comparative case studies. In the second section of the paper, I will clearly define my model
and the new ways I propose to measure social unrest and political instability. In the final
section, I will illustrate the proposed interactions referring to the cases of Brazil and
Venezuela. However, the analysis won’t be limited to these countries exclusively; the main
purpose of the work is to provide an analytic framework for the region as a whole. It is
important to mention that these efforts are part of an ongoing project that will be developed
during the next couple of years.
I.
POLITICAL AND SOCIOECONOMIC PANORAMA OF LATIN AMERICA
Long characterized by authoritarian governance and closed, state-directed economies, Latin
America is now dominated by democratic regimes and free-market economies. In the last few
decades the region has undergone a comprehensive democratization process; at the same time,
dramatic economic restructuring and policy reforms have been implemented—first, as a
response to the 1980s debt crisis, and specifically with the aim of lowering inflation,
promoting exports, and expanding access to international capital.
transformation of political and economic regimes is often conceived of as a “dual” or “double
transition.” It is important to assess the durability of this process and try to verify if Latin
America is indeed on a development path that includes both free markets and political
democracy. Taking this context into account, several analysts have examined the prospects for
economic development, greater equality, social justice and democratic consolidation in the
region.
3
Among these reforms are: fiscal and monetary discipline, privatization, tax reform, financial
liberalization, reduction of barriers to foreign trade and investment, protection of property rights, and a reduction
of excessive state intervention in the productive sectors of the economy.
4
Convention