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Measuring Argentina's GDP: Myths And Facts

Ariel Coremberg - January 2014

Speed Read
  • Since 2007, official economic statistics in Argentina, particularly on consumer inflation and GDP, have been subject to political manipulation.
  • This paper reproduces Argentine national income from 2007 using standard methods and original sector data and finds that declared GDP is 12.2% higher in 1993 prices due to political intervention.
  • The paper finds that the distortion is mainly due to changes in accounting methodology across industries and not to changes in inflation estimates.
  • The reproduced GDP data dispels the myth that Argentina has been the fastest growing South American economy in recent years.

The Problems with Argentina’s Official Economic Data
During the last two decades, Argentina has experienced economic instability which has had a strong impact on the sustainability of the country’s long-run growth. In addition, there have also been a number of government actions that cast doubt on the veracity of official economic statistics. In 2007, the administration decided to suppress reported inflation by intervening in the calculation of the official Consumer Price Inflation Index (CPI) estimated by the National Statistics Institute (INDEC), an interference that ...

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