In an age of financial globalization, are markets and democracy
compatible? For developing countries, the dramatic
internationalization of financial markets over the last two decades
deepens tensions between politics and markets. Notwithstanding the
rise of left-leaning governments in regions like Latin America,
macroeconomic policies often have a neoliberal appearance. When is
austerity imposed externally and when is it a domestic political
choice? By combining statistical tests with extensive field
research across Latin America, this book examines the effect of
financial globalization on economic policymaking. Kaplan argues
that a country's structural composition of international borrowing
and its individual technocratic understanding of past economic
crises combine to produce dramatically different outcomes in
national policy choices. Incorporating these factors into an
electoral politics framework, the book then challenges the
conventional wisdom that political business cycles are prevalent in
newly democratizing regions. This book is accessible to a broad
audience and scholars with an interest in the political economy of
finance, development and democracy, and Latin American politics.
General
Imprint: |
Cambridge UniversityPress
|
Country of origin: |
United Kingdom |
Series: |
Cambridge Studies in Comparative Politics |
Release date: |
2013 |
First published: |
February 2013 |
Authors: |
Stephen B. Kaplan
|
Dimensions: |
229 x 152 x 20mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
360 |
Edition: |
New |
ISBN-13: |
978-1-107-67076-1 |
Categories: |
Books >
Business & Economics >
Economics >
Political economy
|
LSN: |
1-107-67076-4 |
Barcode: |
9781107670761 |
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