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The nature of Argentina's policy reforms during 1976-1981 (English)

Much of the existing literature on Argentina has emphasized the liberal nature of the economic reforms introduced during 1972-81. A major purpose of this paper is to present evidence that contradicts this interpretation. In particular, it emphasizes the implementation of pervasive government controls and argues that the intensity and instability of these controls resulted in historically high, short run fluctuations of relative prices for commodities and factors.

Details

  • Author

    Nogues, Julio J

  • Document Date

    1986/01/31

  • Document Type

    Staff Working Paper

  • Report Number

    SWP765

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Argentina,

  • Region

    Latin America & Caribbean,

  • Disclosure Date

    2010/07/01

  • Doc Name

    The nature of Argentina's policy reforms during 1976-1981

  • Keywords

    Exchange Rates;exchange rate policy;Exchange rate policies;real exchange rate;dollar exchange rate;gross value of production;fixed exchange rate policy;real effective exchange rate;balance of payment;military government;military industrial complex;Economic Policy;tariff structure;interest rate subsidy;rate of devaluation;wholesale price index;Foreign Exchange Reserve;price differential;relative price;tariff reform;import barrier;tariff policy;reducing trade barriers;nominal exchange rate;capital goods import;increased import competition;allocation of resource;nominal interest rate;nominal lending rate;standard of living;exchange rate series;resource allocation process;official exchange rate;protection of workers;interest rate policy;consumer price index;alternative exchange rate;multiple exchange rate;fluctuations in real;equilibrium exchange rate;continuation of policy;real interest rate;supply of good;foreign exchange market;tariff import;trade policy instrument;tariff on import;domestic price level;rates of protection;exchange rate crisis;lack of credibility;exchange rate rule;types of good;income distribution effects;import license;competitive imports;natural tendency;domestic currencies;Trade Policies;basic metal;real wage;inflation rate;domestic producer;Political Economy;tariff rate;export barrier;export tax;capital inflow;Capital Inflows;stabilization purpose;tariff reduction;manufacturing industry;real devaluation;productive process;simple average;Trade Law;import liberalization;political control;quantitative restriction;competitive force;liberalization policy;tariff schedule;consumer goods;manufacturing sector;tax rate;domestic output;steel product;importable goods;import policy;political power;price behavior;steel industry;government objective;base period;fiscal deficit;car industry;import penetration;export policy;base year;administrative arrangement;currency overvaluation;price control;foreign debt;inflation objective;trade rule;important change;factor price;commodity price;domestic inflation;economic sector;budget deficit;individual products;synthetic rubber;domestic enterprise;policy reversal;domestic demand;financial resource;capital flow;legal barrier;potential competition;liberalization process;protected industry;import substitute;economic instrument;wheat flour;economic interdependence;countervailing duty;import relief;hidden subsidy;world war;monetary approach;open economy;military dictatorship;payment problem;imported inputs;increased export;distribution considerations;import tariff;anti-dumping duty;full employment;corrective action;protectionist policy;monetary model;absolute power;inflationary economy;potential threat;arbitrage activity;import good;liberalization episode;foreign supplier;intermediate imports;transport cost;price change;international inflation;political institutional;neoclassical model;market imperfection;industrial sector;correlation coefficient;urban sector;Labor Union;political scientist;resource-rich country;producing good;wage control;price arbitrage;market structure;econometric analysis;protected goods;tariff change;initial tariff;net result;stabilization instrument;tariff negotiation;quantitative estimate;international competition;rank correlation;trade balance;capital account;real appreciation;price effect;competitive market;price mechanism;domestic sale;research program;statistical table;economic reform;government control;social tension;wage policy;traditional methods;international transaction;export taxation;vegetable oil;public revenue;primary sector;credit line;export financing;external borrowing;market force;government effort;policy shift;simulation analysis;alternative hypothesis;technological change;industrial equipment;tariff protection;liberal policies;payment imbalances;trade deficit;inefficient industries;military industry;Research Support;agricultural machinery;national income;financial subsidy;food demand;industrial product;urban employment;Rural Sector

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Citation

Nogues, Julio J

The nature of Argentina's policy reforms during 1976-1981 (English). Staff working paper ; no. SWP 765 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/583361468769305930/The-nature-of-Argentinas-policy-reforms-during-1976-1981