The growth of Argentina’s economy in the late nineteenth and early twentieth century was so great that it was called “The Great Expansion”. This explains the interest of economic historians to observe, analyze and explain the conditions under which such growth occurred. One of the topics is the 1890 crisis, or “Baring Crisis”. This was seen by contemporaries as the worst economic debacle of the nineteenth century. Studies in economic history have seen this crisis both their macroeconomic aspects, and from the impact that would have occurred in the population. Also, in recent years there has been a renewed interest in the production and analysis of series of prices and wages, as key to analyzing economic indicators economy conditions and living conditions and inequality. Given this historiographical renewal, in this article a new series of prices and wages of Buenos Aires in the late nineteenth century are presented. With this new information, and open discussion with previous works, a new perspective on the evolution of prices and wages is provided, with a different perspective on the impact of the 1890 crisis.
Desde la llegada del peronismo al poder en 1943, la segunda mitad del siglo XX fue testigo de la alternancia entre políticas económicas ortodoxas y heterodoxas. Este trabajo se apoya en la propuesta de que entre 1943 y 1975 existió un fuerte consenso en la sociedad civil y política acerca de los beneficios del mercadointernismo (políticas heterodoxas que privilegian la industrialización con base a la demanda interna), y que entre 1976 y 2001 el consenso privilegió la apertura económica (políticas ortodoxas, de liberación de la economía y apertura al mercado mundial). Siguiendo esta interpretación, se podría explicar el período siguiente (iniciado con la crisis de 2001) como mercado internista. Teniendo en cuenta lo anterior, tanto las políticas ortodoxas como las heterodoxas influyeron en el nivel de los salarios reales y, al mismo tiempo, implicaron modificaciones en los diferenciales por capacitación (Skill Premium).
ABSTRACTThe outbreak of the First World War had a strong impact on Latin American economies, due to the sharp interruption of the influx of capital and the deep disturbances that it caused in international trade. In the Argentine case, a notable aspect was, together with the increase in the fiscal deficit, the growing trade and payment balance surplus. Public indebtedness was reoriented towards the domestic market by the means of a state bank Banco de la Nación, and this institution also granted a large loan to the governments of England and France, to finance the export of cereals to those countries. This work seeks to contribute both to the debate on the financial impact of the war and postwar conflict in Argentina, as well as to the role of public banks to mitigate the ups and downs of the external sector and mitigate its effects on local actors.
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