The Argentine Economy and History of Crises: Structural Problems and Cyclical Breaks

Year 2025, Volume: 5 Issue: 3, 242 - 253, 30.12.2025

Ali Birvural

Abstract

This study aims to analyze the historical course and crisis cycles of the Argentine economy from the 1880s to the present day. Argentina's economic success with its open growth model during the period 1880–1930, known as the "Golden Age", evolved into a cycle of instability shaped by structural vulnerabilities, external debt crises, hyperinflation, political uncertainties, and institutional weaknesses in the following decades.
The study was developed within the framework of a historical descriptive research method. The economic models applied in different periods import substitution based industrialization, neoliberal reforms, and state interventionism were comparatively examined on the basis of macroeconomic indicators, external debt data, and social variables.
Data sources include publications from the IMF, the World Bank, and academic literature, while the findings are supported by graphs and tables. The results reveal that although the policies implemented in Argentina provided short-term recoveries, they failed to achieve sustainable development due to the absence of institutional reforms and persistent political instability. In this respect, the Argentine example offers important structural lessons for developing economies.

Keywords

Argentine economy , economic crises , external debt , structural reform , import substitution , neoliberalism , inflation

Arjantin Ekonomisi ve Krizler Tarihi: Yapısal Sorunlar ve Döngüsel Kırılmalar

Abstract

Bu çalışma, Arjantin ekonomisinin 1880’lerden günümüze kadar uzanan tarihsel seyrini ve kriz döngülerini analiz etmeyi amaçlamaktadır. Arjantin’in "Altın Çağ" olarak bilinen 1880–1930 döneminde dışa açık büyüme modeliyle gösterdiği ekonomik başarı, sonraki yıllarda yapısal kırılganlıklar, dış borç krizleri, hiperenflasyon, siyasal belirsizlikler ve kurumsal zayıflıklarla şekillenen bir istikrarsızlık döngüsüne evrilmiştir. Çalışma, tarihsel betimleyici araştırma yöntemi çerçevesinde şekillendirilmiş; çeşitli dönemlerde uygulanan ekonomik modeller (ithal ikamesine dayalı sanayileşme, neoliberal reformlar, devlet müdahaleciliği) makroekonomik göstergeler, dış borç verileri ve sosyal değişkenler temelinde karşılaştırmalı olarak incelenmiştir. Veri kaynakları arasında INDEC, IMF, Dünya Bankası ve akademik yayınlar yer almakta olup, elde edilen bulgular tablolarla desteklenmiştir. Sonuçlar, Arjantin’de uygulanan politikaların kısa vadeli toparlanmalar sağlasa da, kurumsal reform eksikliği ve siyasi istikrarsızlık nedeniyle sürdürülebilir kalkınma sağlayamadığını ortaya koymaktadır. Bu yönüyle Arjantin örneği, gelişmekte olan ekonomiler için önemli yapısal dersler sunmaktadır.

Keywords

Arjantin ekonomisi , ekonomik krizler , dış borç , yapısal reform , ithal ikamesi , neoliberalizm , enflasyon

Thanks

İspanyolca çeviri desteği için Öğr. Gör. Dr. Duygu Babat ve Celal Ceyhan'a teşekkür ederiz.

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