Economic growth in Argentina: investment, institutions and decline, decay, decadence, downgrade

Orlando Ferreres

Authors

Orlando Ferreres

Keywords:

sustained growth, reliability, decadence, investment, institutions

Abstract

After a brief tour through the milestones in the theoretical development of the subject, the economist Orlando Ferreres examines the process of economic growth in our country through a comparison between the two centuries of our nation’s history. The clear decline that occurred in the second period leads to the problem of investment and institutions, two issues closely linked in economic policy. The loss of the institutional dimension appears as the most important obstacle for a long-term growth. Finally, the author points out the importance of the teachings of some new currents of thought, especially those that analyze the relationship between politics and economics.

Downloads

Download data is not yet available.

References

Acemoglu, D., Johnson, S. y Robinson, J. (2004), “Institutions as the Fundamental Cause of Long-Run Growth”, en Handbook of Economic Growth, Aghion and Durlauf, Cambridge.

Commission on Growth and Develoment (2008), Strategies for Sustained Growth and Inclusive Development, editado por: The

World Bank, Washington.

Esteban, J. C. (1972), Imperialismo y Desarrollo Económico, Merayo, Buenos Aires.

Ferreres, O. J. y otros (2006), Dos siglos de Economía Argentina en Cifras, Ateneo y Norte y Sur, Buenos Aires.

Forbes Harrod, R. (1939), “An Essay in Dynamic Theory”, Economic Journal, nº 49, Marzo 1939, Errata en Junio, p. 377.

Gaillard, N. (2005), “Moody’s Sovereign Ratings: 1918-1939 and 1986-2006 Compared”, en Chaire Finances Internationales Working Paper, Agosto 2007. Publicado también en Journal of Money, Credit and Banking, Octubre 2007.

Hicks, J. (1932), The Theory of Wages, Macmillan, Londres.

Malthus, T. (1820), Principios de Economía Política, Fondo de Cultura Económica, México D.F.

Marx, C. (1867), El Capital, Hyspamerica, Buenos Aires, 1984.

Prebisch, R. (1950), The Economic Development of Latin America and its Principal Problems, UN Economic Commission for Latin America, New York.

Ricardo, D. (1821), Principios de Economía Política y Tributación, Hyspamerica, Buenos Aires, 1985.

Rodrik, D. (2006), “Goodbye Washington Consensus, Hello Washington Confusion? A Review of the World Bank’s Economic Growth in the 1990s: Learning from a Decade of Reform”, Journal of Economic

Literature, Diciembre 2006.

Romer, P. (1986), “Increasing Returns and Long-Run Growth”, Journal of Political Economy, nº 94.

Romer, P. (1990), “Endogenous Technical Change”, Journal of Political Economy, nº 113.

Singer, H. (1950), “The Distribution of Gains between Investing and Borrowing Countries”, American Economic Review, nº 40, Mayo 1950.

Smith, A. (1776), Investigación de la Naturaleza y Causas de la Riqueza de las Naciones, Editorial Bosch, Barcelona, 1955.

Solow, R. (1956), “A Contribution to the Theory of economic Growth”, Quarterly Journal of Economics, nº 70, Febrero 1956.

Solow, R. (1957), “Technical Change and the Aggregate Production Function”, Review of Economics and Statistics, nº 39, Agosto 1957.

Stiglitz, J. (1998), Más Instrumentos y Metas más amplias para el Desarrollo. Hacia el Consenso Post-Washington, Traducción de Joan Prats para Instituto Internacional de Gobernabilidad, WIDER.