Shedding light on Argentina's macroeconomic trap: Macroeconomic Policy Regimes and Demand and Growth Regimes

Demand and Growth Regimes (DGR) and Macroeconomic Policy Regimes (MPR) frameworks have taken prominence within the post-Keynesian literature. However, the majority of studies based on these conceptual frameworks have focused on developed economies. The main contribution of this paper is to provide a post-Keynesian analysis of the DGR and MPR of an emerging capitalist economy, Argentina, in the period between 2002 and 2019. Challenging previous periodization of the Argentine macroeconomy, the results show a more precise characterization of the latter, thus allowing a better understanding of economic policy and its results in terms of aggregate demand and growth. In particular, it is possible to observe the MPR and DGR transition between 2002 and 2015, as well as an abrupt change after 2016.