Alan M. Taylor is Professor of Economics at the University of California, Davis, where he holds a Chancellor's Fellowship through to 2006. He previously taught at Northwestern University. Professor Taylor's research has been published in leading journals such as the American Economic Review, Quarterly Journal of Economics, Econometrica, Economic Journal, Journal of Political Economy, International Economic Review, and the Journal of Economic History. A Research Associate of the National Bureau of Economic Research, he is the recipient of the 2000 Arthur H. Cole Prize (with G. della Paolera) and the 1993 Alexander Gerschenkron Prize. Professor Taylor coedited the forthcoming collection, Globalization in Historical Perspective (with M. D. Bordo and J. G. Williamson) and coauthored the 2001 Straining at the Anchor: The Argentine Currency Board and the Search for Macroeconomic Stability, 1880 1935 (with G. della Paolera).

Introduction Gerardo della Paolera and Alan M Taylor 6

The early Argen 21

Monetary and fiscal policies Gerardo 46

Economic cycles Adolfo Sturzenegger and Ramiro Moya 87

The labor market Sebastian Galiani and Pablo Gerchunoff 122

Capital accumulation Alan M Taylor 170

International trade and commercial policy Julio Berlinski 197

Agriculture Yair Mundlak and Marcelo Regunaga 234

Industry Maria Ines Barbero and Fernando Rocchi 261

Banking and finance 19001935 Leonard I Nakamura 295

I1 Business government and law Sergio Berensztein and 324

The Argentine puzzle Gerardo della Paolera 369

Historical statistics Gerardo della Paolera Alan M Taylor 380

Index 387

Argentina in 2003 is a middle income developing country. Argentina circa 1914 was one of the wealthiest countries in the world, with a GDP more than twice the average for Latin America and Southern Europe. How Argentina fell off its pre-1914 growth path is the subject of this extremely useful volume that brings together the most recent research by economists, political scientists, and historians. This collection of essays will be the standard study of the Argentine climacteric for decades to come." Stephen Haber, A.A. and Jeanne Welch Milligan Professor, Political Science; and Peter and Helen Bing Senior Fellow, Hoover Institution, Stanford University

"This book provides the best and most comprehensive assessment of Argentina's economic history since Carlos Diaz-Alejandroas classic Essays, and supersedes it for the wide range of topics and the analytical depth with which they are examined. It is highly recommended for the professional economist who wants to experience how deeply macroeconomic behavior is connected to politics in real life and for those who need to be persuaded that applying macroeconomics to history helps decisively to improve historical narrative." Leandro Prados de la Escosura, Universidad Carlos III, Madrid

"At the beginning of the twentieth century, Argentina was an affluent society, the most dynamic country in the global system attracting an unprecedented volume of foreign investment and massive flows immigrants. By the end of the century, the former bread basket of the world had become a basket case. A New Economic History of Argentina provides the definitive explanation of how this came about. This outstanding collection of essays assembled by della Paolera and Taylor signals a major advance in research on the Argentine Paradox." Colin M. Lewis, Associate Professor of Latin American Economic History, London School of Economics & Political Science.

"provides new information about Argentine economic history and offers fresh perspectives on the Argentine economy."
Business History Review