The institutional dynamics of economic success and failure: a comparative historical institutional analysis of Spain and Argentina (1950-2000)

This article develops an historical and comparative institutional analysis of the economic experiences of Spain and Argentina in the second half of the XX Century. Why did the Spanish economy obtain the jump towards the economic prosperity in that period while the Argentine economy did not find the path of success? Which institutional variables do allow us to explain the dynamic evolution of the two economies through divergent paths? Can we extract some lessons from the analysis of both experiences? This work tries to answer to these questions from the perspective of the New Institutional Economics. The key variable is institutional change.

Gonzalo Caballero
Andrés Gallo
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