Economic history of Argentina
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Beginning in the 1930s, however, the Argentine economy deteriorated notably.
The economic history of Argentina is one of the most studied, owing to the "Argentine paradox", its unique condition as a country that had achieved advanced development in the early 20th century but experienced a reversal, which inspired an enormous wealth of literature and diverse analysis on the causes of this decline.[1] Since independence from Spain in 1816, the country has defaulted on its debt eight times[2] and inflation has often been in the double digits, even as high as 5000%, resulting in several large currency devaluations.
Argentina possesses definite comparative advantages in agriculture, as the country is endowed with a vast amount of highly fertile land.[3] Between 1860 and 1930, exploitation of the rich land of the pampas strongly pushed economic growth.[4] During the first three decades of the 20th century, Argentina outgrew Canada and Australia in population, total income, and per capita income.[4] By 1913, Argentina was the world's 10th wealthiest state per capita.[5]
Beginning in the 1930s, however, the Argentine economy deteriorated notably.[4] The single most important factor in this decline has been political instability since 1930, when a military junta took power, ending seven decades of civilian constitutional government.[6] In macroeconomic terms, Argentina was one of the most stable and conservative countries until the Great Depression, after which it turned into one of the most unstable.[7] Despite this, up until 1962 the Argentine per capita GDP was higher than that of Austria, Italy, Japan and of its former colonial master, Spain.[8] Successive governments from the 1930s to the 1970s pursued a strategy of import substitution to achieve industrial self-sufficiency, but the government's encouragement of industrial growth diverted investment from agricultural production, which fell dramatical
https://en.wikipedia.org/wiki/Economic_history_of_Argentina
..
Beginning in the 1930s, however, the Argentine economy deteriorated notably.
The economic history of Argentina is one of the most studied, owing to the "Argentine paradox", its unique condition as a country that had achieved advanced development in the early 20th century but experienced a reversal, which inspired an enormous wealth of literature and diverse analysis on the causes of this decline.[1] Since independence from Spain in 1816, the country has defaulted on its debt eight times[2] and inflation has often been in the double digits, even as high as 5000%, resulting in several large currency devaluations.
Argentina possesses definite comparative advantages in agriculture, as the country is endowed with a vast amount of highly fertile land.[3] Between 1860 and 1930, exploitation of the rich land of the pampas strongly pushed economic growth.[4] During the first three decades of the 20th century, Argentina outgrew Canada and Australia in population, total income, and per capita income.[4] By 1913, Argentina was the world's 10th wealthiest state per capita.[5]
Beginning in the 1930s, however, the Argentine economy deteriorated notably.[4] The single most important factor in this decline has been political instability since 1930, when a military junta took power, ending seven decades of civilian constitutional government.[6] In macroeconomic terms, Argentina was one of the most stable and conservative countries until the Great Depression, after which it turned into one of the most unstable.[7] Despite this, up until 1962 the Argentine per capita GDP was higher than that of Austria, Italy, Japan and of its former colonial master, Spain.[8] Successive governments from the 1930s to the 1970s pursued a strategy of import substitution to achieve industrial self-sufficiency, but the government's encouragement of industrial growth diverted investment from agricultural production, which fell dramatical
https://en.wikipedia.org/wiki/Economic_history_of_Argentina
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