¿El modelo de financiamiento de "corto plazo", o el de crecimiento de largo plazo?

Abstract

Nowadays the discussion about the present crisis is in standby meanwhile a critical problem is not resolved: Is this a short term, conjuctural crisis? Or we are in front of a crisis insert in the structural characteristics of the economic model in functions in the country? The dominant vision has been that the problem can be reduced to the impact produced when the rate of exchange was fixed and its following financial effects. This work questions the aforementioned, noting the relation that occurred between those two events, the change overvaluation and the supporting financing model, together with the set of politics and processes in exercise since 1988 and until 1994. It supports that the characteristics of the model of structural change and the financial reform put in effect were the causes leading first to the economic stagnation and then to the crisis of December 1994.