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ARGENTINA’S ECONOMY. Agron/Econ 496 Sergio Lence February, 2009. POPULATION, 2007. Argentina 39 million United States 302 million China 1,300 million India 1,073 million World 6,390 million. World Population Density. Population (bottom) and Internet (top) densities.
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ARGENTINA’S ECONOMY Agron/Econ 496 Sergio Lence February, 2009
POPULATION, 2007 • Argentina 39 million • United States 302 million • China 1,300 million • India 1,073 million • World 6,390 million
World Population Density • Population (bottom) and Internet (top) densities
Gross National Income (2007) Argentina U.S. • Total • Current U$S 0.24 trillion 13.9 trillion PPP U$S 0.51 trillion 13.8 trillion • Per Capita • Current U$S 6,050 46,040 • PPP U$S 12,990 45,850
Argentinean Economy • Upper-middle income, Western-style market economy (World Bank classification): • Low income (< $935 GNI per capita) • 49 countries (e.g., Haiti) • Lower-middle income ($936-$3,705) • 54 countries (e.g., Peru, Ecuador, Paraguay) • Upper-middle income ($3,706-$11,455) • 41 countries (e.g., Argentina, Brazil, Mexico) • High income (> $11,455) • 65 countries (e.g., US, Canada)
Argentinean Economy: History • Long history of government involvement • Military governments (until 1982) • Populist governments (e.g., Peron, Peronist party) • Major economic reforms starting in the 1990s • Privatization • Currency conversion • Major economic crisis in 2001/02
Argentinean Peso • Currency of Argentina • 1 U$S = 3.49 Argentinean Pesos • Introduced in 1992
Argentinean Peso: History • PESO Moneda Nacional (starting in 1881) • PESO Ley (starting in 1970) • 1 Peso Ley = 100 Pesos Moneda Nacional • PESO argentino (starting in 1983) • 1 Peso argentino = 10,000 Pesos Ley • AUSTRAL (starting in 1985) • 1 Austral = 1,000 Pesos argentinos • PESO (starting in 1992) • 1 Peso Ley = 10,000 Australes
Argentinean Peso: History • Various Argentine currencies towards the US Dollar
Monetary Conversion Rates • Fall in value of the Argentine currency vs. U.S. dollar
Monetary Conversion Rates • Fall in value of the Argentine currency vs. U.S. dollar
Monetary Conversion Rates • Argentinean Pesos per U.S. dollar
GINI Index (higher income inequality, higher index) • Argentina 51 • U.S. 41
Argentinean Economy:Current Concerns • Large government deficit • Government-distorted economy • Inflation • Unfavorable world market situation • Government vs. Farmers