THE FINANCIAL CRISIS IN ARGENTINA

 
 
 
 
AN ECONOMIC ANALYSIS OF THE FINANCIAL CRISIS IN ARGENTINA

The financial crisis in Argentina may appear to a phenomenon of current origin. In fact, however, Argentina has been a state of financial crisis for more than 20 years, although the intensity of the problems waxed and waned from time to time. There is a tendency among analysts to treat the immediate problems experienced by Argentina as of they are manifestations of something new as of yesterday, as of last month, or of the past year. The immediate financial problems being experienced by Argentina, however, can only be understood when they are considered in a broader temporal context (Alvarez-Plata & Schrooten, 2003).

Argentina implemented what some observers described as an unprecedented and successful economic restructuring based on macroeconomic stabilization, trade liberalization, privatization, and public administrative reform in 1989. The 1991 Convertibility Law created a quasi currency board that initially was successful in maintaining price stability. The law linked the value of the peso directly to the value of the United States dollar at a one-to-one ratio. The Argentinean government privatized most state-controlled companies, opened the economy to foreign trade and investment, improved tax collection, and created private pension and workers compensation systems. The privatization initiative and opening of the economy were elements of a plan proposed by the International Monetary Fund (IMF) and stro

     
 
 
 
    

 

Related Essays

Financial Crisis in Argentina Financial Crisis in Argentina. The financial crisis in Argentina may appear to a phenomenon of current origin. In fact, however, Argentina .... (1014 4 )

Argentina Economy .... capitalism" (1). There are many other reasons contributing to the financial and economic crisis in Argentina where the standard of living continues to decline. .... (4028 16 )

Asian Financial Crisis .... link with the US dollar has withstood emerging market financial crisis, transfer of .... by comparing Hong Kong to economic systems like Argentina's currency board .... (6098 24 )

Argentina's Economic Recovery .... The disruption of Mexico's economy in late 1994 triggered a confidence crisis in Argentina's financial system in early 1995. Despite .... (2590 10 )

Mexican Debt Crisis of the 1980s & Latin America .... in the wake of the Asian financial crisis. The situation was rocky in 1999 and 2000 and fell completely to pieces in 2001. Argentina essentially passed control .... (2235 9 )


Category: Economics - T
 
 
 
Common Topics
 
 
 
 
 
 
 
Click Here to Get Instant Access to over 32,000 Professionally Written Papers!!!
 
 
 
Join Now  
 
 
 
 
 
Saved Papers  
 
 
Save your essays here so you can locate them quickly!
 
 
 
Testimonials  
 
"Thank you for making such a high quality site! Your papers are the best I have seen around"
Debbie B.
 
"Your site was very helpful and gave me the details I needed in order to complete my essay!!!"
Mike F.
 
"This site is an excellent vehicle for quick referrences. Thanks a bunch!"
Carla T.
 
"Great site, I got a lot of new ideas I would have never thought of before."
Nate A.
 
"I love this site!!!"
Marie H.
 
 
 
 
Copyright © 2007 - 2014 Lots of Essays. All Rights Reserved. DMCA