Economic Reform and Democratization in Argentina and Uruguay: The Tortoise and the Hare Revisited?

Abstract

Implementing market-oriented reforms is often a contentious affair, especially in new democracies. It can be time-consuming when the democratic process permits many opportunities to examine (and to block) controversial proposals. Conversely, when debate is limited by various means, the pursuit of reform can undermine the democratic regime. How, then, can market-oriented reforms and democracy be consolidated simultaneously?