Oyvat, Cem ORCID: https://orcid.org/0000-0002-5097-0246, Öncü, T. Sabri and Rabinovich, Joel (2025) Argentina’s economic shock therapy Milei’s austerity policies and the road ahead. Economic and Political Weekly (EPW), 60 (7). pp. 10-14. ISSN 0012-9976

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Abstract

Argentina’s political and economic landscape has oscillated between neo-liberalism and neo-developmentalism over the past two decades, each model failing to deliver sustained prosperity (Öncü 2024). After the 2001 economic crisis under neo-liberal policies, the country shifted to neo-developmentalism under Néstor and Cristina Fernández de Kirchner. This approach emphasised state intervention, social inclusion, and capital controls, aiming to foster economic growth and reduce inequality. Argentina experienced significant economic growth during the earlier years of the Kirchner governments, achieving average annual growth rates of 8.8% between 2002 and 2007 and 6.3% between 2002 and 2011, driven by neo-developmentalist policies. However, the model’s inability to address structural challenges, coupled with external shocks, led to its eventual decline.

Item Type:	Article
Additional Information:	"The copyright of all articles published in EPW belongs to the author or to the organisation where the author is employed, as determined by the author’s terms of employment [...] No published article or part thereof should be reproduced in any form without prior permission of the author(s). A soft/hard copy of the author(s)’s approval should be sent to EPW."
Uncontrolled Keywords:	Argentina, Milei, shock therapy
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions
Faculty / School / Research Centre / Research Group:	Greenwich Business School Greenwich Business School > Political Economy, Governance, Finance and Accountability (PEGFA) Journal of Economic Literature Classification > Political Economy, Governance, Finance and Accountability (PEGFA) Greenwich Business School > School of Accounting, Finance and Economics
Related URLs:	Publisher
Last Modified:	20 Feb 2025 10:37
URI:	http://gala.gre.ac.uk/id/eprint/49787

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