Resumen

RUA, Magdalena  y  ZEOLLA, Nicolás. Foreign Exchange Deregulation, Capital Flight, and Debt: The Recent Experience in Argentina. Prob. Des [online]. 2018, vol.49, n.194, pp.5-30. ISSN 0301-7036.  https://doi.org/10.22201/iiec.20078951e.2018.194.61588.

In 2011, Argentina began to implement a series of foreign exchange controls, going so far as to prohibit the acquisition of foreign currency for non- productive purposes. In December 2015, after the change of administration, all of the foreign exchange regulations were eliminated and returned to their pre-2001-2002 crisis levels. These reforms were implemented under the mainstreaming vision, with the expectation that capital out flows would be reversed. Nevertheless, after the controls were lifted, according to information from the foreign exchange balance kept by the Central Bank of Argentina (BCRA) on Foreign Asset Formation (FAF), one year later, capital flight abroad had doubled. is increased currency outflow was financed by rising foreign debt.

Palabras llave : Foreign exchange market; banking regulations; capital flight; foreign debt; accumulation pattern.

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