The Argentina Paradox: Microexplanations and Macropuzzles
The economic history of Argentina presents one of the most dramatic examples of divergence in the modern era. What happened and why? This paper reviews the wide range of competing explanations in the literature and argues that, setting aside deeper social and political determinants, the various economic mechanisms in play defy the idea of a monocausal explanation.
Prepared for the conference "Exceptional Argentina" at Harvard University organized by Rafael Di Tella, Edward Glaeser, and Lucas Llach. I thank the organizers/editors, anonymous referees, and conference participants for useful comments and suggestions on this paper. All errors are mine. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.
Alan M. Taylor, 2018. "The Argentina Paradox: microexplanations and macropuzzles," Latin American Economic Review, vol 27(1). citation courtesy of