The Argentinian economic crisis of 2018: background and interpretation

Vol. 43 No. 2 (2023)

Apr-Jun / 2023
Published May 10, 2023
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Horn, Carlos Henrique, Luiza Pecis Valenti, and Ben-Hur dos Santos Petry. 2023. “The Argentinian Economic Crisis of 2018: Background and Interpretation”. Brazilian Journal of Political Economy 43 (2):335-57. https://doi.org/10.1590/0101-31572023-3398.
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The Argentinian economic crisis of 2018: background and interpretation

Carlos Henrique Horn
Professor da Faculdade de Ciências Econômicas da UFRGS, Porto Alegre/RS, Brasil.
Luiza Pecis Valenti
Professora da Faculdade de Ciências Econômicas da UFRGS, Porto Alegre/RS, Brasil.
Ben-Hur dos Santos Petry
Economista, Mestrando em Economia do PPGE-UFRGS, Porto Alegre/RS, Brasil.
Brazilian Journal of Political Economy, Vol. 43 No. 2 (2023), Apr-Jun / 2023, Pages 335-357

Abstract

This paper deals with the Argentinian economic crisis of 2018. We argue that
the crisis was brought about by the process of financial fragility directly related to the
choice of economic policy made by the Macri government. That fragility came to manifest
in a moment of reversal in the external scenario in 2018. In our analysis, we have gathered
evidence on the macroeconomic performance of Argentina to present an interpretation
based on the concepts of asymmetry of power in the monetary and financial international
system, external vulnerability, and sudden stop crisis.

JEL Classification: E32; G01; H12.


Keywords: Argentinean economy Macri government exchange rate crises external vulnerability sudden stop crisis