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3 - The Argentine Tango

Published online by Cambridge University Press:  09 September 2019

George E. Shambaugh
Affiliation:
Georgetown University, Washington DC
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Summary

Like the bittersweet drama of tango dancers performing on Calle Florida for shoppers leaving Buenos Aires’ posh Galerías Pacífico shopping center, Argentina’s political and economic leaders stepped out of Latin America’s sorrowful “lost decade” of the 1980s with a series of dramatic policy changes that led the country through grand successes, devastating failures and postcrisis resurgences. Like the dancers shifting to changes in musical tempo, Argentine presidents and ministers of the economy responded to fluctuations in global markets and domestic politics with dips and twirls, driving forward and occasionally reversing direction with great fanfare. Their moves generated both praise and scorn, winning Argentina the diverse imprimaturs – at different moments in time – of “poster child” of the Washington Consensus, “defaulting pariah” of international bondholders, “vanguard” of Latin American populism and the “victim of vulture investors” that threatened to undermine debt restructuring agreements around the globe.

Type
Chapter
Information
Oracles, Heroes or Villains
Economic Policymakers, National Politicians and the Power to Shape Markets
, pp. 40 - 102
Publisher: Cambridge University Press
Print publication year: 2019

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  • The Argentine Tango
  • George E. Shambaugh, Georgetown University, Washington DC
  • Book: Oracles, Heroes or Villains
  • Online publication: 09 September 2019
  • Chapter DOI: https://doi.org/10.1017/9781108624978.004
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  • The Argentine Tango
  • George E. Shambaugh, Georgetown University, Washington DC
  • Book: Oracles, Heroes or Villains
  • Online publication: 09 September 2019
  • Chapter DOI: https://doi.org/10.1017/9781108624978.004
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • The Argentine Tango
  • George E. Shambaugh, Georgetown University, Washington DC
  • Book: Oracles, Heroes or Villains
  • Online publication: 09 September 2019
  • Chapter DOI: https://doi.org/10.1017/9781108624978.004
Available formats
×