EC-IILS Joint Discussion Paper Series No. 3

Case study of past crises: Lessons learned from Argentina

The main objective of this paper is to discuss and analyze whether the effectiveness of past policy efforts have played a role in the positive performance of Argentina during the 2008 crisis. The paper suggests that although the origins of past and current crises are different in nature and scope, the ability to respond in an efficient and effective manner in the 2008 crisis is tied very much to the country’s previous experiences – in fact, the groundwork for many of the current programmes and measures was laid during the previous crisis and subsequent government reforms.