Exceptional Argentina Di Tella, Glaeser and Llach - Thomas Piketty

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della Paolera, Gerardo. 1988. “How the Argentine Economy Performed during the International Gold Standard: A Reexamination.” Ph.D. diss., University of Chicago. della Paolera, Gerardo and Ezequiel Gallo. 2003. “Epilogue: The Argentine Puzzle” in A New Economic History of Argentina, ed. Gerardo della Paolera and Alan Taylor. Cambridge, UK: Cambridge University Press. della Paolera, Gerardo and Alan M. Taylor. 1999. “Economic Recovery from the Argentine Great Depression: Institutions, Expectations, and the Change of Macroeconomic Regime.” Journal of Economic History, 59 (September): 567–99. della Paolera, Gerardo and Alan M. Taylor. 2002. “Internal Versus External Convertibility and Emerging-Market Crises: Lessons from Argentine History.” Explorations in Economic History 39, (October): 357–89. della Paolera, Gerardo and Alan M. Taylor. 2001. Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability 1880-1935. Chicago: The University of Chicago Press. De Long, Bradford and Lawrence Summers. 1991. “Equipment Investment and Economic Growth.” Quarterly Journal of Economics, 106 (May): 445-502. Díaz Alejandro, Carlos. 1970. Essays on the Economic History of the Argentine Republic. New Haven: Yale University Press. Díaz Alejandro, Carlos. 1988. “No Less than One Hundred Years of Argentine Economic History Plus Some Comparisons.” In Trade, Development, and the World Economy: Selected Essays of Carlos Diaz-Alejandro, ed. Andres Velasco. Oxford: Basil Blackwell. Diewert E., J. Greenlees and C. Hulten. 2009. “Price Index Concepts and Measurement.” NBER Book Series Studies in Income and Wealth, N. diew08-1. DiPasquale, Denise and Edward L. Glaeser. 1997. “Incentives and Social Capital: Are Homeowners Better Citizens?” Harvard Institute of Economic Research Working Papers 1815, Harvard-Institute of Economic Research. Di Tella, G. 1987. “Argentina’s Most Recent Inflationary Cycle, 1975–1987.” in Latin American Debt and the Adjustment Crisis, ed. R. Thorp and L. Whitehead. Pittsburgh: University of Pittsburgh Press: 162–207. Di Tella, G. and R. Dornbusch. 1983. The Political Economy of Argentina 1946–1983. Pittsburgh: University of Pittsburgh Press. Di Tella, Guido and Manuel Zymelman. 1969. Las etapas del desarrollo económico argentino, EUDEBA. Di Tella, Rafael and Juan Dubra. 2009. “Anger and Regulation.” NBER Working Paper No. 15201, NBER, Cambridge, MA.
Di Tella, Rafael, Juan Dubra and Robert MacCulloch. 2010. “A Resource Belief Curse? Oil and Individualism.” in The Natural Resources Trap: Private Investment without Public Commitment, ed. William Hogan and Federico Sturzenegger, chapter 4. Cambridge: MIT Press. Di Tella, Rafael and Robert MacCulloch. 2009. “Why Doesn’t Capitalism Flow to Poor Countries?” Brookings Papers on Economic Activity, Spring, 285-321. Di Tella, Rafael and Ernesto Schargrodsky. 2003. “The Role of Wages and Auditing during a Crackdown on Corruption in the City of Buenos Aires.” Journal of Law & Economics, 46(1): 269-92. Di Tella, Torcuato. 2003. Perón y los Sindicatos. Buenos Aires: Ariel Historia. Di Tella, Guido and Manuel Zymelman. 1967. Las Etapas del Desarrollo Económico Argentino. Buenos Aires: Editorial Universitaria de Buenos Aires. Di Tella, G. and Manuel Zymelman. 1973. Los ciclos económicos Argentinos. Buenos Aires: Paidós. Easterly, William and Ross Levine. 2001. “What have we learned from a decade of empirical research on growth? It's Not Factor Accumulation: Stylized Facts and Growth Models.” World Bank Economic Review 15(2): 177-219. Easterly, William, and Ross Levine. 2003. “Tropics, germs, and crops: how endowments influence economic development.” Journal of Monetary Economics, 50: 3–39. ECLAC. 1951. “Economic Survey of Latin America 1949.” United Nations, New York, Department of Economic Affairs. Ekboir, J. 2003. “Adoption of Non-till by Small Farmers. Understanding the Generation of Complex Technologies.” In Conservation Agriculture: Environment, Farmers Experiences, Innovations, Socio-Economy, Policy, ed. L. García-Torres, et al. Springer. Engerman, Stanley L., Stephen Haber and Kenneth L. Sokoloff. 2000. “Inequality, Institutions, and Differential Paths of Growth Among New World Economies.” in Institutions, Contracts and Organizations, ed. Claude Menard. Cheltenham: Edward Elgar. Engerman, Stanley L. and Kenneth L. Sokoloff. 2000. “History Lessons: Institutions, Factor Endowments, and Paths of Development in the New World.” Journal of Economic Perspectives, 14(3): 217-232. Engerman, Stanley L. and Kenneth L. Sokoloff. 1997. “Factor Endowments, Institutions, and Differential Paths of Growth Among New World Economies: A View from Economic Historians of the United States.” In How Latin America Fell Behind, ed. Stephen Haber. Stanford, CA.: Stanford University Press.
Page 1 and 2:
Exceptional Argentina Di Tella, Gla
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A third explanation of Argentina’
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Maddison's "Western Offshoots" by l
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A final point on this mechanistic a
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GDP in 1900 at 12,100 (in constant
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nationalized railways and banks, to
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country interacted with initial con
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1900. As there is an extremely stro
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Between the 1940s and 1970s income
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particularly in terms of food consu
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Even before the 2001 crisis, Argent
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Scandinavia and Northern Europe the
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Figure 4. A modified Human Developm
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Figure 6. Per capita GDP across Arg
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production 15 . Moreover, beyond st
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Figure 10. Average weight of export
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etween the prewar export-led growth
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which was wholly bound to local dem
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protectionism", certainly stronger
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agricultural pastures and cropland
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far. Argentina's differential popul
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Appendix Figure A. 1. Argentina's r
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Peru 35 38 25 34 34 34 32 29 26 27
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Like the Llach paper, the Campante
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I. Introduction Both Buenos Aires a
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across the ocean. Over the course o
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Buenos Aires’ hinterland rose dra
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significantly greater education lev
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Why is there such a difference in l
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illion dollars today). Each Chicago
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Chicago also appears to have been a
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casualties. Roca secured the presid
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capital to St. Petersburg he was pr
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and the logarithm of per capita GDP
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Moreover, years of schooling today
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y its overwhelming political import
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200 Figure 2a: Annual Wage Data 187
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Figure 3: Real Monthly Wages in Chi
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Log GDP per capita 2000 5 6 7 8 9 1
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Figure 7 Log GDP per capita 2000 7
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Table 2: Top 5 Industries in Chicag
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Table 4: 19th Century Variables and
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A simple calculation suggests that
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toy model with a minimum of paramet
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were lifted, but import taxes remai
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to compute that the MPK term above
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versus foreigners, on most occasion
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X institutions policies income p
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series variation. The coincidence o
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Figure 1—The Great Divergence and
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Figure 3—Trade taxes
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Transition Remarks The previous ess
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CHAPTER FOUR Argentine Trade Polici
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Argentine comparative advantage lie
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thousands of product lines in Argen
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Japan). Third, the agricultural pro
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different preferences over trade pr
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two nomenclatures had to be manuall
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esult, soybeans were finally adopte
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Figure 1 Trade Openness Exports + I
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Figure 5 Relative Sectoral Protecti
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Figure 7 Average Export Taxes 0 10
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Figure 9 Average Export Taxes at 2-
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Figure 11 Evolution of Argentine Ag
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Figure 13 Yields in Agriculture: Wh
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Table 2 Livestock per Capita 1895 C
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Table 5 Mean Share of Exports (Impo
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Table 7 Tariff Statistics for perio
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Table 9 Evolution of Industrial Pro
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CHAPTER FIVE Path-Dependent Import-
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actors, and they were demanding pro
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the primary sector, using land and
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Figure 1: The Long Run: Four Region
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Finally, in the reversal of pattern
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Figure 3: Medium Run Preferences ov
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sector to give rise to a protection
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technological improvements or incre
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Argentina did relatively well when
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World War, a second globalization e
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Argentine primary sector and ensure
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Clearly, world market conditions we
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for the years to come. The most imp
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governments zigzagged in their poli
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public spending on infrastructure s
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understand the rise of the urban-ru
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To sum up, by the beginning of the
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has a comparative advantage in the
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L λ = m L K κ = m K That is, λ i
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K c a = 1− α 1−α T A ( κ )
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Given a set of parameters ϒ , φ a
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consumption of good i. For any agen
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Proposition 3 In the short run, pro
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ρ 1/ 1 ρ ρ 1 ( ξ ξ ) 1 TT K ,
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Up to 2008, the FPV government had
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negative correlation between the pr
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policies would, supposedly, eviscer
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I. Introduction In a seminal study,
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terms, Peronist beliefs in the 1990
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Several authors have emphasized the
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foreign capital and trade as the gl
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of already available information. A
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having the need to do more than wak
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Argentines (who implement these pol
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opinion about elements of capitalis
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intense (the proportion is under 1.
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involved in social ordering that wi
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cost of the deviating firm, since w
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Admissible Region Bounds on w b Nex
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The previous proposition may be par
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and note that Peron insists on the
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Appendix 2: Definitions of Variable
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Table II: The Beliefs of Peronists
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Transition Remarks The previous cha
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CHAPTER SEVEN A Short Episodic Hist
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the income distribution between 193
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empirical evidence and on existing
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of commodities. The country was off
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accounts increased by 8% between 19
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Argentina in 1942 (4.1%) is not ver
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This change in inequality is also r
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1982, when Mexico’s default on it
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1995. While growth bounced back qui
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The main characteristics of this ep
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skilled workers that more than offs
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Household Expenditure Survey. An in
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The relationship between internatio
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machinery and equipment can acceler
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occurred not only in production tec
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a relative abundance of rents to sh
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even when the number of well-off in
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and similar patterns emerge when co
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This chapter described the level an
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Transition Remarks Economic success
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CHAPTER EIGHT Why do Argentines tru
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in the 1970s and 1980s. Despite the
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Figure 5. Percentage of the populat
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analysis of the Argentinean and Chi
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observationally equivalent individu
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the low rank policeman. 13 4. The C
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Figure 7. Share of people having a
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6. Why did the Argentinean Police d
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instability, σ, a worried leader h
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the deeper question of why the Arge
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Table 2. Comparative facts for cano
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of formal education, whereas in the
Page 291 and 292: only bargaining tool to get money.
Page 293 and 294: Table 6. Tierra del Fuego Subinspec
Page 295 and 296: 4. Police deaths during the 20th ce
Page 297 and 298: Of course, these conclusions depend
Page 299 and 300: “stop go” dynamics 4 ). In fact
Page 301 and 302: income distribution and earnings gr
Page 303 and 304: Figure 2. Basic Statistics Food Clo
Page 305 and 306: Table 2 Dep. Var.: Share of food Sm
Page 307 and 308: Figure 3. Variety in food retailing
Page 309 and 310: Table 3 Dep. Var.: Share of food at
Page 311 and 312: 3.3 Income distribution effects The
Page 313 and 314: Figure 6. Individual Effects Using
Page 315 and 316: Expenditure Income 5000 6000 4000 4
Page 317 and 318: Figure 10. Income distribution Dens
Page 319 and 320: Appendix A: Estimation strategy Est
Page 321 and 322: w ijt where [ ln( 1+ ∏ ) − ln(
Page 323 and 324: 2.2 Income distribution effects Fol
Page 325 and 326: Appendix B: The data To run our est
Page 327 and 328: Appendix C: Additional tables C1: B
Page 329 and 330: C3: Table 3 coefficients Dummy for
Page 331 and 332: CONCLUSION 20 th century Argentina
Page 333 and 334: can be harbingers of worse things t
Page 335 and 336: Ahumada, Hildegart, Alfredo Canaves
Page 337 and 338: Barro, Robert J. 2005. “Rare Even
Page 339 and 340: Burzaco, Eugenio et al. 2004. “Ma
Page 341: Cortés Conde, Roberto and María M
Page 345 and 346: Gaggero, Horacio and Alicia Garro.
Page 347 and 348: Gerchunoff, Pablo, Fernando Rocchi
Page 349 and 350: James, Daniel. 1988. “October 17
Page 351 and 352: Maddison, Angus. 2006. The World Ec
Page 353 and 354: Piketty, T. 2003. “Income Inequal
Page 355 and 356: Spiller, Pablo and Mariano Tommasi.
Page 357: Williamson, Jeffrey G. 1995. “The
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