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Essay / Research Paper Abstract
A 7 page paper comparing the central banking systems of Argentina and the US. It appears that the primary difference in the central banks of Argentina and the US (aside from direct government involvement) is the ability of each to control the money supply as well as interest rates as instruments used in fine-tuning the orchestration of the market as described by Adam Smith. Smith’s “invisible hand” can become too heavy for the market to bear without any central bank intervention, but the central banks of both Argentina and the United States both have demonstrated in too-recent memory that ill-advised action can be as detrimental as no action at all. Bibliography lists 6 sources.
Page Count:
7 pages (~225 words per page)
File: CC6_KSargBank.rtf
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Unformatted sample text from the term paper:
Argentina has posted financial performance in the past two years that would make any investor cringe, and in fact caused many foreign ones to flee the country, taking their
capital with them. As has been common in South America, Argentina has flirted with socialist leanings for decades. The will of the people seems to be rejection of
socialism, but to date, capitalism has failed to effect positive, lasting change in Argentina. The country has struggled to bring its economy under control for years, but it has
struggled under lack of freedom of market forces to operate freely. Juan Peron assumed the role of dictator after World War II; a military junta took control in 1976
(Argentina, 2003). Democracy emerged in 1983 and there have been five free elections in the ensuing years, but the central bank has continued
to struggle against both new and long-standing problems. Both in structure and in autonomy, the central banking systems of Argentina and the United States differ quite remarkably. Argentinas Economic
Conditions In 2001, the Argentine government defaulted on $77 billion in debt to several private banks (Thomas, 2003). Argentina had been working
with - or rather resisting - International Monetary Fund (IMF) requirements for gaining loans from that source, but preferred to remain with private sources. The IMF is notorious for
attaching a series of economic reform requirements to loans to emerging economies, some of which have been cripplingly destructive in other developing countries of the world. Though Argentinas government
can be seen as being wise in resisting giving control over to the IMF, it nonetheless could have benefited from implementing at least some of the economic reforms that the
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