From Neoliberalism to Neo-developmentalism in Argentina (2002-2007)

• In Event: Repercussions of Economic Booms and Crises

Abstract

This paper examines to what extent policy responses to the financial crisis of 2001/2002 constitute a coherent shift from neoliberalism to a neo-developmentalism in Argentina between 2002 and 2007.The post-crisis political economy of Argentina was conceptualized as part of a wider trend in Latin America as the region saw a resurgence of the Left-wing governments.In the past decade, this prompted a debate about a return to local ideas of developmentalism and the state`s centrality in economic management and welfare in the region. Argentina`s post-crisis political economy was framed as “neo-desarrollismo” (Grugel and Riggirozzi, 2007), “open-economy nationalism” (Riggirozzi, 2009), “developmental regime” (Wylde, 2012).

Using the framework of “new developmentalism” labelled by Bresser-Pereira in 2003, I argue that neo-developmentalism in Argentina embodies a more hybrid and complex process that maintained core elements of economic liberalism. This paper suggests that Argentina`s post-crisis political economy should be understood in the form of evolving balances between states and markets under a globalised market activity which has changed the costs and benefits of integration into the global economy.

Author

• Hilal Gezmis