IDEAS home Printed from https://ideas.repec.org/b/cup/cbooks/9781107039254.html
   My bibliography  Save this book

The Politics of Market Discipline in Latin America

Author

Listed:
  • Campello,Daniela

Abstract

The Politics of Market Discipline in Latin America uses a multi-method approach to challenge the conventional wisdom that financial markets impose broad and severe constraints over leftist economic policies in emerging market countries. It shows, rather, that in Latin America, this influence varies markedly among countries and over time, depending on cycles of currency booms and crises exogenous to policy making. Market discipline is strongest during periods of dollar scarcity, which, in low-savings commodity-exporting countries, occurs when commodity prices are high and international interest rates low. In periods of dollar abundance, when the opposite happens, the market's capacity to constrain leftist governments is very limited. Ultimately, Daniela Campello argues that financial integration should force the Left toward the center in economies less subject to these cycles, but not in those most vulnerable to them.

Suggested Citation

  • Campello,Daniela, 2015. "The Politics of Market Discipline in Latin America," Cambridge Books, Cambridge University Press, number 9781107039254, October.
    • Handle: RePEc:cup:cbooks:9781107039254
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Naqvi, Natalya, 2022. "Economic crisis, global financial cycles, and state control of finance: public development banking in Brazil and South Africa," LSE Research Online Documents on Economics 115781, London School of Economics and Political Science, LSE Library.
    2. Daniel Carnahan & Sebastian Saiegh, 2021. "Electoral uncertainty and financial volatility: Evidence from two‐round presidential races in emerging markets," Economics and Politics, Wiley Blackwell, vol. 33(1), pages 109-132, March.
    3. Aldaz Pena, Raul, 2021. "Oiling congress: windfall revenues, institutions, and policy change in the long run," LSE Research Online Documents on Economics 115213, London School of Economics and Political Science, LSE Library.
    4. Cormier, Ben, 2022. "Partisan external borrowing in middle-income countries," LSE Research Online Documents on Economics 113929, London School of Economics and Political Science, LSE Library.
    5. Naqvi, Natalya, 2019. "Renationalizing finance for development: policy space and public economic control in Bolivia," LSE Research Online Documents on Economics 104232, London School of Economics and Political Science, LSE Library.
    6. Naqvi, Natalya, 2018. "Manias, panics and crashes in emerging markets: an empirical investigation of the post-2008 crisis period," LSE Research Online Documents on Economics 90368, London School of Economics and Political Science, LSE Library.
    7. Gavin Smith & Olivia Vila, 2020. "A National Evaluation of State and Territory Roles in Hazard Mitigation: Building Local Capacity to Implement FEMA Hazard Mitigation Assistance Grants," Sustainability, MDPI, vol. 12(23), pages 1-18, November.
    8. Fairfield, Tasha, 2015. "Structural power in comparative political economy:perspectives from policy formulation in Latin America," LSE Research Online Documents on Economics 62123, London School of Economics and Political Science, LSE Library.
    9. Julián Cárdenas, 2019. "Exploring the Relationship between Business Elite Networks and Redistributive Social Policies in Latin American Countries," Sustainability, MDPI, vol. 12(1), pages 1-17, December.
    10. Gibrán Cruz-Martínez, 2021. "Mapping Welfare State Development in (post) Neoliberal Latin America," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 157(1), pages 175-201, August.
    11. Iasmin Goes, 2023. "Examining the effect of IMF conditionality on natural resource policy," Economics and Politics, Wiley Blackwell, vol. 35(1), pages 227-285, March.
    12. Fairfield Tasha, 2015. "Structural power in comparative political economy: perspectives from policy formulation in Latin America," Business and Politics, De Gruyter, vol. 17(3), pages 411-441, October.
    13. Goes, Iasmin & Kaplan, Stephen B., 2024. "Crude credit: The political economy of natural resource booms and sovereign debt management," World Development, Elsevier, vol. 180(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:cbooks:9781107039254. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ruth Austin (email available below). General contact details of provider: https://www.cambridge.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.