Introduction

In this work, we present an evolutionary-institutional model of the economic development process, and an analysis of the Argentine economy and its development dynamic since 1946. The focus of the formulation is on integrating institutions and technology and allowing for complex feedback processes among influencing factors, in patterns of circular and cumulative causation. Argentina has shown a very interesting development dynamic — from an analytical perspective; for the affected, painful has often been more appropriate. The country was seen to be on the verge of joining the most developed economies a few times during the twentieth century, but its development process was regularly interrupted, leading to periods during which it lost ground relative to more developed as well as some developing economies, and at times even in absolute terms. This was particularly puzzling as Argentine society and economy have abundant access to the factors that had long been seen as the crucial ingredients for a successful economic development. Focusing on institutional framework and technological capacity for understanding a development trajectory, we can stress some aspects that are often neglected and thus offer some additional insights here.