Political reforms in Latin America in the 80s

Abstract

The purpose of this note is not to describe the evolution of the debt crisis, to
apportion responsibility for its occurrence or persistence, or to prescribe remedies for ending
it (though these topics will be touched on incidentally), but to extract lessons from this unfortunate
historical episode. I focus on what I perceive to be the five principal lessons.

JEL Classification: F30; F34.