The thesis is organized in a set of studies divided in three chapters. Chapter 2 and 3 focus on the Argentine and Brazilian industrial development empirically and they are based on the Analysis Program of Industrial Dynamics database (PADI) (Katz and Stumpo, 2001). PADI covers 28 manufacturing...

The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis, the most recent emergence of competitive...