The Venezuelan experience in the 1980s is a particularly fertile ground for the analysis of negative shocks. Two large shocks took place under very different control regimes, thus highlighting the role the institutional setting plays in determining the response. Moreover, the experience can shed...

This case study of Venezuela's democratic institution and policymaking processes is part of the broader regional project based on the theoretical framework developed by Spiller, Stein and Tommasi (2003). The framework focuses on the conditions that foster political cooperation among political...