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Federal Reserve Bank of Dallas
Working Papers
Argentina's recovery and "excess" capital shallowing of the 1990s
Finn E. Kydland
Carlos E. Zarazaga
Abstract

The paper examines Argentina’s economic expansion in the 1990s through the lens of a parsimonious neoclassical growth model. The main finding is that investment remained considerably weaker than what the model would have predicted. The resulting excessive “capital shallowing” could be identified as a weakness of the rapid economic growth of the 1990s that may have played a role in Argentina’s ultimate inability to escape the crisis that started to unfold towards the end of that decade.


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Finn E. Kydland & Carlos E. Zarazaga, Argentina's recovery and "excess" capital shallowing of the 1990s, Federal Reserve Bank of Dallas, Working Papers 0204, 30 Sep 2002.
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Note: Published as: Kydland, Finn E. and Carlos E.J.M. Zarazaga (2002), "Argentina's Recovery and "Excess" Capital Shallowing of the 1990s," Estudios de Economia 29 (1): 35-45.
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Subject headings:
Keywords: Argentina; depression; growth model
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