The Development Trajectory of the Argentine Economy Since 1976: An Ayresian Perspective

摘要

The Argentine political economy has experienced a number of adverse developments, especially during the last three decades. We analyze the country's development trajectory with the help of a framework based on the writings of C. E. Ayres. This framework integrates the cumulative nature of technological progress and the ceremonial-instrumental dichotomy in the nature of institutions. An improved understanding of the causes as well as consequences of the development process is gained as we can identify more clearly how agents' decisions led to a weakening of the skill-and equipment-base in the country, significantly weakening its economic potential.