Globalization and austerity politics in Latin America
By: Stephen B. Kaplan
Series: Cambridge studies in comparative politics
Publisher: Cambridge University Press
Published: 2012
Place of publication: New York
Language: eng
Number of pages: 331
ISBN-13: 9781107017979; 9781107670761
Subjects: Economic policy; Politics and government; Globalization; POLITICAL SCIENCE / Economic Conditions
Description: "The book explores the effect of financial globalization on Latin American economic policy making"--

"Developing country politicians in a financially globalized world su.er a similar fate. Hoping to lift their countries to development's pinnacle, they toil against the .erce force of globalization. The repeatedly roll the policy boulder up the mountain. Hoping to please mercurial markets, governments cut spending, hike interest rates, and balance budgets. With each economic crisis, however, the rock repeatedly tumbles down the mountain. In this manner, .nancial volatility has wreaked havoc on developing country economies over the last two decades. Why are some countries able to surmount the gravity of globalization, while others su.er from a Sisyphus-like misfortune? Let us begin by taking a brief South American sojourn to Argentina and Venezuela. With the rise of the Latin American left over the last decade, scholars and the popular press have often placed these two countries under a similar radical or populist banner. 1 They share other political and economic characteristics too. They are both presidential, upper middle-income countries that feature comparatively sized economies and populations.2 In terms of their macroeconomic approaches, however, their policy stances 1Roberts and Levitsky, 2011; Weyland 2009; Lynch 2007; Castaneda, 2006; Panizza 2005"--
Notes: Includes bibliographical references and index.
Table of contents: title: Machine generated contents note: 1. Introduction; 2. Globalization and austerity politics; 3. The political economy of elections; 4. The electoral boom-bust cycle; 5. From gunboat to trading-floor diplomacy; 6. When Latin American grasshoppers become ants; 7. The political austerity cycle; 8 Conclusion; Appendix A. Field research interviews.