The process of Structural Adjustment Reform in the Argentinean Provinces. The Case of the Provincial Reform Loan
Date
2002
Authors
Fuentes, Marcela Tomé
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Sanguinetti, Juan
Weinschelbaum, Federico
Journal Title
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Publisher
Universidad de San Andrés. Departamento de Economía
Abstract
The process of Structural Reform in Argentina began during the late 80s, but this attempt was
not replicated in Subnational governments until 1995. This was made possible thanks to the
sponsorship of the first World Bank (WB) loan addressed to the Argentinean provinces: the
Provincial Reform Loan (PRL). The present work proves that, despite the first years’
enthusiasm and voluntarism, the PRL showed disappointing results compared to the initial
aims of reform. Most important, the analysis carried on proves that the PRL loan was not as
successful as the WB evaluations suggested. A closer study of the problems affecting the
PRL’s performance suggests that there are clue design insufficiencies in this loan, which are a
common denominator in most Adjustment operations, the most important of which was the
lack of long term sustainability of the reforms. In such a way, a proposal was put forward so
as to remedy this insufficiency and improve Structural Adjustment lending performance,
which links loan’s disbursement on past loans’ outcomes. Under this new scenario, provinces
are encouraged to maintain the reforms so as to be eligible for future loans, extending their
horizon of action and improving Adjustment lending overall performance.
Description
Fil: Fuentes, Marcela Tomé. Universidad de San Andrés. Departamento de Economía; Argentina.
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Citation
Fuentes, M. T. (2002). The process of Structural Adjustment Reform in the Argentinean Provinces. The Case of the Provincial Reform Loan. [Tesis de grado, Universidad de San Andrés. Departamento de Economía]. Repositorio Digital San Andrés. http://hdl.handle.net/10908/194