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Regimes, Politics, and MarketsDemocratization and Economic Change in Southern and Eastern Europe$
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José María Maravall

Print publication date: 1997

Print ISBN-13: 9780198280835

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198280835.001.0001

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The Political Economy of Democratization

The Political Economy of Democratization

(p.74) 3 The Political Economy of Democratization
Regimes, Politics, and Markets


Oxford University Press

This chapter illustrates the economic picture of the countries of Southern and Eastern Europe after a regime change. It is argued here that the type of transition, although initially important in some cases, became increasingly less significant in terms of economic performance. A comparison of the experiences of regimes in Southern and Eastern Europe shows that the agenda of economic reforms was much more limited in the case of Spain, Greece, and Portugal. Apparently, for some time politics predominated over the economy. When economic policies became more important in the governments' agendas, they did so because of the worsening economic situation and the evolution of the intellectual maps of the politicians. The chapter however concludes by defending the observations that, in time, democracies were generally able to improve the economic situation.

Keywords:   democratic transition, democratization, economic reforms, Southern and Eastern Europe, regime change

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