Difusión de ámbitos privilegiados de acumulación en la historia argentina reciente. Intervención económica estatal y comportamiento empresario, 1966-1989

Una mirada atenta sobre la historia argentina reciente muestra con claridad la conjunción de tres fenómenos relacionados: la persistente dificultad para construir un patrón de desarrollo sostenido, el progresivo deterioro de las capacidades y de los niveles de autonomía relativa del Estado y, finalmente, la consolidación de un reducido grupo de grandes empresas. A partir de esta observación, se propone analizar la articulación entre intervención estatal, comportamiento empresario y difusión de ámbitos privilegiados de acumulación, y establecer las consecuencias que la misma generó sobre el perfil y desempeño de las diversas fracciones que componen la cúpula empresaria, entre 1966 y 1989. Dos hipótesis orientan la indagación: 1) la intervención económica estatal y las prácticas empresarias favorecieron la difusión de diversos ámbitos privilegiados de acumulación, y 2) la difusión de los ámbitos permitió la consolidación de una fracción empresaria estrechamente vinculada al funcionamiento del complejo económico estatal-privado.

Difusión de ámbitos privilegiados de acumulación en la historia argentina reciente. Intervención económica estatal y comportamiento empresario, 1966-1989

Una mirada atenta sobre la historia argentina reciente muestra con claridad la conjunción de tres fenómenos relacionados: la persistente dificultad para construir un patrón de desarrollo sostenido, el progresivo deterioro de las capacidades y de los niveles de autonomía relativa del Estado y, finalmente, la consolidación de un reducido grupo de grandes empresas. A partir de esta observación, se propone analizar la articulación entre intervención estatal, comportamiento empresario y difusión de ámbitos privilegiados de acumulación, y establecer las consecuencias que la misma generó sobre el perfil y desempeño de las diversas fracciones que componen la cúpula empresaria, entre 1966 y 1989. Dos hipótesis orientan la indagación: 1) la intervención económica estatal y las prácticas empresarias favorecieron la difusión de diversos ámbitos privilegiados de acumulación, y 2) la difusión de los ámbitos permitió la consolidación de una fracción empresaria estrechamente vinculada al funcionamiento del complejo económico estatal-privado.

Difusión de ámbitos privilegiados de acumulación en la historia argentina reciente. Intervención económica estatal y comportamiento empresario, 1966-1989

Una mirada atenta sobre la historia argentina reciente muestra con claridad la conjunción de tres fenómenos relacionados: la persistente dificultad para construir un patrón de desarrollo sostenido, el progresivo deterioro de las capacidades y de los niveles de autonomía relativa del Estado y, finalmente, la consolidación de un reducido grupo de grandes empresas. A partir de esta observación, se propone analizar la articulación entre intervención estatal, comportamiento empresario y difusión de ámbitos privilegiados de acumulación, y establecer las consecuencias que la misma generó sobre el perfil y desempeño de las diversas fracciones que componen la cúpula empresaria, entre 1966 y 1989. Dos hipótesis orientan la indagación: 1) la intervención económica estatal y las prácticas empresarias favorecieron la difusión de diversos ámbitos privilegiados de acumulación, y 2) la difusión de los ámbitos permitió la consolidación de una fracción empresaria estrechamente vinculada al funcionamiento del complejo económico estatal-privado.

Financial integration, productivity and capital accumulation

Understanding the mechanism through which financial globalization affects economic performance is crucial for evaluating the costs and benefits of opening financial markets. This paper is a first attempt at disentangling the effects of financial integration on the two main determinants of economic performance: productivity (TFP) and investments. I provide empirical evidence from a sample of 93 countries observed between 1975 and 1999. The results suggest that financial integration has a positive direct effect on productivity, while it spurs capital accumulation only with some delay and indirectly, since capital follows the rise in productivity. I control for indirect effects of financial globalization through banking crises. Such episodes depress both investments and TFP, though they are triggered by financial integration only to a minor extent.

Managing Climate Insecurity by Ensuring Continuous Capital Accumulation : 'Climate Refugees' and 'Climate Migrants'

Numerous recent reports by non-governmental organisations (NGOs), academics and international organisations have focused on so-called 'climate refugees'. This article examines the turn from a discourse of 'climate refugees', in which organisations perceive migration as a failure of both mitigation and adaptation to climate change, to one of 'climate migration', in which organisations promote migration as a strategy of adaptation. Its focus is the promotion of climate migration management, and it explores the trend of these discourses through two sections. First, it provides an empirical account of the two discourses, emphasising the differentiation between them. It then focuses on the discourse of climate migration, its origins, extent and content, and the associated practices of 'migration management'. The second part argues that the turn to the promotion of 'climate migration' should be understood as a way to manage the insecurity created by climate change. However, international organisations enacts this management within the forms of neoliberal capitalism, including the framework of governance. Therefore, the promotion of 'climate migration' as a strategy of adaptation to climate change is located within the tendencies of neoliberalism and the reconfiguration of southern states' sovereignty through governance.

Civil conflict and human capital accumulation: The long-term effects of political violence in Perú

This paper provides empirical evidence of the persistent effect of exposure to political violence on humancapital accumulation. I exploit the variation in conflict location and birth cohorts to identify the longandshort-term effects of the civil war on educational attainment. Conditional on being exposed toviolence, the average person accumulates 0.31 less years of education as an adult. In the short-term,the effects are stronger than in the long-run; these results hold when comparing children within thesame household. Further, exposure to violence during early childhood leads to permanent losses. I alsoexplore the potential causal mechanisms.

Incomplete markets, labor supply and capital accumulation

In this paper we explore the accumulation of capital in the presence oflimited insurance against idiosyncratic shocks, borrowing constraintsand endogenous labor supply. As in the exogenous labor supply case(e.g. Aiyagari 1994, Huggett 1997), we find that steady states arecharacterized with an interest rate smaller than the rate of timepreference. However,wealsofind that when labor supply is endogenous thepresence of uncertainty and a borrowing limit are not enough to giverise to aggregate precautionary savings .

Financial integration, productivity and capital accumulation

Understanding the mechanism through which financial globalization affect economic performance is crucial for evaluating the costs and benefits of opening financial markets. This paper is a first attempt at disentangling the effects of financial integration on the two main determinants of economic performance: productivity (TFP)and investments. I provide empirical evidence from a sample of 93 countries observed between 1975 and 1999. The results suggest that financial integration has a positive direct effect on productivity, while it spurs capital accumulation only with some delay and indirectly, since capital follows the rise in productivity. I control for indirect effects of financial globalization through banking crises. Such episodes depress both investments and TFP, though they are triggered by financial integration only to a minor extent. The paper also provides a discussion of a simple model on the effects of financial integration, and shows additional empirical evidence supporting it.

Effects of uncertain lifetime and annuity insurance on capital accumulation and growth

This paper studies the effects of uncertain lifetime on capitalaccumulation and growth and also the sensitivity of thoseeffects to the existence of a perfect annuities market. Themodel is an overlapping generations model with uncertainlifetimes. The technology is convex and such that the marginalproduct of capital is bounded away from zero. A contribution ofthis paper is to show that the existence of accidental bequestsmay lead the economy to an equilibrium that exhibits asymptoticgrowth, which is impossible in an economy with a perfect annuitiesmarket or with certain lifetimes. This paper also shows that ifindividuals face a positive probability of surviving in everyperiod, they may be willing to save at any age. This effect ofuncertain lifetime on savings may also lead the economy to anequilibrium exhibiting asymptotic growth even if there exists aperfect annuities market.

Growth accounting in items of turbulence and death: efficiency, technology, capital accumulation and human capital 1929-1950

We employ a non-parametrical approach to growth accounting (Data Envelopment Analysis,DEA) to disentangle the proximate sources of labour productivity growth in 41 nationsbetween 1929 and 1950 by decomposing productivity growth into four components:technological change; efficiency catch-up (movements towards the production frontier),capital accumulation and human capital accumulation. We show that efficiency catch-upgenerally explains productivity growth, whereas technological change and factoraccumulation were limited and distorted by the effects of war. War clearly hamperedefficiency. Moreover, an unbalanced ratio of human capital to physical capital (a gap to thetechnological leader) was crucial for efficiency catching-up.