External Dependence, Demographic Burdens, and Argentine Economic Decline After the Belle Époque
研究阿根廷在20世纪相对经济衰退的成因，发现人口快速增长和大量移民压低国民储蓄，加上一战期间国际金融市场崩溃，导致投资资源稀缺，阻碍了战间期发展。
Once one of the richest countries in the world, Argentina has been in relative economic decline for most of the twentieth century. The quantitative records of income growth and accumulation date the onset of the retardation to around the time of the Great War, and patterns of aggregate saving and foreign borrowing show that scarcity of investable resources significantly frustrated interwar development. A demographic model of national saving demonstrates that the burdens of rapid population growth and substantial immigration depressed Argentine saving, contributing significantly to the demise of the Belle Époque following the wartime collapse of international financial markets.