Neoliberalism, Accountability, and Reform Failures in Emerging Markets

Contents

Preface

1. Accountability and Market Reforms

2. Financial Crises in Comparative Perspective

3. Russia

4. Argentina

5. Chile

6. Conclusion

References

Index

Figures and tables are grouped at the ends of chapters 2, 3, 4, and 6.

“At a time when the connections among politics, governments, and markets are more urgent concerns than ever before, Manzetti guides us through hotly contested terrain with confidence, displaying both a comprehensive view of the big picture and a keen eye for detail. He reaches beyond the usual generalizations about neoliberalism and democracy to examine the opportunities and constraints shaping behavior at many levels. We are reminded, even as government’s role in the economy changes, that those in charge will search for ways to govern—to build political support and use it—employing the incentives and institutional forces at hand. Manzetti’s emphasis on the value of democratic political processes is a welcome corrective to the notion that unfettered markets are wholly self-regulating or amount to a kind of private substitute for governance. Carefully chosen, detailed case studies both illustrate those broader arguments and show the necessity of understanding how politics and liberalized markets function in real, rather than just ideal, settings. Manzetti’s book will be both useful and provocative for analysts and policymakers alike.”

—Michael Johnston, Colgate University