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AbstractThe paper proposes an interpretation of the «Argentine failure» based on development accounting and econometrical approaches frequently used in the current cross-country income differentials literature. The main results are as follows: the development process of Canada — in term ofper capitaGDP –– moved away from that of Argentina around 1918, but there was a structural change in the determinants of aggregate productivity around 1935 that led Argentina to take a diverging path. Recovery — thanks to improved aggregate productivity –– was not possible after 1940. The results support the idea that Argentina fell into a «staple trap», while Canada embarked on a successful path due to the adjacency and political proximity with a larger and complementary economy.

The paper proposes an interpretation of the «Argentine failure» based on development accounting and econometrical approaches frequently used in the current cross-country income differentials literature. The main results are as follows: the development process of Canada — in term of per capita GDP –– moved away from that of Argentina around 1918, but there was a structural change in the determinants of aggregate productivity around 1935 that led Argentina to take a diverging path. Recovery — thanks to improved aggregate productivity –– was not possible after 1940. The results support the idea that Argentina fell into a «staple trap», while Canada embarked on a successful path due to the adjacency and political proximity with a larger and complementary economy. ; El artículo ofrece una interpretación al «Fracaso Argentino» basado en el enfoque de contabilidad del desarrollo y la econometría, frecuentemente utilizados en la literatura actual que explica los diferenciales en el ingreso per capita. El proceso de desarrollo canadiense se alejó del argentino alrededor de 1918. Sin embargo, estas economías experimentaron un cambio estructural en los determinantes de la productividad agregada alrededor de 1935 que llevó a que también sean divergentes en términos tecnológicos. A partir de 1940, la recuperación argentina no fue posible. Se ofrece soporte técnico a la idea que sostiene que Argentina cayó en una «staple trap», mientras Canadá ingresó en un sendero exitoso debido a su adyacencia y proximidad política con una economía mayor y complementaria.