DOCSLIB.ORG

BALÁN-DISSERTATION.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
BALÁN-DISSERTATION.Pdf Copyright by Manuel Elías Balán 2011 The Dissertation Committee for Manuel Elías Balán Certifies that this is the approved version of the following dissertation: Today’s Allies, Tomorrow’s Enemies? The Political Dynamics of Corruption Scandals in Latin America Committee: Kurt Weyland, Supervisor Daniel Brinks Zachary Elkins Kenneth Greene Wendy Hunter Raul Madrid Adam Przeworski Today’s Allies, Tomorrow’s Enemies? The Political Dynamics of Corruption Scandals in Latin America BY Manuel Elías Balán, LLB Dissertation Presented to the Faculty of the Graduate School of The University of Texas at Austin in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy The University of Texas at Austin August, 2011 Dedication A mis padres, Elizabeth Jelín y Jorge Balán, a mi hermano Pablo Balán, y a mi Celina Van Dembroucke. Acknowledgements During the years that it took me to research and write this dissertation I have incurred many intellectual and personal debts. I am most grateful for the generous intellectual support of Kurt Weyland, my academic advisor and chair of my dissertation. He provided detailed, immediate, and constant feedback in all stages of this study, and challenged me to think about every single aspect of my research. His remarkable professionalism is a true example of academic rigor and generosity. Thank you for your mentorship and guidance. I would also like to thank the other members of my dissertation committee. Dan Brinks went far beyond the call of duty, providing sharp theoretical and methodological feedback and helping me think through all the academic and personal challenges of carrying out my research. He is not only an excellent and creative scholar, but he is also an incredibly nice and modest person. I want to especially thank Dan for his friendship and for being such an inspiring example. Ken Greene provided expert and generous feedback, particularly at two key points in my years as a Graduate Student: first when I was working on the research proposal, and then at the latest stages of writing the dissertation. He has been a constant source of support and encouragement, and he believed so much in me and this project that he helped me believe in it whenever I was having doubts. I truly thank you for your comments, always sharp and creative at the same time. Raúl Madrid also provided mentorship and was instrumental in helping me draft early versions of my research project. He was the very first person to suggest and encourage me to work on corruption, which in handsight has been undoubtedly the right decision. Wendy Hunter was always supportive and tolerant, and really helped me keep the big picture in mind. She has a knack for framing questions and arguments, and v generously shared her wisdom with me. Wendy was always very supportive of my research in Brazil, providing feedback and suggesting lots of relevant and interesting literature, which I promise I will include when, hopefully, this dissertation becomes a book. Zach Elkins joined my committee later in the process, and since then he has been a very valuable mentor and friend. Thanks to him I became part of the Comparative Constitutions Project, which gave me the opportunity to be part of a truly professional collective research project. Last but not least, Adam Przeworski’s advice has shaped my entire path as a political scientist. From the time I was considering applying to PhD programs until the day I defended this dissertation, Adam has been a constant source of support and guidance. The comments of the members of my committee pushed me to think in new and different ways, and their fingerprints are all over this study. Thank you for your generosity and help. All errors and omissions are, of course, my responsibility. Many other people at the Government Department have contributed to this dissertation. Annette Carlile was always ready to solve all administrative issues and was essential to the completion of this dissertation. Nancy Moses and all the staff were also supportive and willing to aid in every way necessary. Other Professors were also helpful in various ways: Kathy Boone, Zoltan Barany, and Henry Dietz, among others. Robert Moser deserves special recognition for all that he has done for me. He was essential both in finding funding well as in helping me navigate through the job search process. In fact, this dissertation was only possible thanks to the support of the Government Department, the Institute of Latin American Studies, and the College of Liberal Arts of the University of Texas at Austin. I learned as much from my peers as I did from my teachers. I thank all the members of the Latin American Faculty-Student Group through the years, who read and commented on multiple drafts of many chapters of this dissertation. I especially want to vi thank Rodrigo Nunes, Eduardo Dargent, and Daniel Ryan, who read many early drafts, providing feedback that helped me clarify my thoughts. Austin Hart not only read and commented on many aspects of this study, but he also patiently sat down with me on more than one ocassion and allowed me to pick his brain in order to make sense of the formal model I was struggling with. Other colleagues also helped in different ways: Luis Camacho, Mary Slosar, Paula Muñoz, Kristin Wylie, Laura Field, Patrick Hickey, Abby Blass, Alberto Vergara, and many others. Outside the Government Department, Chris Gaffney and Craig Adair became my big brothers by choice, lending a hand—or two— whenever was necessary. Also, a group of friends in Austin generously offered to comment on my presentation of the Chilean case: Isidora Errázuriz, Guillermo Blanc, Jaime Portales, Sebastián Valenzuela, Teresa Correa, Eva Dardati, and Julio Riutort. All of them, together with many other friends in Austin made life as a Graduate Student a very pleasant experience. While conducting fieldwork many people offered valuable feedback and opened several doors for me. Many journalists, politicians, activists, witnesses, judges, and prosecutors were open to talk to me and answer my many questions. The list is too long to go one by one, and many requested to remain anonymous, but thanks to all of them for sharing their stories and juicy details with me. In Argentina, Catalina Smulovitz and Carlos Acuña have been excellent interlocutors from the outset. In fact, Cary was the one who suggested I should look at the instances in which corruption becomes public, and planted the seed of what would become the main argument of this dissertation. Roberto de Michele gave me the incredible opportunity to work at the Anti-Corruption Office when I was very young and raw, and that experience was key in informing much of what I know about corruption and transparency policies. The participants at two presentations at UTDT and one at UdeSA vii helped polish aspects of this study. I also benefitted from multiple conversations with Marcelo Leiras, Alberto Föhrig, Ana María Mustapic, Sebastián Pereyra, Roberto Gargarella, Nicolás Raigorodsky, Néstor Baragli, and Guillermo Jorge, among others. I am also grateful to Roberto Saba, who generously offered me workspace at the ADC, which hosted my first few months doing fieldwork in Buenos Aires. Lucía Aboud and Rodrigo Martínez provided valuable research assistance. In Chile, Teresa Valdés opened the doors to her house and took great care of me. Moreover, she generously shared her vast knowledge about Chilean politics and put me in touch with many politicians and academics. Pato Navia also helped me in many ways, from lending me his office at the UDP to discussing ideas and connecting me with potential interviewees. Many professors at PUC were especially open to discussing my project and helped me improve this dissertation, in particular David Altman, Juan Pablo Luna, Alfredo Rehrén, Rodrigo Mardones, Andreas Feldman, and Valeria Palanza. Sergio Toro also shared ideas and data with me, and helped me understand the particularities of Chilean politics and politicians. I also benefitted from talks with Carlos Huneeus, Ricardo Gamboa, and Claudio Fuentes, among others. Jazmín Voight provided valuable research assistance. My family and friends provided much needed emotional support. My mother Elizabeth Jelín and Mauricio Taube made me feel as if I had never left Guate. My father Jorge Balán together with Susana Balán, were always present, creating a sense of home wherever they were. Both my mother and my father, accomplished academics as they are, also gave me illuminating comments and guidance, and above all are a great example for me. My brother Pablo Balán has been a constant support and understands me better than almost anybody. Laura and Alejo Taube are the best example that brother/sisterhood is something you can construct when you really care about one another. Natasha and Paula viii Pravaz, mis hermanas mayores, always managed to make me feel close to them, despite the physical distance. My friends Rodrigo, Gabi, and Bolo probably will never read this dissertation (perhaps not even the acknowledgements!), but without knowing, they also make me feel like home whenever I’m back in Buenos Aires. Lastly, my wife Celina Van Dembroucke makes every day worthwhile, including all those in the last few years that I spent rezongando with this dissertation. She simultaneously manages to provide incredible support and patience as well as to remind me each day what are the important things in life, keeping me—and my ego—in check. She even read with me and laughed at Pizza con Champán before going to bed. What more could I ever ask for? Her intelligence, sensibility, companionship, and many other gifts are omnipresent throughout this dissertation. Luckily, they are also everywhere in every single aspect of my life.
Load more

Recommended publications
  • Mercosur: the Common Market of the Twenty-First Century?
    GEORGIA JOURNAL OF INTERNATIONAL AND COMPARATIVE LAW VOLUME 32 2004 NUMBER 1 MERCOSUR: THE COMMON MARKET OF THE TWENTY-FIRST CENTURY? Rafael A. Porrata-Doria,Jr. * I. INTRODUCTION MERCOSUR, the "Common Market of the Southern Cone," was created in March 1990 by the Treaty of Asunci6n and was meant to create a common market among its four signatories (Argentina, Brazil, Paraguay, and Uruguay) by December 31, 1994.' This common market would include the graduated elimination of all customs duties among its signatories,2 the creation of a common external tariff, the adoption of a common trade policy,3 and the harmonization of economic policies The Treaty of Asunci6n, and its * Professor of Law, Temple University. J.D. 1977, Yale University; M.A., University of Pennsylvania; B.A. 1974, University of Pennsylvania. This Article, based substantially on research materials not available in English, is the first comprehensive description and evaluation of MERCOSUR in the English language. The author is a former consultant to the International Bank for Reconstruction and Development (World Bank) and was a mission participant and co- author of its study "Competition Policy and MERCOSUR" (1996). The author gratefully acknowledges the helpful comments of Marina Angel, Jeffrey Dunoff, and Henry Richardson. The author particularly appreciates the outstanding efforts of his principal research assistant, Julie Liebenberg, J.D. 2004, Temple University School of Law, and of his current research assistant, Suzette Sanders, J.D. expected 2005, Temple University School of Law. The information in this Article is current as of August 2003. ' Treaty of Asunci6n Establishing a Common Market among Argentina, Brazil, Paraguay, Uruguay, Mar.
    [Show full text]
  • Engineering Growth: Innovative Capacity and Development in the Americas∗
    Engineering Growth: Innovative Capacity and Development in the Americas∗ William F. Maloneyy Felipe Valencia Caicedoz July 1, 2016 Abstract This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory- the engineer. We collect cross-country and state level data on the population share of engineers for the Americas, and county level data on engineering and patenting for the US during the Second Industrial Revolution. These are robustly correlated with income today after controlling for literacy, other types of higher order human capital (e.g. lawyers, physicians), demand side factors, and instrumenting engineering using the Land Grant Colleges program. We support these results with historical case studies from the US and Latin America. A one standard deviation increase in engineers in 1880 accounts for a 16% increase in US county income today, and patenting capacity contributes another 10%. Our estimates also help explain why countries with similar levels of income in 1900, but tenfold differences in engineers diverged in their growth trajectories over the next century. Keywords: Innovative Capacity, Human Capital, Engineers, Technology Diffusion, Patents, Growth, Development, History. JEL: O11,O30,N10,I23 ∗Corresponding author Email: [email protected]. We thank Ufuk Akcigit, David de la Croix, Leo Feler, Claudio Ferraz, Christian Fons-Rosen, Oded Galor, Steve Haber, Lakshmi Iyer, David Mayer- Foulkes, Stelios Michalopoulos, Guy Michaels, Petra Moser, Giacomo Ponzetto, Luis Serven, Andrei Shleifer, Moritz Shularick, Enrico Spolaore, Uwe Sunde, Bulent Unel, Nico Voigtl¨ander,Hans-Joachim Voth, Fabian Waldinger, David Weil and Gavin Wright for helpful discussions. We are grateful to William Kerr for making available the county level patent data.
    [Show full text]
  • Women's Rights and the Legacy of Lincoln
    Women’s Rights and the Legacy of Lincoln: Explaining the Adoption of Legislative Gender Quotas in the Western Hemisphere Adriana Piatti-Crocker University of Illinois, at Springfield [email protected] Even though Abraham Lincoln’s views on women’s rights have not been thoroughly documented, President Lincoln’s legacy is closely connected to the women’s movement in the United States and beyond. First, there are Lincoln’s views on human rights and against slavery in the Confederate States, which were made evident by the Emancipation Proclamation of 1863. Indeed, his position on the liberation of slaves could be interpreted also to support a broader meaning of freedom, as applied to women. In addition, it is within Lincoln’s historical time that the “first wave” feminism became a force to be reckoned with. From North to South America, women in the western hemisphere began to mobilize for justice and equality; and they made critical yet, slow and gradual progress. However, it was not until the beginning of the 20th century and many decades thereafter that women gained the right to vote and the right to enjoy more or less equal civil rights with men in the western hemisphere. Yet, women remained widely underrepresented in politics. During the 1990s, a growing number of countries made significant efforts to help reduce the gender gap that had been so pervasive for women in politics. Among a number of institutional devices, gender quotas are one of the most popular and effective mechanisms for rapidly increasing the proportion of women in political positions of high-ranking.
    [Show full text]
  • Argentina's Delegative Democracy: a Case Study
    ARGENTINA’S DELEGATIVE DEMOCRACY: A CASE STUDY A dissertation presented by Florencia Inés Gabriele to The Department of Political Science In partial fulfillment of the requirements for the degree of Doctor of Philosophy in the field of Political Science Northeastern University Boston, Massachusetts December 2013 1 ARGENTINA’S DELEGATIVE DEMOCRACY: A CASE STUDY by Florencia Ines Gabriele ABSTRACT OF DISSERTATION Submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in Political Science in the College of Social Sciences and Humanities of Northeastern University December, 2013 2 ABSTRACT This study analyses why Argentina remained an immature and underdeveloped delegative democracy rather than a fully-liberal democratic polity. Following the work of Guillermo O’Donnell this work explores the quality of, and serious deficiencies in, Argentina’s democracy. This work pays special attention to presidential use and misuse of Decrees of Necessity and Urgency by as a means to govern alone, thus bypassing Congress and how there is no existing check and balances in the government in this regard. Observing delegative democracies, this work also examines the following: the use of economic restrictions, use of policies such as nationalizations, privatizations, management of the federal budget, international relations of the country, restriction on the media, behavior of the judiciary branch, changes in the national constitution, and decreasing role of the Vice President. This work analyzes the relationship between democracy, decrees of necessity and urgency, laws sanctioned by Congress and inflation using transfer function models. Democracy is measured using the Polity IV dataset. There is a causal relationship among the explanatory variables (inputs) —the numbers of laws passed by Congress, inflation, and number of DNU — and Democracy (output).
    [Show full text]
  • The Transformation of Party-Union Linkages in Argentine Peronism, 1983–1999*
    FROM LABOR POLITICS TO MACHINE POLITICS: The Transformation of Party-Union Linkages in Argentine Peronism, 1983–1999* Steven Levitsky Harvard University Abstract: The Argentine (Peronist) Justicialista Party (PJ)** underwent a far- reaching coalitional transformation during the 1980s and 1990s. Party reformers dismantled Peronism’s traditional mechanisms of labor participation, and clientelist networks replaced unions as the primary linkage to the working and lower classes. By the early 1990s, the PJ had transformed from a labor-dominated party into a machine party in which unions were relatively marginal actors. This process of de-unionization was critical to the PJ’s electoral and policy success during the presidency of Carlos Menem (1989–99). The erosion of union influ- ence facilitated efforts to attract middle-class votes and eliminated a key source of internal opposition to the government’s economic reforms. At the same time, the consolidation of clientelist networks helped the PJ maintain its traditional work- ing- and lower-class base in a context of economic crisis and neoliberal reform. This article argues that Peronism’s radical de-unionization was facilitated by the weakly institutionalized nature of its traditional party-union linkage. Although unions dominated the PJ in the early 1980s, the rules of the game governing their participation were always informal, fluid, and contested, leaving them vulner- able to internal changes in the distribution of power. Such a change occurred during the 1980s, when office-holding politicians used patronage resources to challenge labor’s privileged position in the party. When these politicians gained control of the party in 1987, Peronism’s weakly institutionalized mechanisms of union participation collapsed, paving the way for the consolidation of machine politics—and a steep decline in union influence—during the 1990s.
    [Show full text]
  • The Socio-Historical Construction of Corruption Examplesfrom Police
    Global Journal of HUMAN SOCIAL SCIENCE History & Anthropology Volume 12 Issue 10 Version 1.0 Year 2012 Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Inc. (USA) Online ISSN: 2249-460x & Print ISSN: 0975-587X The Socio-Historical Construction of Corruption Examples from Police, Politics and Crime in Argentina By Daniel Míguez University of the State of Buenos Aires Abstract - This paper proposes that corruption results from particular historical and social conditions. Specifically, it sustains that the stability and credibility of a society’s institutional system, the perception of a shared fate by most members of society, the levels of inequality and the perception of fair opportunities for personal progress are all elements that may deter or promote corruption. In order to show the association between these social conditions and corruption we analyse socially and historically the way that state agents such as the police, members of the judiciary and the political system relate to each other and to normal citizens. Although the examples are taken from the argentine context, they constitute a tool to understand, heuristically, why corruption is prominent in many parts of the underdeveloped world. Keywords : Corruption / police / judiciary / crime / civil society / Argentina / inequality / state. GJHSS-D Classification : FOR Code : 160605 JEL Code : D73 The Socio-Historical Construction of Corruption Examples from Police, Politics and Crime in Argentina Strictly as per the compliance and regulations of : © 2012. Daniel Míguez. This is a research/review paper, distributed under the terms of the Creative Commons Attribution- Noncommercial 3.0 Unported License http://creativecommons.org/licenses/by-nc/3.0/), permitting all non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.
    [Show full text]
  • “Bringing Militancy to Management”: an Approach to the Relationship
    “Bringing Militancy to Management”: An Approach to the Relationship between Activism 67 “Bringing Militancy to Management”: An Approach to the Relationship between Activism and Government Employment during the Cristina Fernández de Kirchner Administration in Argentina Melina Vázquez* Consejo Nacional de Investigaciones Científicas y Técnicas (CONICET); Instituto de Investigaciones Gino Germani; Universidad de Buenos Aires, Argentina Abstract This article explores the relationship between employment in public administration and militant commitment, which is understood as that which the actors themselves define as “militant management.” To this end, an analysis is presented of three groups created within three Argentine ministries that adopted “Kirchnerist” ideology: La graN maKro (The Great Makro), the Juventud de Obras Públicas, and the Corriente de Libertación Nacional. The article explores the conditions of possibility and principal characteristics of this activism as well as the guidelines for admission, continuing membership, and promotion – both within the groups and within government entities – and the way that this type of militancy is articulated with expert, professional and academic capital as well as the capital constituted by the militants themselves. Keywords: Activism, expert knowledge, militant careers, state. * Article received on November 22, 2013; final version approved on March 26, 2014. This article is part of a series of studies that the author is working on as a researcher at CONICET and is part of the project “Activism and the Political Commitment of Youth: A Socio-Historical Study of their Political and Activist Experiences (1969-2011)” sponsored by the National Agency for Scientific and Technological Promotion, Argentine Ministry of Science, Technology and Productive Innovation (2012-2015), of which the author is the director.
    [Show full text]
  • 1 Political Shocks and Asset Prices Daniel Carnahan
    Political Shocks and Asset Prices Daniel Carnahan (Business Insider) Sebastian Saiegh (University of California San Diego) Abstract We estimate how asset prices respond to a range of political shocks, including changes in a country’s economic stewardship, national elections, coup d'états, wars, and terrorist attacks. Multiple instances of these events took place in Argentina between 1967 and 2020. Using an event study approach and over 13,000 daily prices from the Buenos Aires exchange, we find that stock-market volatility increases in the days immediately following unexpected, major policy- shifting events. These results hold irrespective of whether market returns are measured in nominal terms, in local consumption units, or in US dollars. Our analysis allows us to establish comparisons across different types of political shocks while avoiding the identification problems of multi-country event studies. The most significant increase in post-event risk is associated with irregular government turnovers (coup d'états, presidential death, resignations); approximately 100 percent on average, when returns are expressed in US dollars. Volatility also increases in the days immediately following a defeat in an international war, national elections and changes in the country’s economic stewardship. No changes in stock market volatility occur, however, after terrorist attacks or when the date of a new administration’s inauguration is publicly known and determined sufficiently far in advance. Word Count: 10,929 1 Introduction Investors concerned about non-commercial risks need to consider their exposure to political events that may affect the value of their assets. These political risks can originate in specific government actions, such as laws or regulations.
    [Show full text]
  • Key 2017 Developments in Latin American Anti-Corruption Enforcement
    March 15, 2018 KEY 2017 DEVELOPMENTS IN LATIN AMERICAN ANTI-CORRUPTION ENFORCEMENT To Our Clients and Friends: In 2017, several Latin American countries stepped up enforcement and legislative efforts to address corruption in the region. Enforcement activity regarding alleged bribery schemes involving construction conglomerate Odebrecht rippled across Latin America's business and political environments during the year, with allegations stemming from Brazil's ongoing Operation Car Wash investigation leading to prosecutions in neighboring countries. Simultaneously, governments in Latin America have made efforts to strengthen legislative regimes to combat corruption, including expanding liability provisions targeting foreign companies and private individuals. This update focuses on five Latin American countries (Mexico, Brazil, Argentina, Colombia, and Peru) that have ramped up anti-corruption enforcement or passed legislation expanding anti-corruption legal regimes.[1] New laws in the region, coupled with potentially renewed prosecutorial vigor to enforce them, make it imperative for companies operating in Latin America to have robust compliance programs, as well as vigilance regarding enforcement trends impacting their industries. 1. Mexico Notable Enforcement Actions and Investigations In 2017, Petróleos Mexicanos ("Pemex") disclosed that Mexico's Ministry of the Public Function (SFP) initiated eight administrative sanctions proceedings in connection with contract irregularities involving Odebrecht affiliates.[2] The inquiries stem from a 2016 Odebrecht deferred prosecution agreement ("DPA") with the U.S. Department of Justice ("DOJ").[3] According to the DPA, Odebrecht made corrupt payments totaling $10.5 million USD to Mexican government officials between 2010 and 2014 to secure public contracts.[4] In September 2017, Mexico's SFP released a statement noting the agency had identified $119 million pesos (approx.
    [Show full text]
  • The Political Economy of Corruption
    The Political Economy of Corruption ‘Grand’ corruption, generally used to define corruption amongst the top polit- ical elite, has drawn increasing attention from academics and policy-makers during recent years. Current understanding of the causes and mechanisms of this type of corruption, however, falls short of a full awareness of its importance and consequences. In this volume, leading academics and practitioners analyse the economic and political conditions that allow ‘grand’ corruption to survive. Contributions include: • Case studies of countries that have witnessed flagrant misuse of political powers. • Theoretical papers which present models of corruption and project their possible effects. • Empirical studies which raise research questions and test the theoretical models using insightful methodologies. The studies in this work not only indicate the importance of the economic implications of ‘grand’ corruption, but also provide a framework for under- standing its processes. Academics and policy-makers working in the fields of economics, political science and sociology will find this an illuminating and valuable work. Arvind K. Jain is Associate Professor at Concordia University, Montreal. His current research focuses on corruption and on international financial crises. His past research papers have dealt with corruption, agency theory and the debt crisis, capital flight, international lending decisions of banks, oligopolistic behaviour in banking, foreign debt and foreign trade in devel- oping countries, impact of culture on saving behaviour and commodity futures markets. He has previously written two books and edited a volume entitled Economics of Corruption. Routledge Contemporary Economic Policy Issues Series editor: Kanhaya Gupta This series is dedicated to new works that focus directly on contemporary economic policy issues.
    [Show full text]
  • Argentina: from Kirchner to Kirchner
    ArgentinA: From Kirchner to Kirchner Steven Levitsky and María Victoria Murillo Steven Levitsky is professor of government at Harvard University. María Victoria Murillo is associate professor of political science and international affairs at Columbia University. Together they edited Ar- gentine Democracy: The Politics of Institutional Weakness (2005). Argentina’s 28 October 2007 presidential election contrasted sharply with the one that preceded it. The 2003 race took place in the after- math of an unprecedented economic collapse and the massive December 2001 protests that toppled two presidents in a span of ten days. That election—which was won by little-known (Peronist) Justicialist Party governor Néstor Kirchner—was held in a climate of political fragmenta- tion and uncertainty. Little uncertainty surrounded the 2007 campaign. After four years of strong economic growth, and with the opposition in shambles, a victory by the incumbent Peronists was a foregone conclu- sion. The only surprise was that Kirchner, who remained popular, chose not to seek reelection. Instead, his wife, Senator Cristina Fernández de Kirchner, ran in his place. Cristina Kirchner captured 45 percent of the vote, easily defeating Elisa Carrió of the left-of-center Civic Coalition (23 percent) and Kirch- ner’s former economics minister, Roberto Lavagna (17 percent), who was backed by the Radical Civic Union (UCR). In addition to winning more than three-quarters of Argentina’s 23 governorships, the Justicial- ist Party (PJ) and other pro-Kirchner allies won large majorities in both legislative chambers. In the Chamber of Deputies, the lower house of Argentina’s bicameral National Congress, progovernment Peronists and other Kirchner allies (including pro-Kirchner Radicals) won 160 of 257 seats, while dissident Peronists won another 10 seats.
    [Show full text]
  • Argentina's Monetary and Exchange Rate Policies After the Convertibility
    CENTER FOR ECONOMIC AND POLICY RESEARCH April Argentina’s Monetary and Exchange Rate Policies after the Convertibility Regime Collapse • ii Contents Introduction 1 1. The Convertibility Regime 2 2. The Post-Convertibility Macroeconomic Regime and Performance 9 2.1 The Main Characteristics of the Economic Recovery 10 2.2 The Evolution of Monetary and Exchange Rate Policies 16 3. A Macroeconomic Policy Regime with a SCRER as an Intermediate Target 25 3.1 The Orthodox Arguments Against RER Targeting 26 3.2 The Exchange Rate Policy 29 3.3 The Exchange Market and Capital Flows 30 3.4 Monetary Policy 31 Conclusion 35 References 36 Chronological Appendix 39 About the Authors Roberto Frenkel is a senior research associate at the Center for Economic and Policy Research in Washington, D.C. and Principal Research Associate at the Centro de Estudios de Estado y Sociedad (CEDES) in Buenos Aires, Argentina. Martín Rapetti is a research assistant at CEDES and a Ph.D. candidate at the University of Massachusetts, Amherst. Acknowledgements This paper was written as part of an international research project on Alternatives to Inflation Targeting for Stable and Equitable Growth co-directed by Gerald Epstein, PERI and Erinc Yeldan, Bilkent University. The authors thank the Rockefeller Brothers Fund, Ford Foundation and UN-DESA for financial support. Additionally, Nelson Barbosa-Filho, Erinc Yeldan and the participants in the workshop on “Alternatives to Inflation Targeting Monetary Policy for Stable and Egalitarian Growth in Developing Countries” held at CEDES in May 13-14, 2005 contributed comments to a previous version of this paper. Finally, the authors thank Julia Frenkel for her collaboration and Erinc Yeldan and an anonymous referee from World Development for their comments and suggestions.
    [Show full text]