The impact of the devaluation of the Real in Brazil and the MERCOSUR crisis of 1999 in the fractionation of Argentine entrepreneurship

Abstract

The objective of this work is to analyze the impact that the devaluation of the Real in Brazil and the first Mercosur crisis had in 1999 on the division of the argentine business community. This division was shaped by the breakdown of the Group of Eight, the change of leadership of the Argentine industrial union and the formation of the productive Group. Without neglecting the importance of the 2001 crisis, to analyze the division of business, we would like to emphasize that it had been developing since the beginning of 1999, starting with the so-called "Real crisis". Even without publicly questioning convertibility (which they would do very close to december 2001), the balances of the economic policies of the decade began to be analyzed, in a more overlapping way,
including the exchange rate, especially of the sectors most affected by the opening scene. The bilateral tension between the two countries was transferred to Mercosur, leading it to an acute crisis until 2003, with asymmetries, imbalances and lack of consensus that would become a constant.