CEIL   02670
CENTRO DE ESTUDIOS E INVESTIGACIONES LABORALES
Unidad Ejecutora - UE
artículos
Título:
A note on Argentina, its crisis and the theory of exchange rate determination
Autor/es:
FÉLIZ, MARIANO
Revista:
Radical Review of Political Economy
Editorial:
Union for Radical Political Economics (Sage Publications)
Referencias:
Lugar: Nueva York (EE.UU.); Año: 2006 vol. 39
ISSN:
0486-6134
Resumen:
Argentina’s crisis at the end of the 20th century came as a surprise for most mainstream economists. Argentina, the IMF’s best student, turned from “a Latin-American miracle” to an unprecedented failure. This article looks into the crisis stressing the role of the exchange rate regime. I emphasize the over-valuation of the real exchange rate as a part of capital’s strategy to decompose labor and re-estructure capital-labor relations. I show that Argentina’s crisis was the result of the combination of capital’s strategic success (and not of its failure) and the re-composition of labor in the last years of the nineties.