The Political Economy of Economic Reforms in Argentina

In 1989, Argentina entered a process of sweeping transformation of its economic institutions which provided for the (temporary) recovery of economic growth and the taming of inflation. The Argentine experience with market-oriented reforms has been regarded by the literature as a salient case of radical and 'unconstrained' reform. Yet, a closer scrutiny portrays that the building and maintenance of a pro-"reform coalition determined the pace, depth and characteristics of the 'new economic institutions'. The idiosyncrasies of Argentina's political institutions, in turn, conditioned this coalition-building strategy. The same idiosyncrasies were at play in the 2001/2002 collapse of the convertibility regime and ensuing social and political chaos.Political Economy, Economic Reforms, Argentina,

The Political Economy of Policy Reform in the Philippines: 1992-1998

From 1992 to 1998, the Philippines saw a period of sweeping policy reforms when 273 economic, social and political legislations were adopted. When and why do policy reforms happen and what explains the scope, pace and sequencing of their implementation? My analytic narrative differs from the literature in its emphasis on: (1) the attributes of the players, particularly the role of leadership; (2) the attributes of the policy; and (3) the political rules of the game, including electoral cycles, tenure limits, veto rules and “turncoatism.”Political economy, macroeconomic policy reform, Philippines,