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The paper develops a model in which the relation between the real exchange rate and the real wage, in the context of conflictive income distribution, is made explicit. It is noted that the central bank tries to regulate the distributive relation exchange rate and real wages through the changes in the interest rate. The theoretical point is that, under certain circumstances, a relatively depreciated or high level of the real exchange rate might reduce real wages and have a negative impact on economic growth. The paper also provides some evidence for the Argentine case, and suggests that the Classical Developmentalist elasticity pessimism seems, in the case of Argentina, to be validated. Also, the use of the exchange rate as an instrument to bolster redistribution away from the working class, and to promote investment and growth is also not born in the data. [ABSTRACT FROM AUTHOR]

Energy policy, like any other public policy, requires the powers of the government to devise precise and coordinated provisions to efficiently manage a strategic sector. Every country adopts its own energy policy based on factors like resource endowment, macroeconomic policy, the regulatory framework, and its own vision of the relationship between the state and market in a given field, to name a few factors. This paper analyzes energy policy in twenty-first century Argentina, considering its most notable peculiarities, how it has changed and remained the same, and the principal challenges looming ahead. [ABSTRACT FROM AUTHOR]

The goal of this article is to emphasize the counter-cyclical nature of public commercial banking. This study will provide a historical analysis of the banking crises in Argentina and Uruguay at the beginning of the twenty-first century. In Argentina, this type of bank encompassed a variety of crucial actors involved in policies that successfully resolved the crisis and led to financial restructuring. In Uruguay, public commercial banking had a lesser role during the crisis resolution phase, but played a fundamental part in minimizing financial system risks that had contributed to the 2002 crisis. [ABSTRACT FROM AUTHOR]

After the collapse of its Convertibility regime, Argentina registered average growth rates on the order of 8% year-on-year for the period 2002-2009, generating more than four million jobs. In this process, one of the key participants has been the country's business leadership which has consolidated its determining role within the local process of capital accumulation. Within this framework, the aim of the present study is to analyze, on the one hand, the main characteristics of Argentina's business leaders in the post-Convertibility period and given the relevance this sector has acquired in the present recovery, the most salient elements of the industrial leaders. On the other hand, it examines to what extent the role performed by these large companies has favored the country's economic development by studying its influence in generating value, employment, and their impact on income distribution. [ABSTRACT FROM AUTHOR]

The paper examines the relationship between the performance of Latin American stock markets with their real economies, applying seven econometric models for the cases of Argentina, Brazil, Chile and Mexico. The relationship between stock market yields in these countries and their respective GDPS is examined and compared, applying to the series for each country unit root tests, cointegration analysis, error correction model analysis, Granger causality modeling, self-regression vector analysis, stimulus and response functions, and variance decomposition analysis. The series comprise the following stock markets: Argentina's MERVAL, Brazil's BOVESPA, Chile's IGPA, and Mexico's IPC, as compiled by Economática. The GDP series were obtained from the Cepalstat data base. The series are monthly and are for the period 1993-2005. [ABSTRACT FROM AUTHOR]

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Copyright of Análise is the property of EDIPUCRS - Editora Universitaria da PUCRS and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Starting from the profound transformations in the Argentine economy in recent years, this paper analyzes the evolution of trade specialization patterns, due to their effects on the long-term sustainability of economic growth and income distribution. This shows that, although a strong expansion in exports has been seen recently, the pattern of trade specialization continues to reflect a concentrated profile of primary goods and manufactures with low-level technology and job content. In other words, there has still been no structural transformation in the competitiveness of sectors unassociated with natural resources, compared with those that make abundant use of them. However, this phenomenon is taking place in a context where important modifications are occurring in the distribution of trade balances with different partners, where China is starting to acquire an important role. At the same time, the study points to the relationship between these modifications and the evolution of the pattern of specialization. [ABSTRACT FROM AUTHOR]