State intervention and legitimation in the financial crisis: the case of semi-industrialized Latin American countries

Vol. 8 No. 4 (1988)

Oct-Dec / 1988
Published October 1, 1988
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Salama, Pierre. 1998. “State Intervention and Legitimation in the Financial Crisis: The Case of Semi-Industrialized Latin American Countries”. Brazilian Journal of Political Economy 8 (4):553-79. https://doi.org/10.1590/0101-31571988-4067.

State intervention and legitimation in the financial crisis: the case of semi-industrialized Latin American countries

Pierre Salama
Université de Paris Nord (Paris 13), França.
Brazilian Journal of Political Economy, Vol. 8 No. 4 (1988), Oct-Dec / 1988, Pages 553-579

Abstract

Democratic regimes have substituted repressive political regimes in Latin America.
They are now confronting extremely serious problems: social ínequality, financial crisis,
both apparently without solution. The viability of increasing the strength of democracy is
the first subject of this paper. The second subject relates to the degree of state intervention
under these conditions. It argues that a reduction and a modification of the state structure
are taking place. The financial crisis tends to accelerate this process. These two subjects,
basis and fragility of democracy and the limits of the state intervention, are analysed in the
light of the “derivation theory”.

JEL Classification: P16; P10; H10.


Keywords: Role of the State democracy state derivation