Volume 44, Number 173,
April-June 2013
Towards a New Development Model?
From a Regulatory Perspective. Argentina 2003-2010
Ignacio de Angelis, Mariana Calvento and Mariano Roark
Institutional Forms: Salary Relations ( ...continuation )

Figure 6. Evaluating the IPC-indec and the ipc-7 Provinces, 2005-2010 (Base 2005=100)
Source: Prepared by the authors based on indec 2012 and cifra Escriba aquí la ecuación.2011 data.

In this context, in 2009, the Universal Allocation Per Child (auh, Asignación Universal por Hijo) was implemented as a measure to repair these historical values (Agis et al., 2011:8), reaching the most unprotected sectors of the social set.

In summary, analyzing this institutional form reveals important transformations for the time period 2003-2010. First, it sheds light on direct determinants and the growth of the labor structure. Secondly, it demonstrates a significant shift in the indirect determinants of the salary relation, mainly based on a new concept of social policy and the variety of social inclusion tools. However, this process also has concrete limits that may not be clear when evaluating the development strategy.


In the framework of the proposed theory, in order to characterize a development and transformation model, we must take into account changes in the institutional forms as a function of their link to the accumulation regime, within a broader process of transformation and the restructuring of capitalism. In this sense, we have been able to distinguish some features regarding the conditions of production and exchange that gave rise to the accumulation regime of the Argentinean economy following the 2001-2002 crisis.

Reforms to the currency regime were the starting point for a new pattern of growth that made it possible to revive capital accumulation, under new conditions of production and exchange. In this way, throughout the first years of the analyzed period, the process of industrialization by import substitution was very dynamic, but later on, the services sector would obtain a key role in generating capital, limiting the potential transformation to a new accumulation regime.

In turn, laws regulating foreign investment and the financial sector served as neoliberal enclaves that influenced transformative processes within the productive structure and the definitive collapse of the financial profit-seeking accumulation regime. Of note among the conditions of production are the continuity of concentration processes and foreignization, both pending challenges to the consolidation of a new capital accumulation model.

We can therefore define the capital accumulation regime of 2003-2010 as a dual model. On the one hand, features of the financial profit-seeking model based on the exploitation of natural resources were maintained, especially from the agricultural sector, which continued to have a strong presence driven by the increase in production and exports. On the other hand, the development model became stronger during this time period, based on import substitution industrialization and state activism to drive and sustain demand and consumption through the efficient use of fiscal resources.

Our analysis reveals other features to characterize the current stage of development in Argentina as a process of open transition, where a set of internal and external determining factors from the political, economic, social and institutional realms, are of key importance.

In conclusion, according to the results of the analysis based in the regulation school of thought, we confirm the existence of sufficient evidence to state that starting with the transformations in 2003 to the mode of regulation in Argentina, the national development model began to undergo transformations as well. Likewise, we state that implementing a new development strategy has shown some elements of neoliberalism, and this co-existence is in keeping with the transitional nature of the current stage. Consequently, there are challenges to consolidating a new economic and social model and overcoming neoliberalism as the development strategy.

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PROBLEMAS DEL DESARROLLO. REVISTA LATINOAMERICANA DE ECONOMÍA, Volume 49, Number 195 October-December 2018 is a quarterly publication by the Universidad Nacional Autónoma de México, Ciudad Universitaria, Coyoacán, CP 04510, México, D.F. by Instituto de Investigaciones Económicas, Circuito Mario de la Cueva, Ciudad Universitaria, Coyoacán,
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