Rego, Juan with Juan A. Vega, "Probabilistic Generation of Scenarios for Argentina, Using a Elemental Harrod-Domar Model of Growth", 1987
The growing amount of the foreign debt of the developing countries shapes a gloomy future for most of them. The chances for maintained growth fueled by internal saving is nil if the service of the debt is satisfied, as it has to be to avoid international isolation. This is particularly true in the case of Argentina, with a debt equivalent to two thirds of its GDP, and its debt service representing more than 5 per cent of the GDP. After showing the historical facts about the Argentine economy, this paper presents a very simple version of a growth model type Harrod-Domar, adapted to the parameters of the local economy. Then the model is used for answering to “what-if” type of questions, wich arise from different plausible scenarios. Finally, it is analyzed the probabilistic generation of scenarios and related technical problems using DYNAMO.
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