Search results

RESUMO Este artigo analisa a evolução recente do sistema monetário e financeiro da economia argentina, particularmente a partir da implantação do "Plano Austral", em 15 de junho de 1985. O sistema financeiro é apresentado sob uma perspectiva de longo prazo, como resultado da duas reformas financeiras (1977 e 1982) cujas principais características determinaram a atual situação de fragilidade. O sistema monetário é analisado através do comportamento das principais agregações monetárias observando particularmente o caso da evolução dos diferentes tipos de ativos nas mãos das pessoas. Segundo o autor, o impacto inicial do plano de estabilização ("Plano Austral") teve dois elementos que se destacaram: o aumento da demanda por recursos monetários e a redução do déficit fiscal.

This paper analyzes the recent evolution of the monetary and financial system of Argentine economy, particularly from the implementation of Plano Austral, June 15, 1985. According to the author, the initial impact of the stabilization plan had two elements that were emphasized: the increasing of demand for monetary resources, and the reduction of the fiscal deficit

This paper examines the macroeconomic policies and outcomes experienced by the Latin American economies during the period 1990-2010. Macroeconomic policies refer to exchange rates, monetary and aggregate fiscal policies, while macroeconomic outcomes, on the other hand, refer to the patterns of growth, inflation, employment, investment, balance of payments, and the evolution of external and public debts and international reserves. The analysis includes a discussion of the effects of macroeconomic outcomes on poverty rates. With regard to policy, the study examines the changes that took place in 1997-98, and then reviews the resulting new macroeconomic configuration that was established in 2002-03. This new configuration favoured the acceleration of output growth and employment creation, and contributed to reducing poverty rates.

Argentina's experience in recent decades as regards employment generation and wages has been very disappointing, and has had clear consequences for income distribution and other social indicators. This study examines the evolution of the labour market, with special emphasis on the 1990s, and also addresses the notable changes that have been taking place in recent years after the crisis of the convertibility regime. In general terms, it finds that the evolution observed in the labour market and income distribution is very closely linked with macroeconomic performance, both in previous phases and in the recent recovery stage. It examines in particular the negative effects of the experiences of trade openness and exchange rate appreciation in the late 1970s and the 1990s, which are in stark contrast with the present situation, especially in terms of employment generation. (CEPAL Rev/GIGA)