|
According
to this paper, the severity of Argentina's
economic crisis following the capital
flow reversal of the late nineties is
explained by the interplay of two structural
weaknesses of the economy viz., the quite
closed nature of the economy to international
trade and the extreme portfolio dollarization
of its domestic agents, both of which
came about due to the country's premature
and outright financial liberalization.
These characteristics also meant that
it was unfeasible to achieve the large
real exchange rate depreciation required
for adjustment, without causing a distressing
effect on the economy.
MORE
ON ARGENTINA CRISIS
August 12, 2003. |
|
|
|
This Document is in Adobe
Acrobat format and would
need a PDF reader to
view it. |
|
 |
View/
Download the
full text in PDF format |
|
if
you have problem
opening the file, right click
on hyperlink and select "SaveTarget
as" to save
the file on your hard drive. |
|
Size:
142 Kb
App. Download Time:
02 min @ 28kbps |
|
|
| |
|
Click below
to get Adobe
Acrobat Reader, a free software
to view and print Adobe Portable
Document Format (PDF) files. |
|
 |
|
|
|
| |
|