Argentina, the IMF, and the Limits of Neo-Liberal Globalization: A Comparative Perspective

Abstract

The Argentine experiment of the 1990s attracted significant international attention as a model of neo-liberal restructuring. The Turkish version of neo-liberalism had also been identified as a successful example during its early stages in the mid-1980s. Subsequent crises in both countries, however, exposed the limitations of a model of economic growth based on short-term capital inflows and external debt. The present study aims to provide a critical appraisal of International Monetary Fund advice in semi-peripheral settings in the age of capital account liberalization drawing on insights based on the comparative analysis of the Argentine and Turkish experiences with neo-liberalism.