Elusive Quest for Growth in Argentina

DANIEL CHUDNOVSKY is Professor of Economic Development, University of San Andres, Columbia and Director, Centro de Investigaciones para la Transformacion (CENIT).ANDRES LOPEZ is Associate Professor of Development Economics, University of Buenos Aires, Argentina, and Principal Researcher, Centro de Investigaciones para la Transformacion (CENIT).

"This brilliant book by Chudnovsky and Lopezbrings together their decades-long and careful study of the Argentine economy in the Post-War period. This is one of the finest books available on Argentina, co-authored by two of the best economists of that country." - Jorge Niosi, Professor of Management Science, Universite du Quebec a Montreal "This is more than an excellent introduction to disappointing Argentine economic development over the last half century. The volume also confronts alternative explanations for lack of growth, thereby developing a more comprehensive view where industrial structure, technology, and institutions all enter. It merits attention." - Albert Fishlow, Professor of International Affairs and Director, Center for Brazilian Studies, Columbia University "Through detailed, rigorous, and scholarly analysis, the authors make insightful contributions to the literature on Argentina's economy and the broader understanding of the development process." - Kevin P. Gallagher, Assistant Professor of International Relations, Boston University "Most analyses of the Argentine economy focus on the role of macroeconomics and political instability in determining the poor performance of the country. Without ignoring the role of these factors, Chudnovsky and Lopez present an insightful analysis on the role ofproduction sectorrestructuring and the associatedmicroeconomicfactors in the dynamics of the two major growth spurts that Argentinaexperienced over the past four decades, and why they proved unsustainable.Readers will find the analysis quite stimulating." - Jose Antonio Ocampo, United Nations Under-Secretary-General for Economic and Social Affairs "This sweeping, highly readable explores the factors that have made Argentina incapable of sustaining its economic growth, compared to Brazil and Mexico and countries in East Asia... Recommended." - CHOICE

• The Changing Development Thinking PART I: ECONOMIC AND INDUSTRIAL GROWTH IN ARGENTINA: DETERMINANTS AND POLICIES Key Features of the Economic, Development, and Political Evolution An Account of Productivity Evolution Determinants of Growth in 1962 - 1974 Determinants of Growth in 1975 - 2000 The Crisis in 2001 - 2002 PART II: THE PERFORMANCE OF ARGENTINE MANUFACTURING FIRMS UNDER THE CONVERTIBILITY LAW Innovation and Productivity Foreign Direct Investment Spillovers and the Absorption Capabilities of Domestic Firms Environmental Management and Innovation Activities Overview and Policy Implications