But a lot of those factors apply to Chile and it's even quite close if friends and family are a factor. They are 88 places better on the corruption index and about 151 places better on economic freedom index, plus the government has an innovative technology accelerator program. Those are massive differences. Indeed it's probably one of the top differences for neighbours in the whole world besides North and South Korea. Chile also seems to have better education, as last I checked a significant portion of Argentinians haven't even completed primary school. But perhaps competition to hire talent is greater as well.
It seems to me Argentina is in a pretty dire situation at the moment. There is even a, small but real, possibility things could collapse into a failed state or dictatorship if the economic situation spirals out of control.
Edit: The economic freedom gap is actually bigger than South and North Korea! Argentina (158th of 179) is only just hovering above the failed states/dictatorships. I expect next years ranking will also be worse as things have gotten worse.