The Politics of Market Reform in Fragile Democracies

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Focusing on the political dynamics of fragile democracies, the book explores why some leaders successfully implement drastic economic reforms while others fail. Kurt Weyland analyzes the experiences of presidents in Argentina, Brazil, Peru, and Venezuela during the 1980s and 1990s, revealing their surprising ability to gain popular support despite the pain of their reforms. He employs prospect theory to provide a deeper understanding of the cognitive-psychological factors influencing political decisions and public reactions in these nations.