Policy Regimes and Economic Accountability in Latin America

Abstract

The shifts from state-led development to neoliberalism in Latin America have prompted debates on the quality of democracy. While most discussions focus on responsiveness, we examine how economic policy regimes influence accountability. We argue that the policy regime matters for policy responsibility Citizens’ ability to hold executive to accounts strengthens where policy regimes are more statist and weakens where policy regimes are more market oriented. Time-series analyses of policy orientations, economic conditions, and presidential approval in 18 countries support this proposition, while complementary analyses at the individual-level support claims that a responsibility mechanism links policy regimes to accountability. Study findings imply that by embracing heterodox policy regimes, recent Latin American executives have improved accountability compared to the era in which the “Washington Consensus” held sway.