What is it about?
This is a snapshot in time of Argentine President Carlos Menem's efforts to open up and reform Argentina's economy in the early 1990s.
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Why is it important?
Argentina, like many Latin American nations, has struggled to develop and sustain a development model that blends growth, stability, and equity. Menem was one of the early followers of "the Washington Consensus." This article explores the problems and promise that he faced at the helm of the Argentine economy in 1991.
Perspectives
Among the hopeful economic scenarios of the 1990s was that favorable global economics and market-driven domestic policies with well-managed government spending would end the boom-bust cycle so common to Latin American economies. In Menem's case in Argentina, it did not turn out quite that way. It's not clear to me, in 2018, that the right lessons were ever learned.
Mr Peter J Kennedy
Futures Strategy Group
Read the Original
This page is a summary of: “Menemstroika” in Argentina, The International Executive, March 1991, Wiley,
DOI: 10.1002/tie.5060320514.
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