The Politics Of Market Reform In Fragile Democracies

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The Politics Of Market Reform In Fragile Democracies

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Author : Kurt Weyland
language : en
Publisher: Princeton University Press
Release Date : 2021-01-12

The Politics Of Market Reform In Fragile Democracies written by Kurt Weyland and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-12 with Political Science categories.

This book takes a powerful new approach to a question central to comparative politics and economics: Why do some leaders of fragile democracies attain political success--culminating in reelection victories--when pursuing drastic, painful economic reforms while others see their political careers implode? Kurt Weyland examines, in particular, the surprising willingness of presidents in four Latin American countries to enact daring reforms and the unexpected resultant popular support. He argues that only with the robust cognitive-psychological insights of prospect theory can one fully account for the twists and turns of politics and economic policy in Argentina, Brazil, Peru, and Venezuela during the 1980s and 1990s. Assessing conventional approaches such as rational choice, Weyland concludes that prospect theory is vital to any systematic attempt to understand the politics of market reform. Under this theory, if actors perceive themselves to be in a losing situation they are inclined toward risks; if they see a winning situation around them, they prefer caution. In Latin America, Weyland finds, where the public faced an open crisis it backed draconian reforms. And where such reforms yielded an apparent economic recovery, many citizens and their leaders perceived prospects of gains. Successful leaders thus won reelection and the new market model achieved political sustainability. Weyland concludes this accessible book by considering when his novel approach can be used to study crises generally and how it might be applied to a wider range of cases from Latin America, Africa, and Eastern Europe.

The Politics Of Market Reform In Fragile Democracies

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Author : Kurt Gerhard Weyland
language : en
Publisher: Princeton University Press
Release Date : 2002

The Politics Of Market Reform In Fragile Democracies written by Kurt Gerhard Weyland and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.

This book takes a powerful new approach to a question central to comparative politics and economics: Why do some leaders of fragile democracies attain political success--culminating in reelection victories--when pursuing drastic, painful economic reforms while others see their political careers implode? Kurt Weyland examines, in particular, the surprising willingness of presidents in four Latin American countries to enact daring reforms and the unexpected resultant popular support. He argues that only with the robust cognitive-psychological insights of prospect theory can one fully account for the twists and turns of politics and economic policy in Argentina, Brazil, Peru, and Venezuela during the 1980s and 1990s. Assessing conventional approaches such as rational choice, Weyland concludes that prospect theory is vital to any systematic attempt to understand the politics of market reform. Under this theory, if actors perceive themselves to be in a losing situation they are inclined toward risks; if they see a winning situation around them, they prefer caution. In Latin America, Weyland finds, where the public faced an open crisis it backed draconian reforms. And where such reforms yielded an apparent economic recovery, many citizens and their leaders perceived prospects of gains. Successful leaders thus won reelection and the new market model achieved political sustainability. Weyland concludes this accessible book by considering when his novel approach can be used to study crises generally and how it might be applied to a wider range of cases from Latin America, Africa, and Eastern Europe.

The Politics Of Market Reform In Fragile Democracies

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Author : Kurt Weyland
language : en
Publisher:
Release Date : 2002

The Politics Of Market Reform In Fragile Democracies written by Kurt Weyland and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.

Bounded Rationality And Policy Diffusion

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Author : Kurt Weyland
language : en
Publisher: Princeton University Press
Release Date : 2009-02-09

Bounded Rationality And Policy Diffusion written by Kurt Weyland and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-09 with Political Science categories.

Why do very different countries often emulate the same policy model? Two years after Ronald Reagan's income-tax simplification of 1986, Brazil adopted a similar reform even though it threatened to exacerbate income disparity and jeopardize state revenues. And Chile's pension privatization of the early 1980s has spread throughout Latin America and beyond even though many poor countries that have privatized their social security systems, including Bolivia and El Salvador, lack some of the preconditions necessary to do so successfully. In a major step beyond conventional rational-choice accounts of policy decision-making, this book demonstrates that bounded--not full--rationality drives the spread of innovations across countries. When seeking solutions to domestic problems, decision-makers often consider foreign models, sometimes promoted by development institutions like the World Bank. But, as Kurt Weyland argues, policymakers apply inferential shortcuts at the risk of distortions and biases. Through an in-depth analysis of pension and health reform in Bolivia, Brazil, Costa Rica, El Salvador, and Peru, Weyland demonstrates that decision-makers are captivated by neat, bold, cognitively available models. And rather than thoroughly assessing the costs and benefits of external models, they draw excessively firm conclusions from limited data and overextrapolate from spurts of success or failure. Indications of initial success can thus trigger an upsurge of policy diffusion.

The Political Economy Of Capital Market Reforms In Southeast Asia

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Author : X. Zhang
language : en
Publisher: Springer
Release Date : 2011-09-13

The Political Economy Of Capital Market Reforms In Southeast Asia written by X. Zhang and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-13 with Political Science categories.

In this book, Xiaoke Zhang addresses two fundamental political and policy questions: why do politicians have heterogeneous incentives to pursue public-regarding policies through capital market reforms and why do they differ in their abilities to initiate and implement market reform policies decisively and resolutely?

The Politics Of Market Discipline In Latin America

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Author : Daniela Campello
language : en
Publisher: Cambridge University Press
Release Date : 2015-04-16

The Politics Of Market Discipline In Latin America written by Daniela Campello and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-16 with Business & Economics categories.

This book uses a multi-method approach to challenge the notion that financial markets exert a broad influence over economic policy making in emerging economies.

The Oxford Handbook Of The Political Economy Of International Trade

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Author : Lisa L. Martin
language : en
Publisher:
Release Date : 2015

The Oxford Handbook Of The Political Economy Of International Trade written by Lisa L. Martin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.

The Oxford Handbook of the Political Economy of International Trade presents the most up-to-date review of scholarship in this field. Building on an understanding of the economic interests that drive international trade, political scientists integrate theories of domestic society, domestic institutions, and international organizations to further our understanding of this vital force of globalization. This volume both surveys established theory and showcases cutting-edge research.

The Oxford Handbook Of Latin American Political Economy

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Author : Javier Santiso
language : en
Publisher: Oxford University Press
Release Date : 2012-04-11

The Oxford Handbook Of Latin American Political Economy written by Javier Santiso and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-11 with Political Science categories.

Latin America's recent development performance calls for a multidisciplinary analytical tool kit. This handbook accordingly adopts a political-economy perspective to understand Latin American economies. This perspective is not new to the region; indeed, this volume consciously follows the approach pioneered by political economist Albert O. Hirschman a half century ago. But the nature of the political and economic processes at work in Latin America has changed dramatically since Hirschman's critical contribution. Military dictatorships have given way to an uneven democratic consolidation; agricultural or primary-product producers have transformed into middle-income, diversified economies, some of which are leading examples of emerging markets. So, too, the tools of political-economy have developed by leaps and bounds. It is therefore worthwhile to take stock of, and considerably extend, the explosion of recent scholarship on the two-way interaction between political processes and economic performance. A unique feature of the book is that it begins with a group of chapters written by high-level academic experts on Latin American economics and policies who also happen to be current or past economic policy makers in the region, including Fernando Henrique Cardoso (former president of Brazil), Andrés Velasco (former Chilean finance minister), Luis Carranza (former Peruvian finance minister), Martín Redrado (former governor of the Argentina central bank) and Luciano Coutinho (president of Brazil's national development bank). These contributors draw upon their academic expertise to understand their experience in the trenches of policy making.

Harnessing Globalization

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Author : Roy C. Nelson
language : en
Publisher: Penn State Press
Release Date : 2012-01-31

Harnessing Globalization written by Roy C. Nelson and has been published by Penn State Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-31 with Political Science categories.

How can countries in the underdeveloped world position themselves to take best advantage of the positive economic benefits of globalization? One avenue to success is the harnessing of foreign direct investment (FDI) in the “nontraditional” forms of the high-technology and service sectors, where an educated workforce is essential and the spillover effects to other sectors are potentially very beneficial. In this book, Roy Nelson compares efforts in three Latin American countries—Brazil, Chile, and Costa Rica—to attract nontraditional FDI and analyzes the reasons for their relative success or failure. As a further comparison, he uses the successes of FDI promotion in Ireland and Singapore to help refine the analysis. His study shows that two factors, in particular, are critical. First is the government’s autonomy from special interest groups, both domestic and foreign, arising from the level of political security enjoyed by government leaders. The second factor is the government’s ability to learn about prospective investors and the inducements that are most important to them—what he calls “transnational learning capacity.” Nelson draws lessons from his analysis for how governments might develop more effective strategies for attracting nontraditional FDI.

Democracy S Resilience To Populism S Threat

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Author : Kurt Weyland
language : en
Publisher: Cambridge University Press
Release Date : 2024-01-25

Democracy S Resilience To Populism S Threat written by Kurt Weyland and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-25 with Political Science categories.

Analyzes contemporary Latin America, Europe, and the United States to show the many ways democracies withstand populism's threat.