By Susan C. Stokes
Does it subject while politicians forget about the guarantees they made and the personal tastes in their parts? If politicians are looking to be reelected or see their social gathering reelected on the finish in their time period, why may they impose unpopular rules? Susan Stokes explores those questions via constructing a version of coverage switches after which checking out it with statistical and qualitative information from Latin American elections over the last twenty years. She concludes that politicians may possibly switch regulations simply because unpopular guidelines are most sensible for materials and for that reason will also most sensible serve their very own political goals.
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To shore up hard-currency holdings and 9 The sense of lost opportunity was all the greater because the ad itself was a powerfully crafted work oriented to young voters. I had several opportunities to interview and observe Barrantes during the 1985 campaign and found him almost unbelievably unfocused on winning. 40 Elections and Economic Policy allow for the imports required for the expansion, García announced that Peru would repay its foreign debt up to the equivalent of 10% of export earnings.
The IU also lacked money and was riven by conflict. 9 García defeated Barrantes by a 53–25% margin; the two rightist candidates between them mustered a mere 11% of the vote. APRA controlled a majority of seats in the legislature. García immediately put in place the program outlined in the campaign, a “heterodox” package aimed at inflation stabilization and redistribution of income (see Pastor and Wise, 1992). It featured a large one-time devaluation of the currency followed by an exchange rate freeze, a 50% reduction in interest to lower capital costs, and a reduction in the real price of government-supplied inputs and public services (electricity, water, telephone, and bus fares).
A full theory of democracy must grapple with these questions. 24 2 Elections and Economic Policy in Latin America The last two decades of the twentieth century were the era of new democracies and new market economies. But democracy was not always the road to the market. It was not if by democracy we have in mind government by popular will. Nowhere did the tension between the people’s will and market transformation rise to the surface more frequently than in Latin America. Some politicians, it is true, won elections after campaigning in favor of efficiency-oriented policies – reducing the size of the state, privatizing state-owned enterprises, and opening trade – and once in office actively pursued this agenda.