The Volatility Curse examines the conditions under which economic voting can (and cannot) function as a mechanism of democratic accountability, challenging existing theories that are largely based on experiences in developed democracies. Drawing on cross-national data from around the world and micro-level evidence from Latin America, Daniela Campello and Cesar Zucco make two broad, related arguments. First, they show that economic voting is pervasive around the world, but in economically volatile developing democracies that are dependent on commodity exports and inflows of foreign capital, economic outcomes are highly contingent on conditions beyond government control, which nonetheless determine relevant political outcomes like elections, popular support, and government transitions. Second, politicians are aware of these misattribution patterns and are often able to anticipate their electoral prospects well before elections. This reduces incumbents' incentives to maximize voter welfare, as anticipated by economic voting theories, and increases the likelihood of shirking, waste, and corruption.

Conventional wisdom suggests that partisanship has little impact on voter behavior in Brazil; what matters most is pork-barreling, incumbent performance, and candidates' charisma. This book shows that soon after redemocratization in the 1980s, over half of Brazilian voters expressed either a strong affinity or antipathy for or against a particular political party. In particular, that the contours of positive and negative partisanship in Brazil have mainly been shaped by how people feel about one party - the Workers' Party (PT). Voter behavior in Brazil has largely been structured around sentiment for or against this one party, and not any of Brazil's many others. The authors show how the PT managed to successfully cultivate widespread partisanship in a difficult environment, and also explain the emergence of anti-PT attitudes. They then reveal how positive and negative partisanship shape voters' attitudes about politics and policy, and how they shape their choices in the ballot booth.

The Volatility Curse examines the conditions under which economic voting can (and cannot) function as a mechanism of democratic accountability, challenging existing theories that are largely based on experiences in developed democracies. Drawing on cross-national data from around the world and micro-level evidence from Latin America, Daniela Campello and Cesar Zucco make two broad, related arguments. First, they show that economic voting is pervasive around the world, but in economically volatile developing democracies that are dependent on commodity exports and inflows of foreign capital, economic outcomes are highly contingent on conditions beyond government control, which nonetheless determine relevant political outcomes like elections, popular support, and government transitions. Second, politicians are aware of these misattribution patterns and are often able to anticipate their electoral prospects well before elections. This reduces incumbents' incentives to maximize voter welfare, as anticipated by economic voting theories, and increases the likelihood of shirking, waste, and corruption.

Conventional wisdom suggests that partisanship has little impact on voter behavior in Brazil; what matters most is pork-barreling, incumbent performance, and candidates' charisma. This book shows that soon after redemocratization in the 1980s, over half of Brazilian voters expressed either a strong affinity or antipathy for or against a particular political party. In particular, that the contours of positive and negative partisanship in Brazil have mainly been shaped by how people feel about one party - the Workers' Party (PT). Voter behavior in Brazil has largely been structured around sentiment for or against this one party, and not any of Brazil's many others. The authors show how the PT managed to successfully cultivate widespread partisanship in a difficult environment, and also explain the emergence of anti-PT attitudes. They then reveal how positive and negative partisanship shape voters' attitudes about politics and policy, and how they shape their choices in the ballot booth.