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Elements for a political economy of the reforms in Lula Government

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  • Edmar Lisboa Bacha

Abstract

“Elements for a Political Economy of the Reforms in Lula Government”. Under the hypothesis that structural reforms are positive for the economy, it is argued that, in a government of the 'right', there exists stable political economy equilibrium: some reforms are made and the economy has a median performance. In a government of the 'left', such median equilibrium is unstable. A situation of double equilibria is characterized: the government either succeeds fully or it fails miserably. The conclusion is that the success of Lula's government will depend on the result of a race between the of his popularity, on one hand, and the improvement of the economy, on the other. JEL Classification: E61; E65; O11; O54.

Suggested Citation

  • Edmar Lisboa Bacha, 2004. "Elements for a political economy of the reforms in Lula Government," Brazilian Journal of Political Economy, Center of Political Economy, vol. 24(1), pages 18-29.
    • Handle: RePEc:ekm:repojs:v:24:y:2004:i:1:p:18-29:id:655
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/655/2042
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    More about this item

    Keywords

    Growth; rightism; political economy; leftism; reforms;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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