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Macroeconomic instability in Argentina 1963-2003

Author

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  • Arza, Valeria

    (CONICET, CENIT)

Abstract

Macroeconomic instability discourages investment plans due to the interference it generates in anticipating the behaviour of key variables of the context. This study suggests that the Argentinean macroeconomic setting was, historically, highly unstable. During the 39 years of economic policy studied in this paper, there were 19 reversals in policy orientations. Cycles characterised by orthodox policies lasted about three and a half years on average, while heterodox cycles hardly overcame the year. Consequently, economic cycles -calculated on the basis of GDP- were short (3 years) and volatility of macroeconomic indicators was internationally high.

Suggested Citation

  • Arza, Valeria, 2009. "Macroeconomic instability in Argentina 1963-2003," Revista de Economía Política de Buenos Aires, Universidad de Buenos Aires. Facultad de Ciencias Económicas., issue 5-6, pages 33-50, December.
    • Handle: RePEc:ake:repba1:y:2009:i:5-6:p:33-50
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    File URL: http://ojs.econ.uba.ar/index.php/REPBA/article/view/271/489
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    Citations

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    Cited by:

    1. Valeria Arza & Elisa Giuliani & Federica Nieri, 2019. "DRIFTING ON A CALMA CHICHA AFTER COUNTLESS STORMS: How macroeconomic uncertainty affects firms' de cisions to innovate in emerging countries," Discussion Papers 2019/251, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    2. Arza, Valeria & López, Emanuel, 2021. "Obstacles affecting innovation in small and medium enterprises: Quantitative analysis of the Argentinean manufacturing sector," Research Policy, Elsevier, vol. 50(9).

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