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A Note on Argentina, Its Crisis, and the Theory of Exchange Rate Determination

Author

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  • Mariano Féliz

    (CEIL-PIETTE/CONICET, Department of Economics, National University of La Plata, mfeliz@ceil-piette.gov.ar)

Abstract

Argentina’s crisis at the end of the twentieth century surprised economists. Argentina turned from a “Latin American miracle†to an unprecedented failure. This article looks into the crisis stressing the role of the exchange rate regime and emphasizes the overvaluation of the real exchange rate as a part of capital’s strategy to decompose labor and restructure capital-labor relations. Argentina’s crisis resulted from the combination of capital’s strategic success and the recomposition of labor in the late nineties.

Suggested Citation

  • Mariano Féliz, 2007. "A Note on Argentina, Its Crisis, and the Theory of Exchange Rate Determination," Review of Radical Political Economics, Union for Radical Political Economics, vol. 39(1), pages 80-99, March.
    • Handle: RePEc:sae:reorpe:v:39:y:2007:i:1:p:80-99
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