CLAE Working Paper No. 0401: Argentina's Lost Decade.

摘要

Argentina suffered a great depression in the 1980s that was as severe as the Great Depression experienced in the United States and Germany in the interwar period. Our paper examines this great depression from the perspective of growth theory, taking total factor productivity as exogenous. Overall, the predictions of the model are encouraging for the view that neoclassical growth theory can account for the main growth features of Argentina's lost decade and the subsequent recovery in the 1990s.