We review the experiences of developing countries with market-oriented reforms, using the tools of modern political economy. We impose intellectual discipline by requiring that actors behave rationally using available information and that basic economic relationschips such as budget constraints...

The Argentine Congress plays a limited role in the production of public policy and is a relatively ineffective check on the Argentine Executive Branch. We argue this is the combined result of incentives created by several features of Argentine political institutions. In this article we emphasize...

We analyze the dynamics of inflation that arise from fiscal deficits caused by the noncooperative behavior of interest groups. The "state" variable is the degree of financial adaptation, a proxy for the share of wealth agents hold in alternatives to domestic currency. As financial adaptation...