Enterprise Surveys Argentina: Country Profile 2006

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Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 4244 Enterprise Surveys : Country Profile 26 Region: Latin America and the Carribean Income Group: Upper Middle Income Population (26): 38.8 million GNI per capita (26): US$447

Introduction 3 Snapshot 4 Infrastructure Finance 6 Labor 7 Corruption & Regulatory Burden 8 Courts & Crime 9 Innovations & Technology 1 Trade 11 Summary of Enterprise Survey Indicators 12

Introduction Enterprise Surveys The Enterprise Surveys focus on the many factors that shape the decisions of firms to invest. These factors can be accommodating or constraining and play an important role in whether a country will prosper or not. An accommodating business environment is one that encourages firms to operate efficiently. Such conditions strengthen incentives for firms to innovate and to increase productivity key factors for sustainable development. A more productive private sector, in turn, expands employment and contributes taxes necessary for public investment in health, education, and other services. In contrast, a poor business environment increases the obstacles to conducting business activities and decreases a country s prospects for reaching its potential in terms of employment, production, and welfare. Enterprise Surveys are conducted by the World Bank and its partners across all geographic regions and cover small, medium, and large companies. The surveys are applied to a representative sample of firms in the non-agricultural economy. The sample is consistently defined in all countries and includes the entire manufacturing sector, the services sector, and the transportation and construction sectors. Public utilities, government services, health care, and financial services sectors are not included in the sample. Enterprise Surveys collect a wide array of qualitative and quantitative information through face-to-face interviews with firm managers and owners regarding the business environment in their countries and the productivity of their firms. The topics covered in Enterprise Surveys include the obstacles to doing business, infrastructure, finance, labor, corruption and regulation, law and order, innovation and technology, trade, and firm productivity. The qualitative and quantitative data collected through the surveys connect a country s business environment characteristics with firm productivity and performance. The Enterprise Survey database is intended to be useful for both policymakers and researchers. The surveys are to be repeated over time to track changes and benchmark the effects of reforms on firm performance. Country Profiles The Country Profiles produced by the Enterprise Analysis Unit (FPDEA) of the World Bank Group provide an overview of key business environment indicators in each country, benchmarking against their respective geographic region and group of countries with similar incomes. Breakdowns by firm size are presented in the Appendix of the document along with all statistics used to make the graphs. The same topics are covered for all countries with slight variations in indicators (subject to data availability). This format allows cross country comparisons. All indicators are based on the responses of firms. To learn more about the firms sampled for this country profile (tabulations for these and other indicators by industry, exports, and type of ownership) or to obtain profiles of other countries, please visit the web page http://www.enterprisesurveys.org. Currently available at the Enterprise Survey website are survey results on the business environment in over 97 countries, based on data from more than 61, firms. http://www.enterprisesurveys.org Country Profile:ARGENTINA 3

The country profile for is based on data from the Enterprise Surveys conducted by the World Bank in 26. The benchmarks include the averages for the group of countries in Latin America and the Caribbean and the income group. Below is a snapshot of the constraints to investment and doing business as perceived by firms. The first graph presents the top 1 constraints as identified by firms in benchmarked against the regional average. The second graph shows the top 3 constraints broken down by large, medium, and small firms in. Snapshot of the Business Environment in Identifying the Problem as the Main Obstacle 2 18 16 Latin America and the Caribbean 14 12 1 8 6 4 2 Political Instability Access to Financing (Availability and Cost) Labor Regulations Tax Rates Anti- Competitive or Informal Practices Skills and Education of Available Workers Corruption Tax Administration Customs and Trade Regulations Legal System/Conflict Resolution AMÉRICA LATINA Y EL CARIBE 26 Identifying the Problem as the Main Obstacle 2 Small firms (1-19 Medium firms (2-99 Large firms (1 employees or more) 2 1 1 Political Instability Access to Financing (Availability and Cost) Labor Regulations Access to Financing (Availability and Cost) Tax Rates Anti- Competitive or Informal Practices Labor Regulations Tax Rates Political Instability http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 4

Infrastructure A strong infrastructure enhances the competitiveness of an economy and improves the quality of life of the population. Good infrastructure connects firms to their customers and suppliers, and enables the use of modern production technologies. Conversely, deficiencies in infrastructure create barriers to productive opportunities and increase costs for all firms, from microenterprises to large multinational corporations. Enterprise Surveys capture the dual challenge of providing strong infrastructure: the physical construction of roads, power lines, water systems, etc., and the development of institutions that effectively provide and maintain public services. The first set of indicators shows the extent to which firms perceive two components of infrastructure as constraints: transportation and electricity. Inadequate transportation and problems with electricity increase costs, disrupt production, and lower revenue. The second set of indicators measures the quality of infrastructure: the number of power outages and insufficiencies in water supply per month and losses due to power outages. The third set of indicators evaluates the efficiency of infrastructure services by measuring the delays in obtaining electricity, water, and telephone connections. Service delays impose additional costs on firms and may act as barriers to entry and investment. Incidents in a Typical Month Delays 4 4 3 3 2 2 1 1 4 3 3 2 2 1 1 Delays in Obtaining Electricity Connections (Days) Infrastructure as a Constraint % of Firms Identifying Transportation as a Major Constraint Service Delays Delays in Obtaining Water Connections (Days) % of Firms Identifying Electricity as a Major Constraint 4. 4 3. 3 2. 2 1. 1. Incidents/Typical Month of Power Outages Upper Middle Income * Manufacturing Sector Quality of Infrastructure Incidents/Typical Month of Insufficient Water Supply Delays in Obtaining Telephone Connections (Days) Percent 6 4 3 2 1 % of Sales Lost to Power Outages Latin America and the Caribbean * Manufacturing Sector http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA

Finance Developed financial markets provide payment services, mobilize deposits, and ease investment financing. Efficient financial markets reduce the reliance on internal funds and money from informal sources such as family and friends by connecting firms to a broad range of lenders and investors. Enterprise Surveys provide indicators of how firms perceive their financial environment and finance their operations. The first set of indicators measures the extent to which firms perceive access to finance as a constraint to investment and provides a measure of access. Inadequate financing possibilities create difficulties in meeting short-term payments for labor and supplies as well as longer-term investment. The use of banks to finance investments or working capital is an initial indicator of access to credit. The second set of indicators compares the relative use of various sources for financing investment. Excessive reliance on internal funds is a likely sign of inefficient financial intermediation. The third set of indicators focuses on the use of bank loans and overdraft facilities, and quantifies the burden imposed by loan requirements, measured by collateral levels relative to the value of the loans. Excessive loan collateral requirements are likely to constrain investment opportunities. 4 4 3 3 2 2 1 1 Access to Finance as a Constraint % of Firms Identifying Access/Cost of Finance as a Major Constraint % of Firms Using Banks to Finance Investments or Expenses 37 Latin America and the Caribbean Upper Middle Income Access to Finance How Enterprises Finance Investment 2 4 6 8 1 % of Investments Financed by Internal Funds % of Investments Financed by Banks % of Investments Financed by Trade Credits % of Investments Financed by Equity % of Investments Financed by Other Sources 18 Value of Collateral 37 16 14 36 36 3 Percent 12 1 8 6 3 4 2 34 % of Firms with Bank Loans/Line of Credit Upper Middle Income Value of Collateral (% of Loan Value) Latin America and the Caribbean http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 6

Labor Jobs are the main source of income for people and the main pathway out of poverty for the poor. A sound investment climate contributes to the creation of employment opportunities, investment in the workforce, increases in wages, and, ultimately, a more productive and prosperous society. Enterprise Surveys collect information on the labor market constraints faced by firms and also on the characteristics of workers in the firms surveyed. 6 4 3 2 1 Labor Regulations and Labor Force Education as a Constraint % of Firms Identifying Labor Regulations as a Major Constraint % of Firms Identifying Labor Skill Level as a Major Constraint The first set of indicators measures the extent to which firms perceive labor regulations and labor skill level as constraints. The second set of indicators highlights firm investment in the skills and capabilities of their workforce. Incidence and intensity of training is measured by the percent of manufacturing firms that offer formal training and the share of workers receiving training. The quality of labor is measured by the share of skilled workers in the manufacturing industry. The third set of indicators presents the composition of the firms workforce by type of contract and gender. Labor regulations have a direct effect on the type of employment and may have a differentiated impact by gender. The first two indicators present the composition of the workforce broken down by permanent and temporary workers. The following indicator reflects the participation of women in temporary employment. Average Number of Workers Percent 7 6 4 3 2 1 % of Firms Offering Formal Training Investment in the Working Force (Manufacturing Sector) % of Workers Offered Formal Training % of Skilled Production Workers 1 9 8 7 6 4 3 2 1 Labor Force Composition Permanent Full Time Workers Temporary Workers Percent 4 3 2 1 Percent of Temporary Female Workers Latin America and the Caribbean Upper Middle Income http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 7

Corruption and Regulatory Burden The regulatory environment plays a significant role in shaping investment decisions and how firms do business. Effective regulations address market failures that inhibit productive investment and reconcile private and public interests. 7 6 4 3 2 1 Corruption as a Restriction 2 2 1 1 Conversely, inefficient regulations present major administrative and financial burdens on firms. In some environments, regulations present opportunities for soliciting bribes when firms are required to make unofficial payments to public officials to get things done. Enterprise Surveys provide qualitative and quantitative measures of corruption and regulatory burdens. The first set of indicators focuses on the perception of firms regarding corruption and the share of firms making unofficial payments, i.e., paying the bribe tax. The second set of indicators identifies the extent to which specific regulatory and administrative officials require bribe payments with tax payments or to obtain a license. The third set of indicators captures the time tax imposed by regulation. The first indicator measures the time spent by senior management in meetings with public officials in order to comply with government regulations and the second measures the average number of tax inspections or meetings with tax inspectors. Percent of Time 18 16 14 12 1 16 14 12 1 8 6 4 2 % of Firms Expected to Give Gifts in Meetings with Tax Inspectors Bribe Tax % of Firms Expected to Give Gifts to Obtain Operating Licenses % of Firms Expected to Give Gifts to Obtain Import Licenses 8 6 4 2 % of Firms Identifying Corruption as a Major Constraint Regulation Time Tax Latin America and the Caribbean Upper Middle Income % of Senior Management Time Dealing with Government Regulations Time Spent in Tax Inspection Meetings (Meetings/Year) % of Firms Making Unofficial Payments to Get Things Done 4. 4 3. 3 2. 2 1. 1. Meetings/Year http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 8

Courts and Crime Commercial disputes between firms and their clients occur regularly in the course of doing business. Resolving these disputes can be challenging when legal institutions are weak or non-existent. Often, the only recourse for firms to resolve commercial disputes is the court system. However, not only are outcomes uncertain, but also this process can be lengthy and expensive. Similarly, crime imposes costs on firms when they are forced to divert resources from productive uses to cover security costs. Enterprise Surveys capture key dimensions of contract enforcement problems and the effect of crime on firm revenue. The first set of indicators shows the share of firms that identify the performance of courts of justice and crime as major constraints to their operations. The second set of indicators first includes two perceptions regarding the quality of the service offered by courts. The third indicator shows the share of firms resolving third-party disputes through court action. The third set of indicators measures the direct costs of security incurred by firms and losses due to crime. These resources represent an opportunity cost since they could have been invested in productive activities. 9 8 7 6 4 3 2 1 3 3 2 2 1 1 Courts and Crime as a Constraint % of Firms Identifying Legal System/Conflict Resolution as a Major Constraint % of Firms Identifying Crime, Theft and Disorder as a Major Constraint % of Firms Believe Court System is Able to Enforce its Decisions Contract Enforcement % of Firms Believe Court System is Fair/Impartial/Uncorrupted % of Firms Resolving Disputes Through Court Action. 4. 4. Cost of Crime 3. Percent of Sales 3. 2. 2. 1. 1... Costs of Security (% of Sales) Losses Due to Crime (% of Sales) http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 9

Innovation and Technology In order to survive and prosper in a competitive marketplace, firms must innovate and increase their productivity. A sound investment climate encourages firms to experiment and learn; it rewards success and punishes failure. Enterprise Surveys provide indicators that describe several dimensions of technological efficiency and innovation..6..4.3.2.1 Innovative Capability of the Manufacturing Sector % of Firms investing in Research and Development 9 8 7 6 4 3 2 1 % of Firms Undertaking Innovation The first set of indicators measures the extent to which manufacturing firms invest in research and development as well as the share of firms undertaking innovation. In this context, innovation encompasses the development or upgrade of product lines and the introduction of new production technologies. The second set of indicators quantifies the effect of foreign and domestic competition in lowering production costs for manufacturing firms. The third set of indicators demonstrates the use of information and communications technologies (ICT) in business transactions. ICT, such as the Internet, are important tools for all firms because they provide even the smallest of enterprises with the ability to reach national and international markets at low cost. Porcentaje de empresas 8 7 6 4 3 2 1 1 9 8 7 6 4 3 2 1 External Competition as Driver of Efficiency % of Firms Identifying Foreign % of Firms Identifying Domestic Competition as Important Influence in Competition as Important Influence in Lowering Production Costs Lowering Production Costs % of Firms Using E-mail to Interact with Buyers/Suppliers/Customers Use of Internet % of Firms Using Website to Interact with Buyers/Suppliers/Customers http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 1

Trade Open markets allow firms to expand, force greater efficiencies on exporters, and enable the import of lower-cost supplies. However, trading also forces firms to deal with customs services and trade regulations, obtain export and import licenses, and in some cases, face additional costs due to losses during transport. Enterprise Surveys collect information on the constraints faced by exporters and importers and also capture the trade activity of firms. 4 4 3 3 2 2 1 1 Customs and Trade Regulations as a Constraint % of Firms That Trade % of Firms That Trade Identifying Customs & Trade Regulations as a Major Constraint The first set of indicators shows the extent to which firms that trade directly, i.e. those that export or import without going through a distributor, consider customs and trade regulations to be a constraint. 16 14 12 Inefficiencies in Customs The second set of indicators measures the average number of days to clear customs for imports and exports. The delay in clearing customs for imports or exports creates additional costs to the firm and can interrupt production, interfere with sales, and result in damaged supplies or merchandise. The third set of indicators shows the percent value of exports lost during transport due to theft or merchandise breakage or spoilage, reflecting the transport risks that firms must cover during the export process. Days 1 8 6 4 2 Days on Average to Claim Imports From Customs * Days on Average to Clear Customs for Exports * Manufacturing Sector.7.6 Export Activity. Percent.4.3.2.1 % Value of Exports Lost Due to Theft % Value of Exports Lost Due to Breakage or Spoilage http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 11

Summary of Enterprise Survey Indicators Small (1-19 Medium (2-99 Large (1+ Latin America and the Caribbean Upper Middle Income Identifying the Problem as the Main Obstacle Electricity 2. 2. 3.1 1.2 8. 12.3 Transportation.3..4.6 1.4 1.1 Access to Land.... 1.1.7 Tax Rates 14. 12.4 1.9 17.2 7.8 12.9 Tax Administration 4. 2.9 4.3 6.8 4.1 3.7 Customs and Trade Regulations 3.2 4.9.4 4.2 1.8 1.7 Labor Regulations 1.4 14.1 1.2 19.4 4.4 7.9 Skills and Education of Available Workers 6. 6.9 4.4 6.9 4.9.3 Business Licensing and Operating Permits 1.2 1.3.1 3.6 2.3 3. Access to Financing (Availability and Cost) 1.7 16.6 18. 8.1 11.8 1.2 Political Instability 16. 17.8 1.8 14.1 12.7 7.7 Corruption 4.3.1 2.9.2 9. 7.6 Crime, Theft and Disorder 1.6 2..7.6 9.8 7.1 Anti-Competitive or Informal Practices 12.1 1. 1.9 8.4 18.8 17.6 Legal System/Conflict Resolution 2.8 2.6 2.7 3.7 1.4 1.2 Infrastructure Indicators % of Firms Identifying Transportation as a Major Constraint 17.3 1. 14.2 29.8 18. 12.8 % of Firms Identifying Electricity as a Major Constraint 31.2 28.9 34.1 31.4 37.4 37.3 Incidents/Typical Month of Power Outages 1.3.9 1.8 1.3 2.9 2.1 Incidents/Year of Insufficient Water Supply 1..8.4.3 4. 2.4 % of Sales Lost to Power Outages 1.6 2.1 1.6.6. 2.1 Delays in Obtaining Electricity Connections (Days) 46.2 7.1 41.4 39.6 33.2 27.1 Delays in Obtaining Water Connections (Days) 1. 1.1 2.3 14.1 4. 22.2 Delays in Obtaining Telephone Connections (Days) 23.7 22.7 27.1 17.1 43.2 12.6 Finance Indicators % of Firms Identifying Access/Cost of Finance as a Major Constraint 38. 4. 38. 34. 23.2 23. % of Firms Using Banks to Finance Investments or Expenses 3.3 19.8 3.9 48.9 38.9 31.1 % of Investments Financed by Internal Funds 71. 8.6 66.9 7. 6.9 67.2 % of Investments Financed by Banks.4 1.6 8.9 7. 21.2 16. % of Investments Financed by Trade Credits 4.. 4.4 3.6 8. 7.7 % of Investments Financed by Equity..1.8.7.8.4 % of Investments Financed by Other Sources 18.7 12.7 19.1 31. 9. 8.1 % of Firms with Bank Loans/Line of Credit 3. 19.7 41.2 66.6 36. 36.6 Value of Collateral (% of Loan Value) 18.3 212.2 131.7 139.8 122. 131.6 http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 12

Summary of Enterprise Survey Indicators Small (1-19 Labor Force Indicators Medium (2-99 Large (1+ Latin America and the Caribbean Upper Middle Income % of Firms Identifying Labor Regulations as a Major Constraint 4.4 48.8 42.6 42.3 1.1 19.9 % of Firms Identifying Labor Skill Level as a Major Constraint 49. 47.2 2.1 47.3 29.1 28. % of Firms Offering Formal Training 1.6 39.1 7.2 7.3 42.2 38.3 % of Workers Offered Formal Training 6.9 64. 68.1 63. 9.1. % of Skilled Production Workers 41.6 1. 3.2 34. 47.2 49.2 Number of Permanent Full Time Workers 91.7 9.6 41.8 47.9 46.8 4.3 Total Number of Temporary Workers 13..9 4. 74.1 12.1 1.3 Percent of Temporary Workers - Female 3.1 2. 31.4 34.6 29.7 3.4 Regulatory Burden and Corruption Indicators % of Firms Identifying Corruption as Major Constraint 9.9 64.7 4.4 8.2 6.1 44. % Firms Making Unofficial Payments to Get Things Done 18.7 18. 21.1 14.6 2.4 1.6 % of Firms Expected to Give Gifts in Meetings with Tax Inspectors 4.2 3.2 3.7 6. 6.8.2 % of Firms Expected to Give Gifts to Obtain Operating Licenses.4 18.1. 7.3 1.9 14.9 % of Firms Expected to Give Gifts to Obtain Import Licenses..7.4.3 6.3 2.4 % Senior Management Time Dealing with Government Regulations 1.6 14.7 16.2 16.9 14.6 1.1 Time Spent in Tax Inspection Meetings (Meetings/Year) 4.2 3. 4.1 6. 3. 3.2 Courts and Crime Indicators % of Firms Identifying Legal System/Conflict Resolution as a Major Constraint 19.9 2.3 2. 17. 12. 1. % of Firms Identifying Crime, Theft and Disorder as a Major Constraint 2.4 26.3 22. 3.3 29. 26.1 % Firms Believe Court System is Able to Enforce its Decisions 36. 3. 39. 47.8 39.2 49.8 % Firms Believe Court System is Fair/Impartial/Uncorrupted 1.7 11.2 16.2 28.1 23.1 34.6 % of Firms Resolving Disputes Through Court Action 8. 78.8 7. 9.7 66.9 71.2 Costs of Security (% of Sales) 1.7 3.1.9.9 2.4 2.2 Losses Due to Crime (% of Sales) 4.3 7.6 1. 1.6 4. 3.3 Innovation and Technology Indicators % of Firms investing in research and development..4..8.3.3 % of Firms Undertaking Innovation 84.8 79.1 86. 9.2 7.1 7.4 % of Firms Identifying Foreign Competition as Important Influence in Lowering Production Costs % of Firms Identifying Domestic Competition as Important Influence in Lowering Production Costs 37.8 37.6 32.4.3 48.9 47.2 68.9 66.1 72.8 67.2 69.3 69.1 % of Firms Using E-mail to Interact with Buyers/Suppliers/Customers 96.7 93.7 99.9 98. 7.4 77. % of Firms Using Website to Interact with Buyers/Suppliers/Customers 71.8 8.6 81.8 87. 39.6 46.6 http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 13

Summary of Enterprise Survey Indicators Small (1-19 Medium (2-99 Large (1+ Latin America and the Caribbean Upper Middle Income Trade Indicators % of Firms That Trade 43. 29.6. 7.8 18.6 22. % of Firms That Trade Identifying Customs & Trade Regulations as a Major Constraint 19.6 21. 18. 16.9 13.4 1.4 Days on Average to Claim Imports From Customs* 7. 6.4 7. 8. 13. 9.9 Days on Average to Clear Customs for Exports..7 4.6 6.9 6..1 % Value of Exports Lost Due to Theft.1..1.3.4. % Value of Exports Lost Due to Breakage or Spoilage.3.4.2..7. Notes: 1- Country-level indicators denoting percent of firms use as denominators the number of firms for which data for the respective question is available. Country-level indicators denoting quantities (i.e., number of days, percent of sales, percent of loan value, etc.) represent the average of responding firms that are not considered to be outliers. Outliers are defined as firms with values greater than the mean plus 3 times the standard deviation or lower than the mean minus 3 times the standard deviation for that particular indicator. Regional and income group indicators are calculated as the averages of country-level indicators in the respective region and income groups. 2- Indicators for Latin America and the Caribbean, the low middle income group, and the upper middle income group were calculated using country data available at the time of publication. a. Latin America and the Caribbean :, Bolivia, Colombia, Mexico, Panama, Peru, Paraguay, Uruguay, Chile, Ecuador, El Salvador, Honduras, Guatemala and Nicaragua. b. Low Middle Income Grouup : Bolivia, Colombia, Paraguay, Peru, Ecuador, El Salvador, Honduras, Guatemala and Nicaragua. c. Upper Middle Income Grouup :, Mexico, Panama, Uruguay and Chile. * Manufacturing Sector Only 3. The sample for each country is stratified by industry, firm size, and geographic region. For stratification by industry the main manufacturing sectors in each country in terms of value added, number of firms, and contribution to employment are selected. The retail trade sector is also included in all countries as a representative of the services sector, and depending on the size of the economy, the information technology (IT) sector is included. The rest of the universe is included in a residual stratum. Stratification by size follows the three levels presented in the text: small, medium, and large. Regional stratification includes the main economic regions in each country. Through this methodology estimates for the different stratification levels can be calculated on a separate basis while at the same time inferences can be made for the economy as a whole, weighting individual observations by corresponding sample weights. Sample sizes for each stratification level are defined ensuring a minimum precision level of 7.% with 9% confidence intervals for estimates with population proportions (for more technical details on the sampling strategy, please review the Sampling Note available at www.enterprisesurveys.org). 4. In included cities were: Buenos Aires, Rosario, Mendoza and Cordoba. Protected: indicators were no estimated for variables with less than five observations. Selected Manufacturing Industries: Manufacturing sector 61 Retail 229 Other sectors 233 Total 163 http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 14

June 27 International Bank of Reconstruction and Development The World Bank 1818 H Street, NW Washington, DC 2433 USA Enterprise Analysis Unit (FPDEA) MSN-F4P-4 Fax: 1 22-22-229 The findings, interpretations, and conclusions presented herein are those of the authors and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of the World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. http://www.enterprisesurveys.org Enterprise Surveys: ARGENTINA 1