12b.+Financial+crisis - INTA 1200-American Government...

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Unformatted text preview: INTA 1200-American Government Financial Crises Debt Crisis Liquidity Crisis Argentinas Financial Crisis, 2001 (Debt Crisis)-Population = 41 million-Land area = 30 % size of US (8th largest country in world)-GDP = $550 billion (24 th largest in world)-GDP/capita = $13,900 (relatively wealthy)-Good standards of living, Western levels of life expectancy, literacy, etc. Argentina Buenos Aires Buenos Aires, ~1930 Buenos Aires, ~1930 Argentinas Ruling Junta, 1982 Carlos Menem, President 1989-1999 Switch to export-led strategy Dismantle protectionism MERCOSUR Free Trade Bloc Reduce regulations on business Privatize state-owned firms Balance the budget Adopt a fixed exchange rate Menems Economic Policies agriculture: 10% industry: 35% services: 55% Argentinas Economy ~1997 Exports = 20% of GDP mainly to: Export partners Brazil 16%, US 11% Chile 11% Imports = 15% of GDP mainly from: Import partners Brazil 36% US 14% Germany 4% Argentinas Economy ~1997 Asian Crisis, 1997 Russian Default, 1998 %-foreign lending up %-Argentinas up Argentine recession + Govt/Private Debt up Asian Crisis, 1997...
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This note was uploaded on 01/16/2012 for the course INTA 1200 taught by Professor Birchfield during the Spring '08 term at Georgia Institute of Technology.

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12b.+Financial+crisis - INTA 1200-American Government...

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