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A Note on Argentina, Its Crisis, and the Theory of Exchange Rate DeterminationCEIL-PIETTE/CONICET, Department of Economics, National University of La Plata, mfeliz{at}ceil-piette.gov.ar Argentinas crisis at the end of the twentieth century surprised economists. Argentina turned from a "Latin American miracle" to an unprecedented failure. This article looks into the crisis stressing the role of the exchange rate regime and emphasizes the overvaluation of the real exchange rate as a part of capitals strategy to decompose labor and restructure capital-labor relations. Argentinas crisis resulted from the combination of capitals strategic success and the recomposition of labor in the late nineties.
Key Words: Argentina crisis exchange rate convertibility
Review of Radical Political Economics, Vol. 39, No. 1,
80-99 (2007) |
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