Serial payers, serial losers? The political economy of Argentina's public debt
A global neoliberal architecture has enabled many countries to increase their public debts to meet their fiscal needs. But since 2008 a number of European and North American economies have faced financial crises induced by unsustainable debts. This paper analyses the case of post-default Argentina s...
| Authors: | , |
|---|---|
| Format: | article |
| Publication Date: | 2016 |
| Country: | España |
| Institution: | Universitat Autònoma de Barcelona |
| Repository: | Dipòsit Digital de Documents de la UAB |
| Language: | English |
| OAI Identifier: | oai:ddd.uab.cat:167631 |
| Online Access: | https://ddd.uab.cat/record/167631 https://dx.doi.org/urn:doi:10.1080/03085147.2016.1161118 |
| Access Level: | Open access |
| Keyword: | Argentina Public debt External debt Neoliberalism Default Vulture funds |
| Summary: | A global neoliberal architecture has enabled many countries to increase their public debts to meet their fiscal needs. But since 2008 a number of European and North American economies have faced financial crises induced by unsustainable debts. This paper analyses the case of post-default Argentina since 2001, so as to better comprehend the political economy of public debt, especially in cases where governments are elected on anti-austerity platforms. Presidents Néstor and Cristina Kirchner were committed to a debt-reduction policy, yet Argentina faced a new,'selective', default in 2014. This paper analyses how the country has been trapped in a cycle of debt dependency, which can only be interrupted by a comprehensive audit of the debts legitimacy followed by debt cancellation. Critical lessons are provided for other countries facing similar situations. |
|---|