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

By Lewis W. Snider | Go to book overview

Notes
3.
Generally established democracies show significantly higher average aggregate political capacity than any other regime type. The recently established democracies are noticeably lower than either established democratic or authoritarian systems.
4.
This section draws heavily on Przeworski and Limongi ( 1993: 52-59).
6.
For an informative analysis of the positions of the "orthodox" versus "heterodox" or alternative approaches to economic stabilization and adjustment, see Kahler ( 1990: 33-62).
7.
In Bolivia, for example, the newly elected government of Paz Estenssoro successfully carried out a wide-ranging stabilization program only three weeks after the government came into power. The Paz administration's "New Economic Policy" was, in the words of two analysts, "nothing less than a call to dismantle the system of state capitalism that had prevailed over the previous thirty years" ( Morales and Sachs 1989: 74). By contrast, his predecessor, Hernan Siles Zuazo, had tried several times to implement a stabilization program, but in each instance some combination of Siles's political opponents in Congress and his ostensible allies in organized labor torpedoed these efforts. The leading trade union organization, which had successfully opposed less farreaching packages under Siles, called for a general strike to block the New Economic Program. However, since the previous years had been a period of accelerating inflation and a growing sense of chaos, the new government clearly had the upper hand and the strike was quickly broken. Similarly, in the Philippines the new government of Corazon Aquino ruled by emergency decrees for over a year. Economic policy took the form of issuing executive orders. Even so, Aquino was criticized for not exploiting this situation more fully. Turgut Ozal used a similar situation in Turkey to exceed his largely ceremonial powers as president to promote a far-reaching stabilization package that included a 33 percent currency devaluation and the elimination of price controls and subsidies to state-owned enterprises. The result was a reorientation of Turkey's ossified statist economy toward an export-promotion policy based on market forces. Thus, newly installed democratic leaders also may be well positioned to define the terms of the political debate in a transitional situation when very broad anti-authoritarian coalitions are likely to disintegrate. Both Aquino and Ozal were able to do this.
8.
The classification scheme used here is essentially the same as that used by Haggard and Kaufman ( 1989). In democracies (a) leaders are chosen in competitive elections; (b) the principles of free speech and assembly are respected by the incumbent authorities and other political contenders; (c)

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