The Macroeconomics of Populism in Latin AmericaRudiger Dornbusch, Sebastian Edwards University of Chicago Press, 2007年12月1日 - 412 頁 Again and again, Latin America has seen the populist scenario played to an unfortunate end. Upon gaining power, populist governments attempt to revive the economy through massive spending. After an initial recovery, inflation reemerges and the government responds with wage an price controls. Shortages, overvaluation, burgeoning deficits, and capital flight soon precipitate economic crisis, with a subsequent collapse of the populist regime. The lessons of this experience are especially valuable for countries in Eastern Europe, as they face major political and economic decisions. Economists and political scientists from the United States and Latin America detail in this volume how and why such programs go wrong and what leads policymakers to repeatedly adopt these policies despite a history of failure. Authors examine this pattern in Argentina, Brazil, Chile, Mexico, Nicaragua, and Peru—and show how Colombia managed to avoid it. Despite differences in how each country implemented its policies, the macroeconomic consequences were remarkably similar. Scholars of Latin America will find this work a valuable resource, offering a distinctive macroeconomic perspective on the continuing controversy over the dynamics of populism. |
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adjustment agricultural Allende April Argentina Austral Plan average Barbara Stallings basic black market Brazil budget capital capital flight Central Bank Chile Chilean Colombia countries crisis debt demand devaluation domestic Dornbusch and Edwards Echeverría economic policy effects expansion expenditures exports external finance firms fiscal deficit foreign exchange García groups growth hyperinflation implemented important income distribution incomes policies industrial inflation rate inflationary initial interest rates international reserves investment Isabel Perón July June labor Latin America macroeconomic macroeconomic policies ment Mexico minimum wage monetary policy months National Nicaragua nomic nominal official overvalued party percent period Perón Peru Peru's political populism populist policies president price controls private sector problems production public sector real wages redistribution reform regime result revenues Sandinistas social stabilization program structural subsidies tariffs terms of trade tion U.S. dollars Unidad Popular urban Vargas wage increases workers World Bank