Argentina’s Three Economic Models: Policies and Outcomes Across Historical Periods

Abstract

This paper examines the evolution of three economic models in Argentina—the financial-neoliberal model, the developmentalist model, and the Justicialist economic model—using a comparative analysis of policies and macroeconomic outcomes. Indicators such as GDP growth, real wages, functional income distribution, and external debt are analyzed to identify patterns of accumulation and distributive dynamics.

The financial-neoliberal model (1976–1983, 1989–2001, 2016–2019) is characterized by capital-account liberalization, external indebtedness, and regressive income concentration, generating structural vulnerability. The developmentalist model (1955–1972, 2020–2023) prioritizes industrial expansion and external competitiveness, typically accompanied by wage compression. By contrast, the Justicialist model (1946–1955, 1973–1975, 2003–2015) combines economic growth with redistribution and debt reduction, achieving gains in employment and equity, though constrained by recurrent foreign-exchange shortages.

The article concludes that these models reflect divergent structural interests rather than alternative paths toward a shared objective, producing cyclical instability and persistent limits to development.