Changes in external constraint and recessionary dynamic since 2019

  • Adrián Piva
Keywords: Argentina; Internationalization; Capital acummulation; Crisis; External constrain


This paper has a double purpose. First, It is evaluated and conceptualized
the changes in the mode of operation of the external constraint to growth
in Argentina since 1976. It is concluded that the internationalization
of the Argentine economy since 1976 and particularly since 1989 transformed
the mode of operation of the external constraint and, as result,
modifyied the dynamics of the expansive and recessive phases. Secondly,
it is proposed to analyze the phase of stagnation and tendency towards
the crisis that the Argentine economy has been going through since 2012
in the light of these transformations. It is aimed that the recessive dynamic
is characterized by a context of global pressure to restructuring that
sterilizes the adjustment mechanism without restructuring by means of
devaluation and recession, characteristic of the recessive dynamics of the
‘50s and’ 60s, and the attempts to disconnect between the national market
and the world market.