Business Enterprises and Entrepreneurship
Edited by Geoffrey Jones and Andrea Lluch
Chapter 9: Argentine and Chilean business in the second global economy
Business in Argentina and Chile has faced sharply contrasting macro-economic environments during the second global economy, and the response of firms and entrepreneurs has also differed. As earlier chapters have shown, traditionally Argentina was wealthier than Chile. By 1913, the per capita gross domestic product (GDP) of Argentina was 50 percent higher than that of Chile. Argentina’s GDP per capita was also 75 percent of that of the United States, and higher than that of Germany or France. Table 9.1 gives comparative per capita GDP data for benchmark years after 1820. After the onset of the Great Depression, Argentina never returned to its glory days as one of the world’s most vibrant economies, but the economy was not hit as hard as some in the southern hemisphere, especially Chile, and there were still spurts of growth. Even in 1980, Argentina’s GDP per capita was second highest in Latin America after Mexico. However, from 1984 the Chilean economy began to consistently outperform Argentina. Table 9.2 compares GDP growth in the two countries.
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