State hydrocarbon policy and mode of accumulation in Argentina during the “postconvertibility” regime (2002-2011)

Abstract

In the period 2002-2011, there was a widening gap between the expansive dynamics of capital accumulation and the declining performance of the petroleum industry in Argentina. By the end of 2011, there was major imbalance in the oil and gas sector in both external trade and the state budget. This paper analyzes the hydrocarbon policies implemented by the federal government during the period mentioned, in terms of how they correlate with the foundations and weaknesses of the “postconvertibility” regime. To fulfill this objective, we triangulate different methods and techniques of data collection and analysis. Among other results, the article contributes to understanding the present dilemmas related to state intervention in the sector.

Keywords:
Economic development; Hydrocarbon resources; Government policy; Energy and the macroeconomy