Discussion Paper Details

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Title: Economic and Institutional Consequences of Populism

Author(s): Nicolas Magud and Antonio Spilimbergo

Publication Date: February 2021

Keyword(s): Commodity supercycle, institutions, Latin America, political economy and populism

Programme Area(s): Development Economics, Economic History, International Trade and Regional Economics and Macroeconomics and Growth

Abstract: We analyze the institutional and economic consequences of populism in Latin America in the last 50 years. Populist regimes weaken institutions and macroeconomic (fiscal, monetary, and external) indicators, resulting in crises and worse income distribution. The duration of populist regimes depends on favorable external conditions. In particular, the commodity super-cycle of the 2000s and easy financing conditions allowed populists to stay in power longer than in past episodes.

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Bibliographic Reference

Magud, N and Spilimbergo, A. 2021. 'Economic and Institutional Consequences of Populism'. London, Centre for Economic Policy Research.