| Date: |
2016 |
| Abstract: |
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. |
| Note: |
Background of INCASI Project H2020-MSCA-RISE-2015 GA 691004. WP1: Compilation |
| Rights: |
Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, i la comunicació pública de l'obra, sempre que no sigui amb finalitats comercials, i sempre que es reconegui l'autoria de l'obra original. No es permet la creació d'obres derivades.  |
| Language: |
Anglès |
| Document: |
Article ; recerca ; Versió publicada |
| Subject: |
Argentina ;
Public debt ;
External debt ;
Neoliberalism ;
Default ;
Vulture funds |
| Published in: |
Economy & society, Vol. 45 Núm. 1 (2016) , ISSN 0308-5147 |
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