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Acumulación de capital, cambio tecnológico y distribución del ingreso en Argentina (1962-2019)

Author

Listed:
  • Malvicino, Facundo E.

    (Universidad Nacional de Rio Negro)

  • Terranova, Lucas

    (Universidad de Buenos Aires)

Abstract

This paper studies Argentina’s economic growth trajectory between 1962 and 2019. To achieve this, we analyze the pattern of technological progress deduced from the dynamics of labor productivity and the output-capital ratio. Between 1962 and the mid-1980s, technical change was Marx-biased (for example, labor-saving and capital-consuming), which resulted in decreased profitability. From then and until 2008, technological change has been Hicks-neutral with increased profitability. Afterward, profitability resumes the negative trend until the end of the analyzed period. The structural change observed since the middle 1970s is associated with a halving of the average rate of capital accumulation, greater macroeconomic volatility, and changes in development models.

Suggested Citation

  • Malvicino, Facundo E. & Terranova, Lucas, 2024. "Acumulación de capital, cambio tecnológico y distribución del ingreso en Argentina (1962-2019)," El Trimestre Económico, Fondo de Cultura Económica, vol. 91(362), pages 371-405, abril-jun.
    • Handle: RePEc:elt:journl:v:91:y:2024:i:362:p:371-405
    DOI: 10.20430/ete.v91i362.2283
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    More about this item

    Keywords

    Capital accumulation; technical change; income distribution; rate of profit; Argentina.;
    All these keywords.

    JEL classification:

    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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