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Economic Cycles in Argentina: 1875–1990

Published online by Cambridge University Press:  19 July 2006

ISABEL SANZ-VILLARROYA
Affiliation:
Department of Economic Structure and History at the Universidad de Zaragoza, Spain.

Abstract

This article analyses the short-run periods that can be derived from the GDP per capita series for Argentina between 1875 and 1990, after extracting its segmented long-run trend using time series techniques and unit root tests. It also studies the economic forces which, from the aggregate demand side, might provide an explanation for this behaviour. This mode of operation makes it possible to identify successive cycles more accurately than in previous studies. A high level of agreement is observed between the results of this study and arguments in the literature regarding the causes shaping these short-run periods: the analysis demonstrates that exports were the key factor until 1932 while after this year consumption and investment came to predominate.

Type
Research Article
Copyright
2006 Cambridge University Press

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Footnotes

An earlier version of this article was written while I was Senior Associate member at the Latin American Centre, St Antony's College, Oxford. I acknowledge financial support from the Spanish Ministry of Education and Science, research project no. SEC2002-01596.