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Cuadernos de Economía

Print version ISSN 0121-4772

Abstract

GARCIA CHOURIO, José Guillermo. DE LA PRIMERA A LA SEGUNDA GENERACIÓN DE REFORMAS DEL ESTADO EN AMÉRICA LATINA; GIRO IDEOLÓGICO Y CAMBIO CONCEPTUAL. Cuad. Econ. [online]. 2003, vol.22, n.38, pp.95-125. ISSN 0121-4772.

This article explores that ideological and conceptual orientation which has guided the process of economic reforms in Latin-America, differentiating those measures put into effect by two generations. A start is made from the idea that the transition between generations of reforms obeys a change in those ideological and theoretical concepts sustaining initial reforms, these being the product of the experience of failure and opposition to adjustment. It is concluded that there has been a conceptual volte-face, expressed by moving away from a rational expectations´ approach (sustaining a policy of external shocks through State adjustment and reduction measures aimed at disciplining economic agents) towards a neo-institutional approach. This conceives reforms as being a process of creating harmonious institutions for the good functioning of the market, recognising the State as being a basic mechanism for reducing transaction costs for such agents in the market.

Keywords : State reform; first generation reform; macroeconomic adjustment; second generation reform; institutional reform; Latin-America.

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