The Macroeconomics of Populism in Latin America (A National Bureau of Economic Research Conference Report)

Annotation 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 Ponencias del congreso de 1990, fruto del proyecto de investigación organizado por el National Bureau of Economic Research, sobre las características de la economía del populismo en América Latina. Primero se hace una introducción general y luego se centra en los casos específicos de Argentina durante 1973-1976, los últimos sesenta años en Brasil, la experiencia chilena entre 1970-1973, la política méxicana entre 1970-1982, Perú en 1985-1990, la estabilización de la economía nicaragüense y el caso colombiano Comprises 11 papers which explore the economic consequences of populism in Latin America. Looks at definitions of populism and addresses aspects of populist economics' doctrine and policies. Describes populist experiences in six Latin American countries and examines the absence of populism in recent Colombian history. Discusses why these programmes go wrong and why policy makers repeatedly adopt these policies despite a history of failure. Covers mainly the 1970s and 1980s Edited By Rudiger Dornbusch And Sebastian Edwards. Papers Of A Conference Held At The Interamerican Development Bank In May 1990. Includes Bibliographical References And Indexes.