Abstract

BARRERA, Mariano A.. Argentina's Energy Complex and its Structural Impacts on the External Sector. Ens. Econ. [online]. 2021, vol.31, n.59, pp.89-111.  Epub Dec 24, 2021. ISSN 0121-117X.  https://doi.org/10.15446/ede.v31n59.90320.

Since deregulation of hydrocarbon activities and the privatization of the state-run oil company in the 90's, Argentina entered the global energy value chain in a subordinate position. This dynamic implied an adaptation to foreign processes both by international and local companies that operate transnationally, which led to a persistent drainage of resources. Under this framework, as of 2010, Argentina went through a new process of external restrictions. Even though there are several factors that explain this scarcity in currency, the energy sector had a clear effect. Thus, the objective of this article is to analyze the impact of the energy complex on the external sector during the 2003 - 2005 period. Unlike existing studies that only consider the flow of energy goods published by the INDEC, the totality of the energy complex's current account is analyzed, as well as its capital and financial accounts, considering the Central Bank's Foreign Exchange Balance as a source of information. In brief, this is a broader analysis that allows a deeper understanding of the flow of currency from the energy sector.

JEL: L71; L51; L33; N56; F63.

Keywords : Argentina; energy; external sector; reliance; Vaca Muerta oil field.

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