num_pages: 412
description: 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 Peruand 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.
language: English
title: The Macroeconomics of Populism in Latin America
publisher: University of Chicago Press