Growth, Debt, and Politics: Economic Adjustment and the Political Performance of Developing Countries

By Lewis W. Snider | Go to book overview

4
Political Regime and Economic Adjustment:
Can the Democracies Do It Better?

Introduction: Debt Service, Democracy and Economic Adjustment

Chapter 3 demonstrated that political and economic institutions matter when it comes to achieving sustained economic growth and successful economic adjustment. But no link was established between secure property rights and reliable contract enforcement, on the one hand, and democratic political regimes, on the other. The findings in the last two chapters raise an awkward question: If institutional credibility, relative political extraction and explicit public revenue and spending policies are critical to sustained high levels of economic performance, do these attributes flourish equally well in authoritarian and in democratic regimes, or do some types of regimes intensify the impact of state capacity on economic performance, while other types do not? That is the question to which we now turn.

When the international debt crisis erupted in 1982 it was widely believed that the imperatives of economic adjustment would pose more serious problems for democracies than for authoritarian regimes. Several countries, notably Argentina, Brazil, Bolivia, Thailand and Turkey, had only recently emerged from authoritarian rule. In many of these countries authoritarian regimes were held responsible by their own publics for the economic crises their countries faced in the early 1980s. Nevertheless, there was widespread concern that the economic decline brought on by changes in the world economy and the rigors of economic adjustment might discredit and reverse the trend toward political liberalization and democratization that had been gaining momentum, particularly in Latin America, since the late 1970s. 1

The prevailing assumption was that economic decline undermines the ability of democratic governments to consolidate democratic values and institutions. Because of their susceptibility to popular political pressures, democracies would not be able to respond as effectively as authoritarian regimes to the challenges posed by economic adjustment.

-113-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Growth, Debt, and Politics: Economic Adjustment and the Political Performance of Developing Countries
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 242

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.