economic growth and declination in argentina: an analysis of the 20th century
description This paper explores the historical long-term determinants of economic growth in Argentina along the XX century. The evidence indicates that at the beginning economic openness plays a key role to explain the successful performance achieved until the great crisis of 1930. From there on, and until the middle of the ´70s, Argentina maintained a similar growth of the previous period, which was driven by the domestic demand via investment. Nonetheless, in the last quarter of the past century economic growth slowed drastically, which was mainly associated with economic instability, approximated by inflation and the per capita growth rate output volatility. The intuition is that once the country lost foreign markets for its exports, could temporarily sustain growth thanks to domestic demand, but once this strategy petered out the economy was signed by a long period of turbulence and stagnation, specifically since 1975 onwards. Thus, economic policy recommendations are to develop new led export-oriented sectors, so that alleviate the external restriction, as to avoid procyclical policies in order to reduce the economic instability. Reception date: 02/06/2023Acceptance date: 03/08/2023  
publisher Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
publishDate 2023
url https://revistas.unc.edu.ar/index.php/REyE/article/view/44195
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first_indexed 2024-09-03T20:55:58Z
last_indexed 2024-09-03T20:55:58Z
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