Democratic elected socialist presidents and free-market reforms: a political economy examination

Abstract

Left-of-center parties are rhetorically against liberalizing markets, but historical evidence proves otherwise in certain situations. The United States is vitally interested in the democratic and economic success of developing countries, as stated in United States national security strategy. This thesis uses economic institutionalism to examine the occasions on which left-of-center presidents successfully implemented neoliberal economic reforms. Case studies of Chile under President Patricio Aylwin and Brazil under Fernando Henrique Cardoso are used as evidence.