Social conflict and populist policies in Latin America

Jeffrey D. Sachs ()

Brazilian Journal of Political Economy, 1990, vol. 10, issue 1, 3-28

Abstract: The central hypothesis of this paper is that high income inequality in LatinAmerica contributes to intense political pressures for macroeconomic policies to raise theincomes of lower income groups, which in turn contributes to bad policy choices and weakeconomic performance. The paper looks in detail at one common type of policy failure: thepopulist policy cycle. This particular type of Latin American policymaking, characterized byoverly expansionary macroeconomic policies which lead to high inflation and severe balanceof payments crises, has been repeated so often, and with such common characteristics, that itplainly reveals the linkages from social conflict to poor economic performance. JEL Classification: P16; O21; O11; D72; E31.

Keywords: Political economy; income distribution; inflation; inequality (search for similar items in EconPapers)
Date: 1990
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