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Essay

Argentina, an Economic Overview

Essay specific features

 

Issue:

Business

 

Written by:

James M

 

Date added:

May 13, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 911

 

Was viewed:

4146 times

 

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Essay content:

Subsequently, Argentina became one of the world 10?¦ wealthiest nations based on rapid expansion of agriculture and foreign investment in infrastructure. In 1992 president Menem imposed peso-dollar parity to decrease the hyperinflation, adopt far-reaching market-based policies and dismantling a web of protectionist trade and business regulations, and implement an ambitious privatization program...
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These reforms contributed to significant increases in investment and growth with stable prices through most of the 1990s. Unfortunately, extensive corruption in the administrations of President Menem and President Fernando De la Rua (elected in 1999) shook confidence and destabilized the recovery. Also, while convertibility crushed inflation, its permanence damaged Argentina's export competitiveness and created chronic deficits in the current account of the balance of payments, which were financed by massive borrowing...
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