Argentina: An Economic Chronicle. How one of the richest countries in the world lost its wealth [Paperback]

Vito Tanzi (Author)

Book Description

ISBN-10: 0979557607 | ISBN-13: 978-0979557606 | Publication Date: September 1, 2007

"Argentina started the 20th Century as one of the richest ten country in the world. For a while its economic position in the world was comparable to that of, say, Germany today. It had a per capita income much higher than that of Japan and Italy and comparable to that of France. However, it ended the century on the eve of the largest default in history. How did this dramatic change come about? In this unusual book, not based on library research but mostly on first hand and direct observations, the author takes the reader through a fascinating ride through time. The reader is introduced to the concept of fiscal cycles and the economic landscape of this fascinating country. The book is written in a style that will make it accessible and interesting to a general reader." Praise for V. Tanzi's Book on Argentina. Vito Tanzi has done it again. This book combines an intriguing prose, full of anecdotes and rich personal memoirs of Vito's many trips to Argentina, with serious economic analysis from a first class economist. .Vito has come to understand very well Argentina's idiosyncrasy, institutions and the nature of the protracted fiscal problems, and explains how these have led over time to major macroeconomic volatility, stagnation, and repeated crises. This book is particularly useful for the general public . Domingo Cavallo, Former Finance Minister of Argentina >>>> Vito Tanzi [book] is an invaluable document . of the dramatic fall of Argentina as the leading Latin American economy. .[show] .. the complicity of the IMF and of Argentine policy makers in the design of the disastrous fiscal policies that led to its huge debt default . It should be required reading for policy makers and for all those who love that wonderful country . Francisco Gil- Diaz, Former Finance Minister of Mexico >>>> Explaining the reversals of economic fortunes in Argentina during the 20th century is a challenge for economists and social observers in general. After being one of most dynamic and vibrant economies in the late 19th century and early 20th century, ., the country started to travel a road of economic instability, stagnant and erratic growth and collapse of democracy. In this new and lucid book Vito Tanzi, drawing on 40 years of direct personal knowledge and field experience with Argentina, ..This book, . is a must reading for anyone interested in understanding the Argentina of today and yesterday. Highly recommended. Andrés Solimano Regional Advisor UN-ECLAC. Former Country Director at the World Bank and Executive Director at the Inter-American Development Bank. >>>> Tanzi helps us understand the Argentinean crisis, but also this unique country. This is not a book written only for economists. Francesco Giavazzi, Bocconi University, Milan Author: "For 27 years, Vito Tanzi was a senior staff member of the International Monetary Fund. He was the director of the Fiscal Affairs Department of the IMF. He also was an Undersecretary for Economy and Finance in the Italian Government. A professional economist with a PhD from Harvard, he is considered a leading expert in fiscal policy. The author of many books and hundreds of articles in professional journals, he has given a named "effect" to economics, the "Tanzi Effect". He has been a consultant to many international organizations including the United Nations, the World Bank, the European Commission, the European Central Bank, and the Inter-American Development Bank. In 1994 he was President of the International Institute of Public Finance of which he is now Honorary President.

Product Details

• Paperback: 164 pages
• Publisher: Jorge Pinto Books Inc. (September 1, 2007)
• Language: English
• ISBN-10: 0979557607
• ISBN-13: 978-0979557606
• Product Dimensions: 9 x 6 x 0.4 inches
• Shipping Weight: 8 ounces (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #781,664 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

4 of 5 people found the following review helpful:

5.0 out of 5 stars Economics at its best, December 13, 2007

By 

Istvan P. Szekely (Brussels, Belgium) - See all my reviews
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This review is from: Argentina: An Economic Chronicle. How one of the richest countries in the world lost its wealth (Paperback)

This is a special book for a number of reasons. It is an excellent account of how bad policies and politicians can destroy wealth. The problem is much deeper than just the lack of fiscal discipline, though the observations on the continuous deterioration of the Argentine fiscal system are really enlightening. But Vito Tanzi offers much more than just a pure "narrow-minded" economic analysis, he describes a society that lost the most important element of success, social coordination. A fascinating reading for everyone, economists and non-economists alike. I cannot resist pointing out that there is another beautiful country in Europe Vito frequently visited in the past four decades that would certainly benefit from a book like this.

15 of 22 people found the following review helpful:

3.0 out of 5 stars This book hasn't any deepness about Argentina, April 25, 2009

By 

Dalton C. Rocha (Fortaleza, CE, Brazil.) - See all my reviews

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This review is from: Argentina: An Economic Chronicle. How one of the richest countries in the world lost its wealth (Paperback)

I read this regular book, here in Brazil.This book is about argentine economic history, in the last decades.
There's many good parts of this book,that are very good.
Same examples:
Page 7:"By 1910... Argentina was one of foremost countries in the world.It was one of the most important grain and meat exporters.Its GDP represented 50 percent of all Hispanic America, ranked in the world's economy, and its amounted to 7 percent of world's total."
Page 18:"Between May 1973 and March 1976, when the military returned to power, there were 5079 terrorist attacks".
Page 150:"I hope I am wrong, but my understanding of the fiscal history of Argentina over the past sixty years does not make me optimistic about the future in spite of the good perforamnce of the economy in the 2003-2007 period."
Some mistaks are in this book.To example, on page 44, there's a claim that Alfonsin came after eight years of military rule, whyle the military rule was of seven years.
Compared to the book "The Crisis of Argentine Capitalism", by Paul H. Lewis, this book isn't outdated, but this book is far worse than Lewis' book.
Why?Because this book hasn't deepness in anything, about Argentine economic history.Beyond any doubt, Argentina was a developed country in the past.Decades before Spain, Argentina was the first Spanish speaking country, to have a first world status, but this became over decades ago.
This book hasn't nothing about the so called "Concordacia" between 1930-1945 and almost nothing, about Perón government.
Perón wasn't just corrupt, but also a calamity and a watershed in Argentine history.Perón took terrible ways to rule Argentina.
Argentina became third world, because of "Concordacia" or because of Perón?
Why Argentina's economic history was even worse, than of its neighbors?
Is peronism the cause or the consequence of Argentina's decline?
Why Chile became a sucess after 1970 decade, whyle Argentina became even worse?
This book hasn't any clues about the answers, to any of these questions.I gave four stars to the Lewis' book, then I should to give three stars, for this regular or weak book.This book also doesn't tells that loans to Third World, including Brazil and Argentina, were bad to peoples, whyle spreading poverty and corruption.The author was a director of IMF, but again he hasn't deepness, about IMF's rule.
I'm a brazilian and all smart brazilians must learn about Argentina,but this book isn't a good choice to really learn, about Argentina.

2 of 3 people found the following review helpful:

5.0 out of 5 stars Argentina: An Economic Chronicle, January 13, 2008

By 

George Iden (Bethesda, MD) - See all my reviews
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This review is from: Argentina: An Economic Chronicle. How one of the richest countries in the world lost its wealth (Paperback)

Vito Tanzi has written a compact, highly readable account, of the causes and consequences of Argentina's economic decline since the early Twentieth Century, providing valuable lessons for Argentina, for other countries, and for the International Monetary Fund. According to Mr. Tanzi, a persistent lack of fiscal discipline led to economic disaster, and the International Monetary Fund fed, prolonged, and intensified the process. In telling this compelling account, he also provides an appealing introduction to Argentina, with its beautiful tourist attractions and rich cultural heritage. I highly recommend this book both to economists and non-economists alike.