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dc.contributor.author
Damill, Mario
dc.contributor.author
Frenkel, Roberto
dc.contributor.author
Simpson, Lucio
dc.date.available
2018-05-31T17:40:19Z
dc.date.issued
2016-08
dc.identifier.citation
Damill, Mario; Frenkel, Roberto; Simpson, Lucio; An unlikely Phoenix: The recovery of Argentina’s monetary and financial system from its ashes in the 2000s and its lessons
; Taylor & Francis; Journal Of Post Keynesian Economics; 39; 2; 8-2016; 228-255
dc.identifier.issn
0160-3477
dc.identifier.uri
http://hdl.handle.net/11336/46827
dc.description.abstract
The study discusses the recovery of the Argentine financial system after the crisis of the so called convertibility regime of the 1990s. The Argentine macroeconomic regime established in 1991 and based on the hard peg of the peso to the dollar at a 1 to 1 parity ended in a multiple crisis in 2001–2. Beyond the default on the public debt, the crisis also involved the breakdown of the domestic financial system, and an almost complete isolation of the country from the international financial markets as a consequence of the default. Under such a deep crisis and the consequent uncertainty, the recovery of the solvency of the financial institutions was an almost insurmountable enterprise. However, with a gradualist approach (contrary to the advice of the International Monetary Fund) and a degree of “regulatory forbearance,” the financial and monetary authorities were able to recover the health of the financial system, which became much more resilient to shocks, even if its development has been very slow and, as a consequence, the contribution of domestic credit to the economic expansion of the 2000s can be considered almost negligible.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
Taylor & Francis
dc.rights
info:eu-repo/semantics/openAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
Recovery
dc.subject
Financial System
dc.subject
Monetary System
dc.subject
Argentina
dc.subject.classification
Economía, Econometría
dc.subject.classification
Economía y Negocios
dc.subject.classification
CIENCIAS SOCIALES
dc.title
An unlikely Phoenix: The recovery of Argentina’s monetary and financial system from its ashes in the 2000s and its lessons
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2018-05-30T18:26:26Z
dc.journal.volume
39
dc.journal.number
2
dc.journal.pagination
228-255
dc.journal.pais
Estados Unidos
dc.description.fil
Fil: Damill, Mario. Centro de Estudios de Estado y Sociedad; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
dc.description.fil
Fil: Frenkel, Roberto. Centro de Estudios de Estado y Sociedad; Argentina
dc.description.fil
Fil: Simpson, Lucio. Centro de Estudios de Estado y Sociedad; Argentina
dc.journal.title
Journal Of Post Keynesian Economics
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/http://dx.doi.org/10.1080/01603477.2016.1155415
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://www.tandfonline.com/doi/abs/10.1080/01603477.2016.1155415
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