La Foreing exchange insufficiency as a cause of Argentine economic crises:

a critic

Authors

  • Gustavo Burachik

Keywords:

economic cycles, economic crises, balance of payments crisis, external constraint

Abstract

The article critically reviews the idea that Argentina's balance of payments crises originate in the existence of a "structural" shortage of currencies. We will analyze several authors who defended this approach in the postwar period. Three conclusions are remarkable. The first is that this thesis is based on an inappropriate diagnosis of the causes of this shortage. The second is that its economic policy proposals, limited to the field of foreign trade, avoid any intervention on the main factors of currency outflow. Finally, more than a theory about barriers to internal growth, the argument of an “external restriction” can be characterized as an attempt to reconcile this growth with a type of international insertion that is clearly unbalanced in terms of the external sector of the economy.

Keywords: economic cycles; economic crises; balance of payments crisis; external constraint.

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References

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Published

2019-12-01 — Updated on 2021-01-07

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How to Cite

Burachik, G. (2021). La Foreing exchange insufficiency as a cause of Argentine economic crises:: a critic. Cuadernos De Economía Crítica, 6(11), 39-64. Retrieved from https://sociedadeconomiacritica.org/ojs/index.php/cec/article/view/95 (Original work published January 4, 2021)

Issue

Vol. 6 No. 11 (2019): Número 11

Section

Artículos

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Copyright (c) 2019 Gustavo Burachik

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