Balance of paymemts constraint in Argentine economic development : a new economic cycle driven by commodities?
La restricción de balanza de pagos en el desarrollo económico argentino : ¿hacia un nuevo ciclo ligado a las materias primas?
PublisherUniversidad de Huelva
AbstractThis paper analyses the balance of payments constraint in the Argentine economy in the period 2002-2011. Cointegration techniques are employed to estimate Thirlwall´s (1979) model. We analyse the roles of both the total and commodities exports. Therefore, the aim of the paper is to analyse the Argentine external vulnerability during the post-Convertibility period when commodity prices played an important role in accelerating Argentine exports. The results show that the external restriction to growth from the balance of payments position has relaxed, permitting high economic growth rates since 2002, with commodities playing a central role in this process.
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