Elements for a political economy of the reforms in Lula Government

Edmar Bacha

Brazilian Journal of Political Economy, 2004, vol. 24, issue 1, 18-29

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.

Keywords: Growth; rightism; political economy; leftism; reforms (search for similar items in EconPapers)
Date: 2004
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