Rara avis: Latin American populism in the 21st century
Fecha
2021Versión
Acceso abierto / Sarbide irekia
Tipo
Artículo / Artikulua
Versión
Versión publicada / Argitaratu den bertsioa
Identificador del proyecto
Impacto
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10.1016/j.ejpoleco.2021.102042
Resumen
Since the beginning of the 21st century, many Latin American countries have been ruled by
governments characterized as populist (the so-called new Latin American Left). We focus on
the macroeconomic implications of the policies adopted by these governments (instead of their
leaders’ rhetoric) and we investigate to what extent this characterization holds. In particular, we
focus on their wage ...
[++]
Since the beginning of the 21st century, many Latin American countries have been ruled by
governments characterized as populist (the so-called new Latin American Left). We focus on
the macroeconomic implications of the policies adopted by these governments (instead of their
leaders’ rhetoric) and we investigate to what extent this characterization holds. In particular, we
focus on their wage policies by doing a Structural Vector Autoregressive analysis and assuming
that populist shocks have no long-run effects on real wages. This identification implies that
populist leaders prioritize redistribution through nominal wages disregarding the evolution of
productivity. The results indicate that economic populism is not as widespread as previously
thought. Instead, our approach leads to more nuanced results: while we find that there is
populism in Argentina, the results for Brazil, Bolivia and Ecuador show only sporadic populist
events. In the remaining countries, we do not find persistent economic populism. [--]
Materias
Macroeconomics of populism,
Income redistribution,
Structural VAR,
Latin America
Editor
Elsevier
Publicado en
European Journal of Political Economy
Departamento
Universidad Pública de Navarra/Nafarroako Unibertsitate Publikoa. Institute for Advanced Research in Business and Economics - INARBE
Versión del editor
Entidades Financiadoras
‘‘La Caixa’’ Foundation, under agreement LCF/PR/PR13/51080004. AEI/FEDER
grant ECO2017-85763-R.