Suchergebnisse

AbstractThis article aims to discuss to what extent populist parties with opposite ideological backgrounds have differed in their policies towards inherited external financial liberalization (EFL). Building upon a comparative case study centred on Argentina under Kirchnerism (2003–15) and Hungary under Viktor Orbán (since 2010), I conclude that both experiences led to a partial EFL reversal. However, reflecting their opposite ideological underpinnings, each subtype of populism opted to restrict a different dimension of EFL. Argentina's left-wing populism re-regulated cross-border capital flows, harming financial operators, foreign investors and primary exporters through capital controls and export surrenders. These interventionist capital account regulations were needed to shield expansionary macroeconomic policies that attended the interests of subordinate socioeconomic strata, fuelling the tension with financial markets and domestic economic elites. Conversely, Hungary's right-wing populism focused on the ownership structure of the banking sector, aiming to redistribute assets from foreign to domestic private banks and improve the credit conditions for native capitalists. In this case, even when resorting to macroeconomic heterodoxy, the maintenance of fiscal balance and price stability retained support from both foreign investors and domestic business groups, mitigating tensions derived from financial nationalism.

O presente artigo tem como objetivo geral discutir o papel do Estado na construção da infraestrutura e do setor industrial por meio de um estudo de caso determinado geográfica e temporalmente, os Estados Unidos ao longo do século XIX. Parte-se do argumento de que o sentido do avanço na infraestrutura doméstica é contingente às medidas estatais quanto ao desenvolvimento industrial. Para aprofundar tal argumento e realizar o objetivo geral, inicialmente, detalha-se o conjunto de mudanças infraestruturais ocorridas ao longo do século XIX, atentando para a relação entre elas e o desenvolvimento econômico. Após isso, são apresentadas as principais medidas estatais estadunidenses, que confluíram para que o avanço na infraestrutura forjasse uma trajetória de desenvolvimento industrial.