In the belief that the disappointing rate of growth of Argentina since the 1930s was the consequence of excessive government meddling in the economy, in the mid-1970s the military government took the decision to attempt a radical change in the development strategy: the model of industrialisation based on import substitution was replaced by one based on the conviction that faster economic growth would result if market forces were given free rein, with the State taking a back seat. The de-regulation of the repressed financial system and the opening up of the economy to the world capital markets following the neo-classical principles in vogue at that time was the cornerstone of the new model of accumulation. It was believed that this would lead to higher rates of savings and investment coupled with a more efficient allocation of resources. This study uses the new information economics approach to explain why this experiment culminated in a dramatic financial collapse and generated a severe economic downturn with long-term consequences for the country.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:550718 |
| Date | January 2011 |
| Creators | Fernández, Raúl Alberto |
| Publisher | London School of Economics and Political Science (University of London) |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
| Source | http://etheses.lse.ac.uk/293/ |
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