Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability, 1880-1935 (National Bureau of Economic Research Series on Long-Term Factors in Economic Development)

The "Argentine disappointment"why Argentina persistently failed to achieve sustained economic stability during the twentieth centuryis an issue that has mystified scholars for decades. In Straining at the Anchor , Gerardo della Paolera and Alan M. Taylor provide many of the missing links that help explain this important historical episode. Written chronologically, this book follows the various fluctuations of the Argentine economy from its postrevolutionary volatility to a period of unprecedented prosperity to a dramatic decline from which the country has never fully recovered. The authors examine in depth the solutions that Argentina has tried to implement such as the Caja de Conversin , the nation's first currency board which favored a strict gold-standard monetary regime, the forerunner of the convertibility plan the nation has recently adopted. With many countries now usingor seriously contemplatingmonetary arrangements similar to Argentina's, this important and persuasive study maps out one of history's most interesting monetary experiments to show what works and what doesn't. The Argentine Disappointment--why Argentina Persistently Failed To Achieve Sustained Economic Stability During The Twentieth Century - Is An Issue That Has Mystified Scholars For Decades. In Straining At The Anchor, Gerardo Della Paolera And Alan M. Taylor Provide Many Of The Missing Links That Help Explain This Important Historical Episode. Written Chronologically, This Book Follows The Various Fluctuations Of The Argentine Economy From Its Postrevolutionary Volatility To A Period Of Unprecedented Prosperity To A Dramatic Decline From Which The Country Has Never Fully Recovered. The Authors Examine In Depth The Solutions That Argentina Has Tried To Implement Such As The Caja De Conversion, The Nation's First Currency Board Which Favored A Strict Gold-standard Monetary Regime, The Forerunner Of The Convertibility Plan The Nation Has Recently Adopted.--jacket. Pt. 1. The Historical And Methodological Context. 1. Introduction. 2. Anchors Aweigh: The Drift Toward Crisis In The 1880s -- Pt. 2. The Baring Crisis And Its Origins. 3. A Monetary And Financial Wreck: The Baring Crisis, 1890-91. 4. Collision Course: Macroeconomic Policies And The Crash -- Pt. 3. The Making Of The Belle Epoque. 5. Relaunching The Gold Standard: From Monetary Anemia To Plethora And The Political Economy Of Resumption, 1891-99. 6. Calm Before A Storm: The Gold Standard During The Belle Epoque, 1899-1914 -- Pt. 4. The Travails Of The Interwar Years. 7. Distress Signals: Financial Fragility In The Interwar Period. 8. Bailing Out: Internal Versus External Convertibility. Gerardo Della Paolera And Alan M. Taylor. Includes Bibliographical References (p. 257-265) And Indexes. The "Argentine disappointment"—why Argentina persistently failed to achieve sustained economic stability during the twentieth century—is an issue that has mystified scholars for decades. In Straining the Anchor, Gerardo della Paolera and Alan M. Taylor provide many of the missing links that help explain this important historical episode. Written chronologically, this book follows the various fluctuations of the Argentine economy from its postrevolutionary volatility to a period of unprecedented prosperity to a dramatic decline from which the country has never fully recovered. The authors examine in depth the solutions that Argentina has tried to implement such as the Caja de Conversión, the nation's first currency board which favored a strict gold-standard monetary regime, the forerunner of the convertibility plan the nation has recently adopted. With many countries now using—or seriously contemplating—monetary arrangements similar to Argentina's, this important and persuasive study maps out one of history's most interesting monetary experiments to show what works and what doesn't. "The "Argentine disappointment" - why Argentina persistently failed to achieve sustained economic stability during the twentieth century - is an issue that has mystified scholars for decades. In Straining at the Anchor, Gerardo della Paolera and Alan M. Taylor provide many of the missing links that help explain this important historical episode. Written chronologically, this book follows the various fluctuations of the Argentine economy from its postrevolutionary volatility to a period of unprecedented prosperity to a dramatic decline from which the country has never fully recovered. The authors examine in depth the solutions that Argentina has tried to implement such as the Caja de Conversion, the nation's first currency board which favored a strict gold-standard monetary regime, the forerunner of the convertibility plan the nation has recently adopted."--BOOK JACKET. Organized chronologically, this text follows the flucuations of the Argentine economy, trying to ascertain why the country failed to achieve economic stability in the 20th century. The authors examine the various solutions that Argentina has tried to implement, including the "Caja de Conversion". In a short span of a few golden years, with their peak from around 1900 to 1913, Argentines enjoyed a Belle Epoque.