Democracy, populism and hyperinflation: some evidence from Latin America

Bittencourt, Manoel

doi:10.1007/s10101-012-0117-7

Cited by 18 publications

(11 citation statements)

References 35 publications

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“…More specifically, after a spell of dictatorships, a number of Latin American countries “re-democratized”, but policies aimed at diminishing the large differentials in standards of living resulted in inflation and outbursts of hyperinflation (Bittencourt 2010). The attempts at income redistribution during the “populist” phase was done via unfunded public deficits, which then led to catastrophic inflation, and ultimately to even more inequality as the poor were affected more than the rich, who resorted to a dollarization of their assets.…”

Section: What Flew Under the Radar ?mentioning

confidence: 99%

The Latin American Cohabitation Boom, 1970–2007

Esteve¹,

Lesthaeghe²,

López‐Gay³

2012

Population & Development Rev

149

113

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The article describes the rise of unmarried cohabitation in Latin American countries during the last 30 years of the twentieth century, both at the national and regional levels. It documents that this major increase occurred in regions with and without traditional forms of cohabitation alike. In addition, the striking degree of catching up of cohabitation among the better‐educated population segments is illustrated. The connections between these trends and economic (periods of high inflation) and cultural (reduction of stigmas in ethical domains) factors are discussed. The conclusion is that the periods of inflation and hyperinflation may have been general catalysts, but no clear indications of correlation were found between such economic factors and the rise in cohabitation. The shift toward more tolerance for hitherto stigmatized forms of conduct (e.g., homosexuality, euthanasia, abortion, singleparent household) is in line with the rise of cohabitation in regions of Argentina, Chile, and Brazil where cohabitation used to be uncommon. Further rises in cohabitation during the first decade of the twenty‐first century are expected in a number of countries (e.g., mexico) despite conditions of much lower inflation.

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Section: What Flew Under the Radar ?mentioning

confidence: 99%

The Latin American Cohabitation Boom, 1970–2007

Esteve¹,

Lesthaeghe²,

López‐Gay³

2012

Population & Development Rev

149

113

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“…It is therefore believed that we are able to provide informative estimates so that our knowledge on those historical episodes are somehow deepened. 2 Other major contributions include Barro (1997), Easterly (2001), Fischer (2004) and Easterly (2005), not to mention the numerous growth studies which include in ‡ation as the main proxy for macroeconomic stability. Overall, most of these studies reach the conclusion that macroeconomic instability is detrimental to economic growth.…”

Section: Related Literaturementioning

confidence: 99%

Inflation and economic growth in Latin America: Some panel time-series evidence

Bittencourt

2012

Economic Modelling

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In this paper we investigate the role of poor macroeconomic performance, in terms of high rates of in ‡ation, in determining economic growth in four Latin American countries between 1970 and 2007. The empirical results, based on the relatively novel panel time-series analysis, con…rm the anecdotal evidence which suggests that in ‡ation has had a detrimental e¤ect to growth in the region. All in all, we highlight the costs that in ‡ation has had on economic activity, and also the importance of particular economic institutions which were implemented in the 1990s-central-bank independence and …scal responsibilities laws-in actually keeping in ‡ation under control in the region, as a …rst step in the direction of sustained growth and prosperity.

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“…After a period of dictatorships, a number of Latin American countries "re-democratized", but policies aimed at diminishing the large differentials in standards of living resulted in infl ation and outbursts of hyperinfl ation (Bittencourt 2012 ) Attempts at income redistribution during this populist phase were conducted through unfunded public defi cits, which led to massive infl ation, and ultimately to even greater inequality as the poor were affected more than the rich. In such instances the benefi ts of economic development realized before 1980 were often lost.…”

Section: Cohabitation As a Response To Economic Shocksmentioning

confidence: 99%