Serial payers, serial losers? The political economy of Argentina's public debt

Article


Cantamutto, F. and Ozarow, D. 2016. Serial payers, serial losers? The political economy of Argentina's public debt. Economy and Society. 45 (1), pp. 123-147. https://doi.org/10.1080/03085147.2016.1161118
TypeArticle
TitleSerial payers, serial losers? The political economy of Argentina's public debt
AuthorsCantamutto, F. and Ozarow, D.
Abstract

Global neoliberal architecture has allowed countries to increase their debts to meet their needs. But ever since 2008, many European and North American countries have faced financial crises induced by unsustainable debts. This paper analyses the case of post-default Argentina since 2001, so as to better comprehend the political economy of public debt, especially in cases where governments are elected on anti-austerity platforms. Presidents Néstor and Cristina Kirchner were committed to a debt-reduction policy. Yet, Argentina faced a new, ‘selective’ default in 2014. This paper analyses why the country has inevitably trapped itself in a cycle of debt-dependency, which can only by interrupted by a comprehensive audit of its legitimacy followed by debt cancellation. Critical lessons are provided for other countries facing similar situations.

KeywordsArgentina; public debt; external debt; neoliberalism; default; vulture funds
Research GroupLaw and Politics
PublisherTaylor & Francis (Routledge)
JournalEconomy and Society
ISSN0308-5147
Electronic1469-5766
Publication dates
Online19 Apr 2016
Print02 Jan 2016
Publication process dates
Deposited19 Apr 2016
Accepted23 Feb 2016
Output statusPublished
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Open
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Restricted
Copyright Statement

© 2016 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group
This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way.

Digital Object Identifier (DOI)https://doi.org/10.1080/03085147.2016.1161118
Scopus EID2-s2.0-84963830065
Web of Science identifierWOS:000374894800006
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Has metadatahttp://www.scopus.com/inward/record.url?eid=2-s2.0-84963830065&partnerID=MN8TOARS
LanguageEnglish
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