The boom and crisis of the Convertibility Plan in Argentina
By: SALVIA, Sebastián Pedro
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ArticlePublisher: São Paulo : Editora 34, Apr./June 2015Subject(s): Crise Econômica | Políticas Públicas | Reforma Administrativa | ArgentinaOnline resources: Acesso Revista de Economia Política = Brazilian Journal of Political Economy 35, 2 (139), p. 325-342Abstract: This article analyses the relationship between state policies and economy in Argentina 1991-2001. In 1991 the currency board regime named convertibility was implemented, within the framework of important neoliberal reforms introduced by the State. These neoliberal reforms facilitated capitalist restructuring, characterized by a leap in productivity, investment and profits. Likewise, these reforms generated imbalances which, along with the changes in the world market conditions from 1998, led to the deepest crisis in Argentinas history. The inefficiency of state neoliberal policies in managing the crisis, based on fiscal adjustment to guarantee the continuity of external financing, led to an economic depression and a financial crash, sparking a mass rebellion and the end of convertibility
This article analyses the relationship between state policies and economy in Argentina 1991-2001. In 1991 the currency board regime named convertibility was implemented, within the framework of important neoliberal reforms introduced by the State. These neoliberal reforms facilitated capitalist restructuring, characterized by a leap in productivity, investment and profits. Likewise, these reforms generated imbalances which, along with the changes in the world market conditions from 1998, led to the deepest crisis in Argentinas history. The inefficiency of state neoliberal policies in managing the crisis, based on fiscal adjustment to guarantee the continuity of external financing, led to an economic depression and a financial crash, sparking a mass rebellion and the end of convertibility
ISSN eletrônico: 18094538
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