CIAO DATE: 06/05

A Theoretical and Statistical Assessment of the Structural Reform in Latin America

Abstract

This working paper argues that the institutional variation between Latin American countries is one of the central variables that explains the huge differences in the implementation, and level of consolidation of the structural reform process in Latin America during the 1980s and 1990s, an issue still unexplained in a satisfactory way in the existing literature. The argument is tested and supported using a statistical model that includes macroeconomic indicators in the explained side of the equation (structural reform), and constitutional, electoral, and party system data on the explanatory side (institutional configuration).

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