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New research on the businessmen who restructured the rules of the game during Argentina's 🇦🇷 debt crisis

An article just published on Business History (w/ a graphic timeline in post!)

Paula de la Cruz-Fernández

Apr 21

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While the world watched Argentina’s debt crisis, a small group of businessmen restructured the rules of the game—from inside the state.

The article 𝐓𝐡𝐞 𝐰𝐢𝐧𝐧𝐞𝐫𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐥𝐨𝐬𝐭 𝐝𝐞𝐜𝐚𝐝𝐞. 𝐓𝐡𝐞 𝐞𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐜𝐫𝐢 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐠𝐫𝐨𝐮𝐩 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐫𝐢𝐬𝐢𝐬 𝐨𝐟 𝐭𝐡𝐞 𝟏𝟗𝟖𝟎𝐬 𝐢𝐧 𝐀𝐫𝐠𝐞𝐧𝐭𝐢𝐧𝐚 https://doi.org/10.1080/00076791.2025.2456278 by Bruno Perez Almansi & Alejandro Gaggero shows how Grupo Macri successfully acquired major automotive subsidiaries like Fiat and Peugeot, becoming a leading vehicle producer despite the challenging economic climate. The study argues that the group's growth stemmed from its adept management of local and foreign resources, leveraging trade protectionist policies and macroeconomic instability to partner with multinational corporations hesitant to operate directly in Argentina.