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The Political Economy of Economic Reforms in Argentina

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  • Juliana Bambaci
  • Tamara Saront
  • Mariano Tommasi

Abstract

In 1989, Argentina entered a process of sweeping transformation of its economic institutions which provided for the (temporary) recovery of economic growth and the taming of inflation. The Argentine experience with market-oriented reforms has been regarded by the literature as a salient case of radical and 'unconstrained' reform. Yet, a closer scrutiny portrays that the building and maintenance of a pro-"reform coalition determined the pace, depth and characteristics of the 'new economic institutions'. The idiosyncrasies of Argentina's political institutions, in turn, conditioned this coalition-building strategy. The same idiosyncrasies were at play in the 2001/2002 collapse of the convertibility regime and ensuing social and political chaos.

Suggested Citation

  • Juliana Bambaci & Tamara Saront & Mariano Tommasi, 2002. "The Political Economy of Economic Reforms in Argentina," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 5(2), pages 75-88.
    • Handle: RePEc:taf:jpolrf:v:5:y:2002:i:2:p:75-88
    DOI: 10.1080/13841280214092
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    References listed on IDEAS

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    1. Eduardo Lora, 1997. "A Decade of Structural Reform in Latin America: What Has Been Reformed and How to Measure It," Research Department Publications 4074, Inter-American Development Bank, Research Department.
    2. Lora, Eduardo, 2001. "Structural Reforms in Latin America: What Has Been Reformed and How to Measure It," IDB Publications (Working Papers) 3338, Inter-American Development Bank.
    3. Juliana Bambaci & Tamara Saront & Mariano Tommasi, 2002. "The Political Economy of Economic Reforms in Argentina," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 5(2), pages 75-88.
    4. Cukierman, Alex & Tommasi, Mariano, 1998. "When Does It Take a Nixon to Go to China?," American Economic Review, American Economic Association, vol. 88(1), pages 180-197, March.
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    6. John Williamson, 1994. "The Political Economy of Policy Reform," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 68, April.
    7. Eduardo Lora, 1997. "A Decade of Structural Reform in Latin America: What Has Been Reformed and How to Measure It," Research Department Publications 4074, Inter-American Development Bank, Research Department.
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    Citations

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    Cited by:

    1. Mariano Tommasi, 2002. "Crisis, Political Institutions and Policy Reform: It Is Not the Policy, It Is the Polity, Stupid," Working Papers 49, Universidad de San Andres, Departamento de Economia, revised Jun 2004.
    2. Lodewijk Smets & Stephen Knack, 2018. "World Bank Policy Lending and the Quality of Public-Sector Governance," Economic Development and Cultural Change, University of Chicago Press, vol. 67(1), pages 29-54.
    3. Jac C. Heckelman & Stephen Knack, 2008. "Foreign Aid and Market‐Liberalizing Reform," Economica, London School of Economics and Political Science, vol. 75(299), pages 524-548, August.
    4. Héctor G. González Padilla, 2009. "La privatización de bancos públicos provinciales en Argentina en 1993-2001," CEMA Working Papers: Serie Documentos de Trabajo. 401, Universidad del CEMA.
    5. Alvaro Forteza & Mario Tommasi, 2005. "Understanding reform in Latin America," Documentos de Trabajo (working papers) 2205, Department of Economics - dECON.
    6. Mariano Tommasi, 2002. "Federalism in Argentina and the Reforms of the 1990s," Working Papers 48, Universidad de San Andres, Departamento de Economia, revised May 2002.
    7. Antonio Cusato Novelli, 2021. "Sovereign default, political instability and political fragmentation," Review of International Economics, Wiley Blackwell, vol. 29(4), pages 732-755, September.
    8. Lodewijk Smets & Stephen Knack, 2016. "World Bank Lending and the Quality of Economic Policy," Journal of Development Studies, Taylor & Francis Journals, vol. 52(1), pages 72-91, January.
    9. Sebastián M. Saiegh & Mariano Tommasi, 1999. "Why is Argentina's Fiscal Federalism so Inefficient? Entering the Labyrinth," Journal of Applied Economics, Taylor & Francis Journals, vol. 2(1), pages 169-209, May.
    10. Glen Biglaiser & Karl DeRouen, 2011. "How soon is now? The effects of the IMF on economic reforms in Latin America," The Review of International Organizations, Springer, vol. 6(2), pages 189-213, July.
    11. Santiago Urbiztondo & Marcela Cristini & Cynthia Moskovitz & Sebastian Saiegh, 2009. "The Political Economy of Productivity in Argentina: Interpretation and Illustration," Research Department Publications 4641, Inter-American Development Bank, Research Department.
    12. Khemani, Stuti, 2002. "Federal politics and budget deficits: evidence from the states of India," Policy Research Working Paper Series 2915, The World Bank.
    13. Ethan Kapstein & Nathan Converse, 2006. "The Economics of Young Democracies: Policies and Performance," Working Papers 85, Center for Global Development.
    14. Rok Spruk, 2019. "The rise and fall of Argentina," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 28(1), pages 1-40, December.
    15. Mariano Tommasi, 2003. "Crises, institutions politiques et réformes politiques : le bon, le mauvais et l'affreux," Revue d’économie du développement, De Boeck Université, vol. 11(2), pages 49-81.
    16. Mariano Tommasi & Pablo T. Spiller & Ernesto Stein, 2003. "Political Institutions, Policymaking Processes, and Policy Outcomes. An Intertemporal Transactions Framework," Working Papers 59, Universidad de San Andres, Departamento de Economia, revised Jul 2003.
    17. Cesar Martinelli & Akihiko Matsui, 1999. "Policy Reversals: Electoral Competition with Privately Informed Parties," Working Papers 9905, Centro de Investigacion Economica, ITAM, revised Jan 2000.
    18. Miroslav Beblavý, 2011. "Why has the crisis been bad for private pensions, but good for the flat tax? The sustainability of ‘neoliberal’ reforms in the new EU member states," CEPS Papers 6313, Centre for European Policy Studies.
    19. Juliana Bambaci & Tamara Saront & Mariano Tommasi, 2002. "The Political Economy of Economic Reforms in Argentina," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 5(2), pages 75-88.
    20. Marcos A. Buscaglia, 2003. "The Political-Economy of Argentina???s Debacle," William Davidson Institute Working Papers Series 2003-594, William Davidson Institute at the University of Michigan.
    21. Tenreyro, Silvana & Drechsel, Thomas & McLeay, Michael, 2019. "Monetary policy for commodity booms and busts," CEPR Discussion Papers 14030, C.E.P.R. Discussion Papers.
    22. Marcos Buscaglia, 2004. "The Political Economy of Argentina's Debacle," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 7(1), pages 43-65.

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