Argentina : a decade of the convertibility regime
By: FRENKEL, Roberto
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ArticlePublisher: São Paulo : Editora 34, out./dez. 2002Revista de Economia Política = Brazilian Journal of Political Economy 22, 4, p. 3-14Abstract: The article is an assessment of the Convertibility period in Argentina, which covers the nineties. It is presented in two sections. In the first section the macroeconomic performance is described and evaluated, together with the effects on employment, unemployment and income distribution. An important contraction in full employment and significant increments in unemployment and involuntary underemployment are stressed. As from the mid-nineties the income distribution shows a strong worsening trend and the poverty and indigence indicators tend to rise. The increment in unemployment stands as the main explanatory factor of the worsening of social conditions. In the second section different aspects of the Convertibility Regime are discussed: the appreciated exchange rate, the dollarization of the financial system, the accentuated dependency on capital flows, the external sustainability and the regime durability
The article is an assessment of the Convertibility period in Argentina, which covers the nineties. It is presented in two sections. In the first section the macroeconomic performance is described and evaluated, together with the effects on employment, unemployment and income distribution. An important contraction in full employment and significant increments in unemployment and involuntary underemployment are stressed. As from the mid-nineties the income distribution shows a strong worsening trend and the poverty and indigence indicators tend to rise. The increment in unemployment stands as the main explanatory factor of the worsening of social conditions. In the second section different aspects of the Convertibility Regime are discussed: the appreciated exchange rate, the dollarization of the financial system, the accentuated dependency on capital flows, the external sustainability and the regime durability
v. 22, n. 4(88)
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