Argentine Crisis, IMF and the Limits of Neoliberal Globalization: A Comparative View from Turkey

Abstract

The Argentine experiment of the 1990s attracted significant international attention as a model case of neo-liberal restructuring. The Turkish version of neo-liberalism had also been identified as a success case during its early stages in the mid-1980s. Subsequent crises in both countries, however, exposed the limitations of a model of economic growth based on shortterm capital inflows and external debt. The present study aims to provide a critical appraisal of IMF advice in semi-peripheral settings in the age of capital account liberalization drawing on insights based on the comparative analysis of Argentine and Turkish experiences with neoliberalism.