Иностранные языки : Аргентина (english) - (реферат)

Аргентина (english) - (реферат)

Дата добавления: март 2006г.

    ARGENTINA

Argentina has experienced slow economic growth since the 1940s. By the mid-1970s long-term growth declined noticeably, and in the last half of the 1980s the country suffered its longest period of stagnation in the century. Savings and investment rates fell precipitously from the mid-1970s until 1989. Argentines, responding to the unstable macroeconomic environment, increasingly saved and invested abroad. Labor productivity fell and poverty worsened. This economic performance was tranceable to chronic public sector deficits and endemic inflation. Public sector deficits in the late 1970s ranged from 10 to 14 percent of GDP, and in the early 1980s surpassed IS percent of GDP. After the return to constitutional democracy in 1983, public demands to control inflation were translated into four successive stabilization programs. All failed to eradicate inflation, and each ended in a more virulent inflation than the one preceding it. The main reason for these failures was the inability of the stabilization programs to redress rapidly and permanently the public sector structural deficit. Structural deficits emerged from the post-war organization of the economy. Economic policy from the 1940s was used to propagate rules and transfers favoring the interests of private groups with access to power. By the early 1980s public expenditures approached 40 percent of GDP. Unionized labor benefitted from high wages, guaranteed employment, and rigid rules governing hiring and dismissals. Industry benefitted from highly protected markets, tax exemptions through special promotion regimes, subsidized credit-or effective grants, as many loans wer