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

See all articles by Ugo Panizza

Ugo Panizza

United Nations - Conference on Trade and Development (UNCTAD); Graduate Institute of International and Development Studies (IHEID)

Monica Yanez

Inter-American Development Bank (IDB) - Research Department

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Abstract

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

Panizza, Ugo G. and Yanez, Monica, Why are Latin Americans so Unhappy About Reforms?. Journal of Applied Economics, Vol. 8, No. 1, pp. 1-29, May 2005. Available at SSRN: https://ssrn.com/abstract=743304

Ugo G. Panizza (Contact Author)

United Nations - Conference on Trade and Development (UNCTAD) ( email )

Palais des Nations
Office E 8074
Geneva, 1211
Switzerland

Graduate Institute of International and Development Studies (IHEID) ( email )

PO Box 136
Geneva, CH-1211
Switzerland

Monica Yanez

Inter-American Development Bank (IDB) - Research Department ( email )

1300 New York Ave., NW
Washington, DC 20577
United States

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