Argentina: A Poster Child for the Failure of Liberalized Policies?
This fall, Argentina needed to be bailed out by the International Monetary Fund to avoid financial crisis. But Argentina has been the poster child for liberalized economics policies, including pegging its peso to the U.S. dollar and completely liberalizing the flow of capital. Economist Lance Taylor, long an expert on development economies, discusses what went wrong in Argentina and the state of the debate about how effective international development policies have been.