Nicolini-Llosa, Jose Luis - In: International Review of Applied Economics 25 (2011) 2, pp. 185-207
Argentina's GDP growth cycle, tracing the high exchange rate volatility in 1970-2008, is discussed. Growth depends on … - destabilising the market exchange rate. Thus, two unstable growth equilibria coexist generating GDP fluctuations. Currency … cycle, harming institutions and decelerating growth. A land tax to finance rural investment would facilitate a high and …