The Politics of Market Discipline in Latin America

Daniela Campello is an Assistant Professor of Politics and International Affairs at the Getúlio Vargas Foundation (FGV), Brazil. Before joining the FGV in July 2013, Campello was an Assistant Professor of Politics and International Affairs in the Department of Politics and at the Woodrow Wilson School of Public and International Affairs at Princeton University, New Jersey. Her work has been published in Comparative Political Studies, the Oxford Handbook of Latin American Political Economy, and in edited volumes published in the United States, Spain, Uruguay, and Brazil.

• 1. Globalization, democracy, and market discipline; 2. Between votes and capital: redistribution and uncertainty in unequal democracies; 3. Investors' 'vote' in presidential elections; 4. The politics of currency booms and crises: explaining the influence of the investors' 'vote'; 5. Currency crisis, policy switch, and ideological convergence: presidential elections in Brazil; 6. Exogenous shocks and investors' political clout: presidential elections in Ecuador; 7. Controlling for incumbency: financial markets' influence in Chávez's Venezuela; 8. 'Vivir con lo nuestro': default and market discipline in Argentina; 9. Who governs?: market discipline in the developed world; 10. Conclusion.

'Daniela Campello tackles a very controversial and perhaps most misunderstood topic in the political economy of contemporary Latin America: to what extent do global markets and foreign investors constrain governments, particularly those on the left, preventing them from pursuing redistributive policies voters demand? Her answer is sophisticated and unexpected. The book is a lasting contribution to understand globalization, the emergent left, and the politics of policy making not only in Latin America but elsewhere in the developing world.' Alberto Díaz-Cayeros, Stanford University, California