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Tres fases del crecimiento económico argentino

Published online by Cambridge University Press:  28 April 2010

Alan M. Taylor
Affiliation:
Northwestern University

Abstract

Much of Argentina's decline in relative economic performance can be attributed to deleterious conditions for capital accumulation after 1913. In the first phase (pre–1913), the success of the Belle Epoque was due to spectacular rates of accumulation. In the second phase (1913–1930s), low domestic savings rates constrained the rate of capital accumulation. In the third phase (1930s–1950s) import–substitution policies were implemented and the relative price of key imported capital goods rose sharply. Retardation ensued: at first because of insufficient saving; later because price disincentives channeled funds away from investment activities which are the precursor of growth.

Resumen

El empeoramiento de los resultados económicos relativos de Argentina puede atribuirse, en gran parte, a las desfavorables condiciones existentes para la acumulación de capital a partir de 1913. En la primera fase (antes de 1913) el éxito de la Belle Époque se debió a las espectaculares tasas de acumulación. En la segunda fase (1913–década de 1930) la baja tasa nacional de ahorro limitó la tasa de acumulación de capital. En la tercera fase (década de 1930–década de 1950) se adoptó una política de sustitución de las importaciones y el precio relativo de los bienes de capital importados que eran clave experimentó una brusca subida. Ahí comenzó el retraso: al principio, debido a que el ahorro era insuficiente ahorro y, más tarde, a que los altos precios de los bienes de capital importados redujeron los incentivos para realizar actividades de inversión que son las precursoras del crecimiento.

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Artículos
Copyright
Copyright © Instituto Figuerola de Historia y Ciencias Sociales, Universidad Carlos III de Madrid 1994

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