PRINT THIS PAGE Micro lessons for Argentina06/06/2002. Source: McKinsey Quarterly. Heinz-Peter Elstrodt, Pablo Ordorica Lenero, and Eduardo Urdapilleta
Macroeconomic reform in Latin America has failed to promote sustained economic growth- a failure that has led to one financial crisis after another in Mexico, Brazil, and now, Argentina. Why? McKinsey's analysis of the Argentine economy reveals that barriers at the micro level are distorting competition, protecting outdated business practices, and holding back labour productivity and economic growth The traditional focus on macroeconomics must be complemented by detailed and pragmatic microeconomic reform if the region is to achieve lasting prosperity and economic stability.
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Taken from The McKinsey Quarterly, 2002 Number 2
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