Hostname: page-component-848d4c4894-mwx4w Total loading time: 0 Render date: 2024-06-20T10:53:26.986Z Has data issue: false hasContentIssue false

Combining Price Stabilization with Trade and Financial Liberalization Policies: The Argentine Experience, 1976-1981

Published online by Cambridge University Press:  02 January 2018

Jan Peter Wogart*
Affiliation:
World Bank, Washington, DC

Extract

This article assesses the 1976-1981 price stabilization and restructuring program and its impact on major macro- and microeconomic variables in Argentina. More specifically, it concentrates on examining the attempt simultaneously to control inflation and to redirect the economy towards a more marketoriented structure with a rapidly changing combination of domestic and external economic measures. After discussing the objectives and implementation of the program, the development of major macroeconomic variables between 1976 and 1981 is briefly examined. Since several of the macrovariables give conflicting evidence, a more detailed analysis of the program's impact on agriculture and industry was undertaken, which stresses the need to differentiate among the various actors within the major subsectors of the economy.

Type
Research Article
Copyright
Copyright © University of Miami 1983

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Blejer, M. and Mathieson, D. (1981) “The pre-announcement of exchange rate changes as a stabilization instrument.” IMF Staff Papers 281.4 (December): 760-792.Google Scholar
Carvallo, D. T. and A. H., Petrel (1981) “Financing private business in an inflationary context: the experience of Argentina between 1967 and 1980.” Presented at Conference on Financial Policies and the World Capital Market: The Problem of Latin American Countries, Mexico City, March 26-27.Google Scholar
Central Bank of Argentina (1976-1981) Annual and monthly reports. Buenos Aires.Google Scholar
Diaz Alejandro, C. (1980) “Southern cone stabilization plans,” pp. 119-148 in W. Cline and S. Weintraub (eds.) Economic Stabilization in Developing Countries. Washington, DC: Brookings.Google Scholar
DI Tella, G. (1979) “The economic policies of Argentina's labor-based government, 1973-76,” pp. 181-226 in R. Thorp and L. Whitehead, Inflation and Stabilization in Latin America. New York: Holmes and Meier.Google Scholar
Fernandez, R. and Rodriguez, C. (eds.) (1982) Inflación y Estabilidad. Buenos Aires: Edicions Macchi.Google Scholar
Ferrer, A. (1981) “El monetarismo en Argentina y Chile.” Comercio Exterior (January and February): 3-31; 176-192.Google Scholar
Ferrer, A. (1981) “The Argentine economy, 1976-1979.” J. of Interamerican Studies and World Affairs 22, (May): 131-162.CrossRefGoogle Scholar
Krueger, A. (1980) “Interactions between inflation and trade regime objectives in stabilization program,” pp. 83-118 in W. Cline and S. Weintraub (eds.) Economic Stabilization in Developing Countries. Washington, DC: Brookings.Google Scholar
Mallon, R. and Sourrouille, J. (1975) Economic Policy Making in a Conflict Society: The Argentine Case. Cambridge, MA: Harvard Univ. Press Google Scholar
Medina, J. J. (1980) “Evaluación del plan de apertura de la economía Argentina, 1979-1984.” Buenos Aires: CEMA Documentos de Trabajo.Google Scholar
Ministry of Economy of Argentina (1981a) Esquemas de Ahorro-lnversion-Financiamiento. Buenos Aires.Google Scholar
Ministry of Economy of Argentina (1981b) Statistical Review, 1970-1980. Buenos Aires: Treasury and Finance.Google Scholar
Ministry of Economy of Argentina (1976-1981a) Indices de Precios al por Mayor. Monthly series. Buenos Aires: Instituto Nacional de Estadística y Census f INDEC].Google Scholar
Ministry of Economy of Argentina (1976-198Ib) índice de Precios al Consumidor y Salarios Industriales. Monthly series. Buenos Aires: Instituto Nacional de Estadística y Census [INDEC].Google Scholar
Ministry of Economy of Argentina (1976-198le) Annual and monthly reports, Buenos Aires: Secretary of Coordination and Economic Planning.Google Scholar
Ministry of Economy of Argentina (1974-1981) Boletins Informativos. Monthly reports. Buenos Aires: Secretariate of Agriculture.Google Scholar
Ministry of Economy of Argentina (1975-1980) Informe Económico. Monthly reports. Buenos Aires: Secretary of Coordination and Economic Planning.Google Scholar
Nogues, J. (1983) “Política comercial y cambiaría: una interpretación de la experiencia Argentina durante 1976-1981.” Serie de Estudios Técnicos 52. Buenos Aires: Banco Central de la República.Google Scholar
Reca, L. G. (1980) “Argentina: country case study of agricultural prices and subsidies.” World Bank Staff Working Paper 386. Washington, DC: IBRD.Google Scholar
Wogart, J. P. and Marques, J. (forthcoming) “Trade liberalization in an inflationary setting: America Latina y la Economía Mundial.” Buenos Aires: Instituto Torcuato di Telia.Google Scholar
Wynia, G. W. (1978) Argentina in the Postwar Era. Albuquerque: Univ. of New Mexico Press.Google Scholar