<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2619-6573</journal-id>
<journal-title><![CDATA[Ensayos de Economía]]></journal-title>
<abbrev-journal-title><![CDATA[Ens. Econ.]]></abbrev-journal-title>
<issn>2619-6573</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2619-65732022000100066</article-id>
<article-id pub-id-type="doi">10.15446/ede.v32n60.100376</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Desregulación, endeudamiento y fragilidad financiera externa: un enfoque minskiano para la crisis argentina 2018-2019]]></article-title>
<article-title xml:lang="en"><![CDATA[Deregulation, foreign debt and balance of Payments Financial Fragility: A Minskian Approach to Understanding theCrisis in Argentina During 2018-2019]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Zeolla]]></surname>
<given-names><![CDATA[Nicolas Hernán]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Médici]]></surname>
<given-names><![CDATA[Florencia]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Buenos Aires  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Argentina</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Buenos Aires  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Argentina</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2022</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2022</year>
</pub-date>
<volume>32</volume>
<numero>60</numero>
<fpage>66</fpage>
<lpage>90</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S2619-65732022000100066&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S2619-65732022000100066&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S2619-65732022000100066&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Entre 2015 y 2019, la economia argentina experimento grandes transformaciones en su forma de inserción financiera, lo cual desencadenó una de las crisis externas más importantes de la región en los últimos 20 años. A pesar de que existian signos de estar frente a los clásicos problemas estructurales de balance de pagos, la liberalización cambiaria y financiera incrementó la fragilidad financiera externa. Desde una perspectiva minskiana para economias abiertas, el objetivo de este articulo es analizar la gestación y secuencia de la crisis argentina de 2018, enfatizando la dimensión desregulatoria y de inestabilidad financiera creada por la inversión LEBACs (Letras del Banco Central), la persistencia de la salida de dólares y la inefectividad del acuerdo con el FMI para estabilizar la situación. JEL: G01; F32; F34.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract In the period from 2015 to 2019, Argentina's economy underwent major transformations in the regulations of its financial market that ended up in generating one of the largest external crises in the region in the last 20 years. Despite the fact that the economy faced problems related to the historical balance-of-payment constraints, both exchange rate and financial liberalization increased external financial fragility. From a Minskian framework for open economies, the aim of this paper is to analyze the gestation of the last Argentinian financial crisis, the sequence of the crisis and, finally, the outflow of capital. We focus on the deregulatory dimension and the dynamics of financial instability produced by LEBACs investment, persistence of dollar outflows and the failure of the IMF agreement to stabilize the economy.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Argentina]]></kwd>
<kwd lng="es"><![CDATA[crisis financiera]]></kwd>
<kwd lng="es"><![CDATA[Minsky]]></kwd>
<kwd lng="es"><![CDATA[deuda externa]]></kwd>
<kwd lng="en"><![CDATA[Argentina]]></kwd>
<kwd lng="en"><![CDATA[financial crisis]]></kwd>
<kwd lng="en"><![CDATA[Minsky]]></kwd>
<kwd lng="en"><![CDATA[external debt]]></kwd>
<kwd lng="en"><![CDATA[IMF]]></kwd>
</kwd-group>
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