Why are Latin Americans so Unhappy About Reforms?
Journal of Applied Economics, Vol. 8, No. 1, pp. 1-29, May 2005
Posted: 16 Jun 2005
This paper uses opinion surveys to document discontent with the pro-market reforms implemented by most Latin American countries during the 1990s. The paper also explores four possible sets of explanations for this discontent: (i) a general drift of the populace's political views to the left; (ii) an increase in political activism by those who oppose reforms; (iii) a decline in the people's trust of political actors; and (iv) the economic crisis. The paper's principal finding is that the macroeconomic situation plays an important role in explaining the dissatisfaction with the reform process.
Keywords: Political economy, reforms, crisis, Latin America
JEL Classification: P16, O54
Suggested Citation: Suggested Citation