10.0 Minerals 2/ 3.2 -1.5 3.0 Services 2/ -2.6 0.9 2.0 Real per capita GDP (1991 US $) 4,133 4,048 4,203 Size of labor force (millions) 12.1 12.3 12.5 Unemployment rate (pct) 7.6 8.8 6.4 Consumer price index 3/ 4,923 1,344 75 Economic Indicators - 1995: GDPU$S 283 BillionsGDP (per capita)U$S 8.212GDP Growth- 4.4 % Inflation - CPI1.6 %WPI6,0 %Unemployment16.4 %Argentina: Domestic Economy 1997 1998(*) 1999(*) INCOME, PRODUCTION, EMPLOYMENT NOMINAL GDP (US$ BILLIONS) 310 330 343 POPULATION, MILLIONS 35 35.5 36 PCT CHANGE GDP 8.0 5.0 4.0 GDP PER CAPITA (US$) 8,900 9,300 9,500 LABOR FORCE, THOUSANDS 13,800 14,000 14,200 UNEMPLOYMENT RATE, PCT 14.9 13.5 13.0 CONSUMER PRICES, PCT INCREASE 0.3 0.5 1.0 . Crisis Management in Argentina during the 1994-95 Mexican Crisis: How Did Markets React? Eduardo J. J. Ganapolsky and Sergio L. Schmukler (July 1998) The Mexican crisis of 1994–95 had strong spillover effects on other countries. This study of how capital markets reacted to each policy announcement and piece of breaking news during the crisis reveals that the market welcomed announcements that reflected Argentina's adoption of credible policies and firm commitment to the currency board.Argentina was hit hard by the Mexican crisis of 1994–95. The Argentine peso came under attack and there was a run on bank deposits. Argentina successfully announced a series of policies to mitigate the spillover effects, without abandoning its currency board.Ganapolsky and Schmukler show how capital markets reacted to each policy announcement and piece of breaking news.They find that ...
