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Production Development

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Collection of publications on industrial development policy, business strategies, agricultural and rural development, SMEs, foreign direct investment and the information society, among others. Prepared by: Division of Production, Productivity and Management. ISSN: 1020-5179.

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Institutional change and political conflict in a structuralist model
No.224

Institutional change and political conflict in a structuralist model

The article presents a theoretical model of political conflict and democratic stability in a small open developing economy, using as the basis a structuralist macroeconomic model. Political institutions are given in the medium run, but they vary in the long run as the result of political conflict between capitalists, formal workers, and informal workers excluded from the benefits of social protection conquered by the formal workers. The model suggests that a democratic breakdown is more likely the larger the informal sector, the lower the non-price competitiveness of the economy, and the weaker the country’s democratic traditions. Coups and democratization process...

  • Porcile, Gabriel
  • Sánchez-Ancochea, Diego
July 2020
LC/TS.2020/55
40 p.

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