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Derechos de propiedad y crecimiento económico en Argentina : 1875-1990

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  • Sanz Villarroya, Isabel

Abstract

La explicación del fracaso argentino ha acaparado la atención de los estudiosos de la economía y la historia que tratan de averiguar porqué a partir de un determinado momento la evolución económica de este país se desvió de la seguida por otros desarrollados con los que podía equipararse, tales como Australia y Canadá. Entre las razones aducidas en la historiografía destacan su elevado crecimiento demográfico, las incorrectas políticas aplicadas, así como la inestabilidad de su marco institucional y la estructura de incentivos derivada del mismo. En este trabajo se trata de integrar todas estas causas en un modelo de crecimiento en el que la variable institucional, aproximada como el porcentaje de depósitos bancarios sobre la oferta monetaria, juega un papel determinante. De acuerdo al sistema de ecuaciones que define a dicho modelo, esta variable afecta positivamente a la inversión a través del precio relativos de los bienes de capital. A su vez, la inversión se encuentra relacionada de manera positiva con el crecimiento del producto. La relevancia de la variable institucional es tal que si se realiza un contrafactual suponiendo que el marco institucional hubiese sido más estable, se advierte que Argentina habría experimentado unas tasas de crecimiento per cápita mayores que le hubiesen permitido no solo acortar distancias con Australia y Canadá durante más tiempo sino también superar los niveles de estos países al menos hasta la década de los cincuenta.

Suggested Citation

  • Sanz Villarroya, Isabel, 2003. "Derechos de propiedad y crecimiento económico en Argentina : 1875-1990," IFCS - Working Papers in Economic History.WH dh030403, Universidad Carlos III de Madrid. Instituto Figuerola.
    • Handle: RePEc:cte:whrepe:dh030403
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    References listed on IDEAS

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