1. A MODEL OF ECONOMIC STAGNATION-A CASE STUDY OF THE ARGENTINE ECONOMY.
- Author
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Braun, Oscar and Joy, Leonard
- Subjects
AGRICULTURE ,AGRICULTURAL industries ,AGRICULTURAL development ,ECONOMIC development ,ECONOMIC policy ,ARGENTINIAN economy ,TWENTIETH century - Abstract
THIS paper started out as a paper on the role of agriculture in the economic development of the Argentine. In effect, this is still what it is. But it is more, for to discuss the role of agriculture one needs to understand the nature of the development process of the economy as a whole. In seeking this broader understanding we have, to our minds, resolved the apparent paradox of inflation coupled with stagnation and heavy unemployment that has characterised the recent history of the Argentine economy. In doing so, we believe that we reveal previous diagnoses and policy prescriptions to have been grounded in fallacy. We have tried to build a model in which the strategic assumptions covering the choice of relevant variables and their magnitudes reflect the realities of the Argentinian situation. This we set out in Section II. In Sections III and IV we set the model to work introducing some additional assumptions, in particular as to government policies and money wage changes. Section V contains a commentary on the devaluations of 1958 and 1962 analysed in the light of the model. Our analysis has policy implications, which we discuss in Section VI. [ABSTRACT FROM AUTHOR]
- Published
- 1968
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