Argentina's Recovery and 'Excess' Capital Shallowing of the 1990s

摘要

The paper examines Argentina's economic expansion in the 1990s through the lens of a parsimonious neoclassical growth model. The main finding is that investment remained considerably weaker than what the model would have predicted. The resulting excessive 'capital shallowing' could be identified as a weakness of the rapid economic growth of the 1990s that may have played a role in Argentina's ultimate inability to escape the crisis that started to unfold towards the end of that decade.