Panel Presentations

Authors

Joshua K. Alley '15, Gettysburg College

Location

Breidenbaugh Hall 112

Session

Uganda, Spain & Argentina Policy and Conflict

Start Time

5-3-2014 1:15 PM

End Time

5-3-2014 2:30 PM

Supervising Faculty Member

Caroline Hartzell

Department

Political Science

Description

Argentina’s 2001 default was at the time the largest in history, with the Peronist government of Adolfo Rodriguez Saa declaring a cessation of payments on over 80 billion dollars in government bonds. Historically, the political science and economics literatures have emphasized the economic considerations surrounding the decision to default. Recent literature has explored the political motivations for default, but there has been little scholarship on the possible political consequences of default. Some authors have emphasized that default can have important audience costs for leaders, but other issues have been left unexplored. However, it is clear that Argentina’s 2001 default had important consequences in the international political arena, departing as it did from the international norms surrounding default and serving as an important signal of Argentina’s shifting international orientation.

Comments

This paper was written for the International Bridge Course, Spring 2014, and was funded by the Mellon International Bridge Course Grant.

The International Bridge Course is a unique opportunity for Gettysburg students to engage in a faculty-mentored research project of their own design over a three-semester period. IBC scholars began their research in semester one, carry out continuing or comparative research while studying abroad in semester two, and complete their research and submit their final project in semester three. Credit is awarded in semester three via an independent study. In this way, students, under the continued mentorship of a faculty member, may truly integrate their study abroad experience with the coursework they have taken on campus.

This paper was also a recipient of the 2014 Stock Writing Prize.

 
May 3rd, 1:15 PM May 3rd, 2:30 PM

Argentina's 2001 Default: Foreign Policy Considerations and Consequences

Breidenbaugh Hall 112

Argentina’s 2001 default was at the time the largest in history, with the Peronist government of Adolfo Rodriguez Saa declaring a cessation of payments on over 80 billion dollars in government bonds. Historically, the political science and economics literatures have emphasized the economic considerations surrounding the decision to default. Recent literature has explored the political motivations for default, but there has been little scholarship on the possible political consequences of default. Some authors have emphasized that default can have important audience costs for leaders, but other issues have been left unexplored. However, it is clear that Argentina’s 2001 default had important consequences in the international political arena, departing as it did from the international norms surrounding default and serving as an important signal of Argentina’s shifting international orientation.