We show that the Brazilian trade liberalization in the early 1990s led to a permanent relative decline in the vote share of left-wing presidential candidates in the regions more affected by the tariff cuts. This happened even though the shock, implemented by a right-wing party, induced a...

We show that the Brazilian trade liberalization in the early 1990s led to a permanent relative decline in the vote share of left-wing presidential candidates in the regions more affected by the tariff cuts. This happened even though the shock, implemented by a right-wing party, induced a...

In 1994, the Brazilian government launched a stabilization program based on a dollar-peg exchange rate regime. In January 1999, that regime was abandoned; the result was an exchange rate devaluation of about 50%. There was a fear that inflation would come back due to the relative price change in...